Eight Arrests in Alicante Case Highlight SIM Swapping Fraud Targeting Online Banking
In Alicante, a coordinated operation by national police revealed a criminal scheme that used SIM swapping to defraud victims. The technique allowed criminals to duplicate SIM cards, insert them into other mobile devices, and take control of the victims’ online banking sessions. Through this method, they executed fraudulent transfers to accounts controlled by the group, seizing a total of 118,086.66 euros from 13 victims across Spain. The police reported eight arrests in connection with the operation, which unfolded in several stages (Source: Policía Nacional de Alicante).
The investigation began when the Alicante Provincial Police Station and the Provincial Judicial Police Brigade Economic and Financial Crimes Unit started examining a criminal network that operated nationwide and specialized in SIM swapping. Authorities found that a local mobile phone store operator facilitated the scheme by cloning customers’ SIM cards, providing the initial entry point for the attackers (Source: Policía Nacional de Alicante).
With this key player in place, the network’s leadership could remotely activate fake SIM cards in other phones. First, the intruders identified the bank used by each victim, then they posed as customers who had lost their online banking password and needed a reset. While this pretext was used to communicate with the bank, the victim’s device showed a flood of connection errors and, ultimately, loss of control over banking access. The crux of the incident lay in the fake SIM card controlling the cybercriminal’s device, which allowed the attackers to observe and override transactions (Source: Policía Nacional de Alicante).
Once passwords were captured, the criminals initiated transfers to bank accounts created specifically for this purpose, often under the name of “mules.” These mules then moved the funds to other accounts, withdrew cash at ATMs or bank counters, and used third-party services to convert the money, making it harder to trace the final destination. The mules represented the most vulnerable layer of the operation and were a prime focus in police investigations (Source: Policía Nacional de Alicante).
In the end, the group reportedly amassed 118,086.66 euros through 16 fraudulent transactions, with victims located in Alicante, Madrid, and Zaragoza. The case illustrates how SIM swapping can be a gateway to online banking breaches, enabling criminals to bypass standard security measures and exploit access to customer accounts (Source: Policía Nacional de Alicante).
The initial link in the chain was traced to the phone store operator. Once investigators identified and apprehended him in Alicante, the question became: who else was involved in the plan? The investigation concluded with eight arrests in Alicante alone, comprising seven men and one woman, aged 24 to 48. The suspects held both Spanish and Russian nationality. After processing at the police station, they were released while awaiting subpoenas for further proceedings (Source: Policía Nacional de Alicante).
The case underscores the importance of vigilance around SIM changes and the protections that banks and customers can use to prevent unauthorized access. Safeguards such as multi-factor authentication that does not rely solely on SMS codes, monitoring of unusual login patterns, and rapid incident response can help reduce the risk of SIM swapping. Consumers are advised to contact their financial institution immediately if they notice abnormal banking activity or unexpected password reset requests (Source: Policía Nacional de Alicante).
The authorities continue to emphasize that cybercrime networks often operate across multiple jurisdictions, employing a combination of social engineering, fake documentation, and telecom manipulation to achieve their goals. The Alicante operation serves as a reminder that criminals frequently exploit everyday conveniences—like mobile networks and online banking—to commit fraud. Law enforcement agencies reinforce the need for ongoing collaboration with financial partners and telecom providers to disrupt these networks and safeguard victims (Source: Policía Nacional de Alicante).