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| The phone numbers of cyber criminals have been banned in Germany and Austria |
Online investment fraud has grown into an industrial-scale problem, and German and Austrian authorities are pushing back. In a coordinated effort against the people behind so-called cyber-trading fraud, investigators have focused on the infrastructure that makes these scams possible. The operation was led by the Cybercrime Center (CCZ) at the Karlsruhe Public Prosecutor General's Office and the Baden-Württemberg State Criminal Police Office (LKA). The internationally coordinated investigation has already delivered substantial results.
9,304 German phone numbers shut down in three months
During the past three months, investigators working on "Operation Herakles" identified and shut down exactly 9,304 German phone numbers. According to authorities, those numbers were used to lure unsuspecting consumers with attractive but fraudulent investment promises. Across the operation as a whole, 13,888 numbers have now been disconnected. More precisely, 13,397 numbers were shut down in Germany, while another 491 were blocked in cooperation with Austria's Federal Criminal Police Office (BKA).
The investigation is currently targeting unidentified suspects who are believed to be committing organized fraud for commercial gain. Germany's Federal Criminal Police Office (BKA) supported the operation, along with the Federal Financial Supervisory Authority (BaFin). BaFin is conducting its own proceedings against unauthorized cyber-trading operations and supplied key information about suspicious phone numbers.
Regulators move to disrupt the fraud infrastructure
Germany's Federal Network Agency also intervened to disrupt the fraudsters' infrastructure over the longer term. The regulator took supervisory action against the telecommunications companies responsible for the numbers. Providers were required to disconnect the numbers used for fraud and tighten their registration procedures. The aim is to strengthen checks on sales partners and resellers so fraudulent numbers cannot simply be registered again. Authorities involved have also established new procedures to identify and shut down criminally used phone numbers more quickly and systematically.
For the official announcement, see BaFin's Operation Herakles press release.
Fake trading platforms remain a growing threat
Despite the operation, BaFin and police warn that fraudulent trading platforms remain a growing threat, with both case numbers and financial losses continuing to rise. Consumers are urged to scrutinize platforms before transferring money, especially when promised unusually high returns. Criminals often try to create intense time pressure. Authorities warn against sharing online banking credentials or copies of identity documents and payment cards. Financial service providers in Germany generally require official authorization, which investors can check beforehand. Independent financial advisers or consumer advice centers can help assess suspicious offers. Investigators advise anyone who has been defrauded to file a police report immediately.
What investors should take away
Operation Herakles shows that authorities are taking online investment fraud seriously, but shutting down phone numbers is only one part of the fight. Fraudsters can rebuild, rebrand and find new ways to reach victims. The strongest defense is still caution: verify whether a provider is authorized, question unrealistic returns, resist pressure to act fast, and never hand over sensitive financial or identity documents. If an offer feels too good to be true, stop and check with independent sources before sending any money.