German authorities have arrested 18 people following a German-led, internationally coordinated investigation into online fraud and money laundering networks that exploited payment service providers, officials said on Wednesday.

In total, 44 suspects are under investigation, including six former employees of major German payment firms, accused of participating in a scheme that stole the credit card details of 4.3 million people across 193 countries, according to Germany’s Federal Criminal Police Office (BKA) and federal prosecutors.

The network allegedly used phishing campaigns to steal victims’ data before creating recurring subscription charges on fake websites posing as streaming, dating, and adult entertainment services. The fraudulent transactions, processed with the help of compromised payment platforms, caused damages exceeding €300 million.

At a press conference in Wiesbaden, officials described the operation as a sophisticated mix of cybercrime and financial crime, involving a network of “crime-as-a-service” providers and corrupt industry insiders.

“What initially looked like small debits turned out to be a global business model with professional structures,” said Daniel Thelesklaf, head of Germany’s Financial Intelligence Unit.

“We can see what financial crime looks like in 2025, it is international, it is digital, and it is collaborative.”

Authorities said the investigation remained under wraps until late Tuesday, when coordinated raids were carried out in Germany, Italy, Canada, Luxembourg, the Netherlands, Singapore, Spain, the United States, and Cyprus.

Germany’s Federal Criminal Police Office said the suspects may have compromised four major German payment service providers to process fraudulent transactions. The firms were not named, and officials gave no details about those arrested.

Investigators said the case underscores how cybercriminals increasingly exploit legitimate financial infrastructure to carry out global fraud, often leaving victims unaware until small, repeated charges accumulate into large-scale losses.

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