Nearly 14,000 phone numbers banned as authorities fight investment scams

Online investment fraud has grown to an industrial scale in recent years. German and Austrian authorities have now coordinated an operation targeting the people behind so-called cyber-trading fraud. Led by the Cybercrime Center (CCZ) at the Karlsruhe Public Prosecutor General's Office and the Baden-Württemberg State Criminal Police Office (LKA), investigators focused on the infrastructure used by the criminals. The internationally coordinated investigation has produced substantial results.

Over the past three months, investigators working on "Operation Herakles" have identified and shut down exactly 9,304 German phone numbers. According to the authorities, the 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. To be more precise, 13,397 in Germany and another 491 numbers have been blocked in cooperation with Austria's Federal Criminal Police Office (BKA).

The investigation currently targets unidentified suspects believed to be committing organized fraud for commercial gain. Germany's Federal Criminal Police Office (BKA) supported the operation, as did the Federal Financial Supervisory Authority (BaFin). The financial regulator is conducting its own proceedings against unauthorized cyber-trading operations and supplied key information about suspicious phone numbers.

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. The authorities involved have also established new procedures to identify and shut down criminally used phone numbers more quickly and systematically.

Despite the operation, BaFin and the 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.