Bulgarian authorities dismantle a segment of a global money laundering network operating through financial fraud

Two Bulgarians and two Ukrainian citizens, who have obtained Bulgarian citizenship, established commercial companies in the names of low-status individuals from Botevgrad, Sofia and Lovech. After the companies were established, bank accounts were opened and provided to the Ukrainian citizens, who received money transfers from various parts of the European Union through bank fraud. The fraud was carried out via phishing attacks and by misleading users into thinking they were paying pro forma invoices to suppliers. The funds were immediately transferred to countries in the Middle East, with approximately EUR 1.5 million passing through Bulgaria in this way.