Operation Chargeback: Unmasking €300 Million in Fintech Fraud

"Operation Chargeback" dismantled a €300M global fraud ring, but the investigation found more than just theft. It uncovered alleged complicity from executives inside four German payment firms and a shocking link to Wirecard fugitive Jan Marsalek. This analysis breaks down how the scandal, combined with the systemic failure of German regulator BaFin , creates an urgent imperative for centralized EU regulatory reform to save its fintech sector.