A joint investigation between Belgian and Dutch law enforcement authorities, along with help from the European Cybercrime Centre at Europol and Eurojust, has resulted in the arrest of a dozen suspected members of a voice-phishing ring, according to a Tuesday release.

In the two-part scheme, the Netherlands-based perpetrators first sent emails – in which they claim to be Belgian banks – to targets in Belgium. Next, the scammers would call the targets by phone and seek out personal information.

The gathered information would then be used to access accounts and transfer money, according to the release, which adds that targets and banks suffered millions of euros in losses.

Thousands of euros and “digital evidence” were seized at the time of the arrest, according to the release.