Major Interpol cybercrime operation results in 3,500 arrests and $300 million seized
About 3,500 people have been arrested and about $300 million seized in a major international law enforcement operation against cybercriminals around the world.
The operation, codenamed HAECHI IV and led by Interpol together with partners in 34 countries, took place between July and December this year and targeted cybercriminals involved in voice phishing, romance scams, online sextortion, investment fraud, money laundering related to illegal online gambling, business email compromise fraud, and e-commerce fraud.
Their bank accounts were identified and frozen, and their virtual assets seized using Interpol's Global Rapid Intervention of Payments (I-GRIP), a payment halt mechanism that helps countries work together to block criminal proceeds. Among those arrested is a 'high-profile online gambling criminal' who police have been actively searching for over the past two years. The announcement also states that their illegal gambling network has been dismantled.
Serious threat to global security
âThe $300 million seizure represents a staggering amount and clearly illustrates the driving force behind the current explosive growth of transnational organized crime,â said Stephen Kavanagh, Executive Director of Interpol Police Services. âThis represents the savings and hard-earned money of the victims. This massive accumulation of illicit wealth poses a serious threat to global security and weakens the economic stability of countries around the world.â
Investment fraud, business email compromise and e-commerce fraud make up 75% of all cases investigated in HAECHI IV. The masterminds behind the common ârug pullâ cryptocurrency scam were also arrested. Apparently, some individuals sold non-fungible tokens and promised huge returns, only to make off with the money that gullible investors poured into the project. Additionally, some of the arrested criminals also used artificial intelligence (AI) and deepfake technology to improve the perceived credibility of scams and help them better conceal their identities.
Among the countries participating in HAECHI IV are the United States, Great Britain, Japan, Spain and Sweden.