In an international operation, Interpol arrests more than 5,000 people and seizes $400 million
- Interpol announces Operation HAECHI V, which lasted five months
- The operation resulted in the arrest of dozens of people and the seizure of millions of dollars
- 40 countries and regions around the world participated
Over the past five months, Interpol and its national partners have arrested more than 5,500 individuals and seized more than $400 million stolen through various cybercrime campaigns and fraud schemes.
In an official announcement, Interpol outlined how Operation HAECHI V, launched in July 2023, targeted seven types of cyber fraud: voice phishing, romance scams, online sextortion, investment fraud, illegal online gambling, business email compromise and e-commerce fraud.
Interpol did not name names but said it helped Korean and Chinese authorities dismantle a voice phishing ring that cost more than 1,900 people about $1.1 billion. The operation resulted in the arrest of at least 27 group members and the indictment of 19 of them.
Stop payments
Interpol added that it had also dismantled a crypto scam, where victims were first persuaded to purchase a ‘stablecoin’ called Tether (USDT) from a legitimate service provider. The value of a stablecoin is pegged to that of a fiat currency, such as the US dollar, and its value is always the same as that of its fiat counterpart. The victims were then tricked into ‘investing’ that stablecoin, where the crooks would steal the money.
Finally, it used its Global Rapid Intervention of Payments (I-GRIP) stop payment mechanism to save a company from transferring $42.3 million to the fraudsters. The victim had already transferred the money, but Interpol managed to intercept most of the money and recover the rest later during the investigation.
“The consequences of cybercrime can be devastating: people lose their savings, businesses are paralyzed and confidence in digital and financial systems is undermined.” commented Interpol Secretary General Valdecy Urquiza.
“The borderless nature of cybercrime means that international police cooperation is essential, and the success of this operation, supported by INTERPOL, shows the results that can be achieved when countries work together. Only through joint efforts can we make the real and digital world safer.”
Law enforcement companies in approximately 40 countries and regions participated in HAECHI V.
