3,500 arrested, $300M seized in global cybercrime crackdown

Technology News , World :- Law enforcement agencies from 34 countries joined forces in a recent global initiative, Operation HAECHI IV, resulting in the arrest of 3,500 individuals and the confiscation of assets totaling $300 million. The six-month operation, led by Interpol, specifically targeted seven types of cybercrimes, including voice phishing, romance scams, online sextortion, investment fraud, money laundering associated with illegal online gambling, business email compromise fraud, and e-commerce fraud.

During the operation, authorities successfully blocked 82,112 suspicious bank accounts, seizing $199 million in hard currency and an additional $101 million in virtual assets. Interpol Global Rapid Intervention of Payments (I-GRIP) played a pivotal role, allowing investigators to freeze associated bank and virtual asset service provider accounts collaboratively.

The staggering amount seized during Operation HAECHI IV highlights the alarming growth of transnational organized crime and its impact on global security. Stephen Kavanagh, Interpol executive director of police services, emphasized that the accumulated unlawful wealth poses a serious threat to the economic stability of nations worldwide, representing the savings and hard-earned cash of victims.

The operation also uncovered cases involving AI-generated synthetic content, including deep fake technology, used by criminals to deceive, defraud, harass, and extort victims. Investment fraud, business email compromise, and e-commerce fraud constituted 75% of the cases investigated during the operation.

In a notable success story, Filipino and Korean authorities collaborated to apprehend a high-profile online gambling criminal in Manila, dismantling the illegal gambling operation he allegedly ran. Interpol issued "purple notices" during the operation, warning about emerging digital investment fraud practices, such as non-fungible token (NFT) scams and the use of AI and deep fake technology to lend credibility to scams.

HAECHI IV demonstrated a 200% surge in arrests compared to the previous year, underscoring the persistent challenge of cyber-enabled crime. The international policing effort, involving countries like Argentina, Australia, India, the United States, and others, showcased the effectiveness of collaborative approaches in combating cyber threats.

Interpol Kim Dong Kwon praised the success of HAECHI IV, emphasizing the ongoing evolution and expansion of Project HAECHI to stay ahead of contemporary cybercrime trends. The global collaboration aims to deter and punish criminals who exploit technological advancements for illicit gains.