Over 1,000 Cybercriminals Arrested in Major Interpol Operation
Interpol has announced the arrest of 1,003 individuals connected to various cybercrimes, including romance scams, financial fraud, money laundering, business email compromise (BEC) schemes, and illegal gambling. The arrests were made as part of a large-scale operation called HAEICHI-II, which spanned 20 countries and took place from June to September 2021.
Law enforcement officers intercepted approximately $27 million stolen by criminals and blocked 2,350 bank accounts linked to different cybercrimes. During the operation, police were able to identify at least ten new fraudulent schemes, according to Interpol’s press release.
Notable Cases from the Operation
In one BEC scam, criminals attempted to trick a Colombian textile company into transferring $16 million by posing as a legitimate company representative. The funds were supposed to be sent to bank accounts in China in two transactions of $8 million each. The company transferred half the amount but became suspicious and contacted law enforcement. Ultimately, Interpol was able to recover 94% of the stolen funds.
In another case, a company in Slovenia was deceived into transferring $800,000 to money mule accounts in China. As in the previous case, police managed to recover the stolen money for the affected company.
Emerging Trends in Financial Fraud
Interpol noted a rising trend in financial fraud involving the exploitation of popular TV shows, such as “Squid Game,” to spread malware. One such case was reported in Colombia, where criminals distributed malicious apps disguised as mobile games based on the series. In reality, these apps automatically subscribed users to premium services without their consent.
Background and Previous Operations
This is the second major operation targeting online fraud conducted by law enforcement agencies. The first, called HAEICHI-I, took place from September 2020 to March 2021 in the Asia-Pacific region. That operation resulted in the arrest of 500 cybercriminals and the blocking of 1,600 fraudulent bank accounts. Police also intercepted a total of $83 million stolen by criminals.