Authorities from 34 countries collaborated on a six-month operation, HAECHI IV, targeting various online financial frauds like BEC, investment fraud, and voice phishing. This initiative led to the arrest of about 3,500 suspects and the seizure of $300 million in assets, including hard currency and cryptocurrency. Interpol revealed that investment fraud, BEC, and ecommerce fraud accounted for 75% of the cases. Europol’s accompanying report highlighted the prevalence of investment fraud and BEC schemes in online financial crime, emphasizing the thriving market for stolen data and the utilization of cybercrime services, VPNs, and infrastructure providers in executing illicit activities.

Read more: https://www.securityweek.com/3500-arrested-300-million-seized-in-international-crackdown-on-online-fraud/