International operation sees Interpol arrest over 5000 and seize $400 million

Date:
Mon, 02 Dec 2024 16:28:00 +0000

Description:
Operation HAECHI V has led to the demise of multiple scam organizations and
to a number of arrests.

FULL STORY ======================================================================Interpol
announces Operation HAECHI V, which lasted five months The operation
resulted in the arrest of dozens of people, and 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 over $400 million stolen through various cybercrime campaigns and fraud schemes. The international law enforcement agency confirmed the news in a press release published late last week.

As per the announcement, the police have been engaged in Operation HAECHI V since July last year. This operation 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 list any names, but it did say that it helped Korean and Beijing authorities dismantle a voice phishing organization that cost more than 1,900 people around $1.1 billion. The operation resulted in the arrest
of at least 27 group members, and the indictment of 19 of them. Stopping payments

It also said it dismantled a crypto scam, in which victims were first coaxed into buying a stablecoin called Tether (USDT) from a legitimate service provider. A stablecoins value is tied to that of a fiat currency, such as the US dollar, and its value is always the same as its fiat counterpart. Then,
the victims were enticed into investing that stablecoin, which is where the crooks would steal the funds.

Finally, it used its Global Rapid Intervention of Payments (I-GRIP) stop-payment mechanism to save a business from wiring $42.3 million to the fraudsters. The victim had already transferred the money, but Interpol
managed to intercept the majority of the funds, and recover the rest later during investigation.

The effects of cyber-enabled crime can be devastating - people losing their life savings, businesses crippled, and trust in digital and financial systems undermined, commented Interpol Secretary General Valdecy Urquiza.

The borderless nature of cybercrime means international police cooperation is essential, and the success of this operation supported by INTERPOL shows what results can be achieved when countries work together. Its only through united efforts that we can make the real and digital worlds safer.

Law enforcement firms in roughly 40 countries and regions participated in HAECHI V. You might also like Consolidating your incident response plan against cyber attacks Here's a list of the best firewalls today These are the best endpoint protection tools right now



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Link to news story: https://www.techradar.com/pro/security/international-operation-sees-interpol-a rrest-over-5000-and-seize-usd400-million


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