Interpol Disrupts Scam Networks: 6,745 Bank Accounts Frozen, $2M Crypto Seized, 3,950 Arrested

  news.bitcoin.com 28 June 2024 07:10, UTC

Interpol’s Operation First Light, a global initiative involving 61 countries, has disrupted online scam networks by freezing 6,745 bank accounts and seizing assets worth $257 million, including $2 million in cryptocurrency. The operation targeted phishing, investment fraud, fake online shopping sites, romance, and impersonation scams, leading to the arrest of 3,950 suspects and identifying 14,643 potential suspects worldwide.

Operation First Light Cracks Down on Online Scams

The International Criminal Police Organization (Interpol) announced Thursday that Operation First Light, a global initiative involving 61 countries, has delivered a substantial blow to online scam networks. The operation resulted in the freezing of 6,745 bank accounts and the seizure of assets valued at $257 million. The announcement describes:

Targeting phishing, investment fraud, fake online shopping sites, romance and impersonation scams, Operation First Light 2024 led to the arrest of 3,950 suspects and identified 14,643 other possible suspects in all continents.

During the operation, police intercepted approximately $135 million in fiat currency and $2 million in cryptocurrency. Additionally, authorities seized over $120 million worth of assets, including real estate, luxury vehicles, high-end jewelry, and other valuable items.

Operation First Light began in 2023 and concluded with its final tactical phase from March to May 2024. Funded by China’s Ministry of Public Security, the operation ended with a meeting in Tianjin, where participating countries reviewed results, exchanged intelligence, and strategized future actions. Since 2014, Interpol has coordinated First Light operations to bolster international cooperation and strengthen efforts against social engineering and telecom fraud.

Interpol detailed:

Using Interpol’s Global Rapid Intervention of Payments (I-GRIP) mechanism to help them trace and intercept the illicit proceeds of crime, both in fiat and cryptocurrency, police intercepted USD 331,000 in a business email compromise fraud involving a Spanish victim who transferred money to Hong Kong, China.

What do you think about Interpol’s Operation First Light to combat online scam networks? Let us know in the comments section below.

Source