HAECHI IV Bites: Global Operation Snags 3,500 Cybercriminals, Seizes Millions
Interpol announced that the international law enforcement operation “Operation HAECHI IV,” aimed at combating financial crimes online, led to the arrest of nearly 3,500 individuals and the seizure of assets worth $300 million across 34 countries. The six-month operation saw participation from countries in Asia, Africa, Europe, North America, and Oceania.
Source: Interpol
The operation’s objective was to combat seven types of cyber fraud:
- Voice phishing;
- Romantic scams;
- Extortion;
- Investment fraud;
- Money laundering associated with illegal online gambling;
- Business Email Compromise (BEC) fraud;
- E-commerce fraud.
As a result, 82,112 suspicious bank accounts were blocked, and assets worth $199 million in cash and $101 million in virtual assets were seized. Investment fraud, BEC fraud, and e-commerce scams accounted for 75% of all investigations under Operation HAECHI IV.
Interpol noted that the seizure of assets worth $300 million represents a significant sum, vividly illustrating the incentives for the rapid growth of transnational organized crime. These are the savings and hard-earned money of victims. Such an accumulation of illicit wealth poses a serious threat to global security and undermines the economic stability of countries worldwide.
In collaboration with various Virtual Asset Service Providers (VASP), Interpol aided agents in identifying 367 virtual asset accounts linked to transnational organized crime. Law enforcement agencies from participating countries successfully froze these assets, and investigations continue.
During the operation, cooperation between authorities in the Philippines and Korea also led to the arrest of a high-profile criminal in the online gaming sphere in Manila, who had been on the run from Korean police for two years.
Officers warned countries about emerging fraudulent practices in digital investments. In Korea, a new scheme involving the sale of NFTs (non-fungible tokens) with promises of substantial returns was discovered, which turned out to be a “rug pull” – a common scam in the crypto industry where developers suddenly abandon a project, leaving investors with losses.
The second warning concerned the use of AI technologies and the creation of deepfakes to lend credibility, allowing criminals to conceal their identities and impersonate family members, friends, or romantic partners of the victims.
