Internet fraud: INTERPOL seizes $300M, arrests 3,500 people in sting operation across Nigeria, Ghana, others

The International Criminal Police Organisation (INTERPOL) on Tuesday, December 19, 2023, announced the conclusion of a transcontinental police operation against online financial crime with almost 3,500 arrests and seizures of $300 million worth of assets across 34 countries, Aso Naija Reports.

Subsequently, the six-month Operation HAECHI IV (July-December 2023) targeted seven types of cyber-enabled scams: voice phishing, romance scams, online sextortion, investment fraud, money laundering associated with illegal online gambling, business email compromise fraud, and e-commerce fraud.

According to INTERPOL, the operation was carried out across 34 countries, which include Argentina, Australia, Brunei, Cambodia, Cayman Islands, Ghana, Hong Kong (China), India, Indonesia, Ireland, Japan, Kyrgyzstan, Laos, Liechtenstein, Malaysia, Maldives, Mauritius, Nigeria, Pakistan, Philippines, Poland, Korea, Romania, Seychelles, Singapore, Slovenia, South Africa, Spain, Sweden, Thailand, United Arab Emirates, United Kingdom, United States, Viet Nam.

However, INTERPOL said the Investigators in HAECHI IV worked together to detect online fraud and freeze associated bank and virtual asset service provider (VASP) accounts using its Global Rapid Intervention of Payments (I-GRIP), a stop-payment mechanism that helps countries work together to block criminal proceeds.

Additionally, it added that cooperation between Filipino and Korean authorities led to the arrest in Manila of a high-profile online gambling criminal after a two-year manhunt by Korea’s National Police Agency.