More than $250M Seized in Global Online Scam Crackdown
27 June 2024 at 11:34
βBy confiscating such large amounts of money, and disrupting the networks behind them, we not only safeguard our communities but also deal a significant blow to the transnational organized crime groups that pose such a serious threat to global security.β - Director of Interpolβs Financial Crime and Anti-Corruption Centre (IFCACC), Dr Isaac Kehinde Oginni
Global Online Scam Crackdown Impact
The impact of this police operation against global online scam is βmore than just numbers β they represent lives protected, crimes prevented, and a healthier global economy worldwide,β Oginni said. Interpolβs Global Rapid Intervention of Payments (I-GRIP) mechanism traced and intercepted the illicit proceeds from online scams across borders in both, fiat currency cash ($135 million) and cryptocurrency ($2 million). An example of this interception was a business email compromise fraud that involved a Spanish citizen who unwittingly transferred $331,000 to Hong Kong, China, the Interpol said. In another case, the Australian authorities successfully recovered AU$ 5.5 million (approximately $3.7 million) for an impersonation scam victim, after the online scammers fraudulently transferred the funds to Malaysia and Hong Kong-based bank accounts. The global nature of online scams was underscored by the operationβs diverse participants. From rescuing 88 young people forced to work in a Namibian scam ring to preventing a tech support scam targeting a senior citizen in Singapore, Operation First Light 2024 showcased the importance of international cooperation. Operations of First Light have been coordinated since 2014 and are designed to fight social engineering and telecom fraud. The operation is funded by Chinaβs Ministry of Public Security and coordinated by Interpol. [caption id="attachment_79238" align="aligncenter" width="1024"]![Global Online Scam, Global Online Scam Crackdown, Interpol](../themes/icons/grey.gif)
βNo country is immune to this type of crime, and combating it requires very strong international cooperation.β - Dr Isaac Kehinde Oginni