Operation HAECHI V, a cooperative initiative involving law enforcement from 40 nations, resulted in over 5,500 financial crime arrests and asset seizures exceeding USD 400 million. The operation targeted various cyber fraud cases, including voice phishing and investment scams, and spotlighted emerging threats in cryptocurrency fraud. It significantly enhanced international law enforcement collaboration and rapid response capabilities.
A recent global law enforcement operation, Operation HAECHI V, concluded with over 5,500 arrests and the seizure of assets exceeding USD 400 million. This initiative involved collaboration among agencies from 40 countries across five months, specifically targeting various forms of cyber-enabled fraud, including voice phishing, romance scams, online sextortion, investment fraud, illegal gambling, business email compromise, and e-commerce fraud.
Notably, South Korean authorities, in collaboration with officials from Beijing, successfully dismantled a major voice phishing syndicate responsible for approximately 1.1 billion USD in financial losses, affecting more than 1,900 victims. The crime group operated by impersonating law enforcement and using forged identification, leading to arrests and indictments of its key members.
The operation also highlighted new trends in cryptocurrency scams, prompting INTERPOL to issue a Purple Notice. Criminals implemented methods like the “USDT Token Approval Scam” to gain unauthorized access to victims’ cryptocurrency wallets. By using deceptive tactics combining romance schemes and phishing links, fraudsters exploited victims’ trust, resulting in substantial financial losses.
INTERPOL Secretary General Valdecy Urquiza emphasized the devastating impact of cyber-enabled crimes on individuals and businesses. He underscored that international cooperation among law enforcement is vital, citing the operation’s success as a testament to the effectiveness of collaborative efforts in combating cybercrime.
Additionally, LEE Jun Hyeong, Head of Korea’s INTERPOL National Central Bureau, commended global police forces for their commitment during Operation HAECHI V, which not only brought criminals to justice but also helped recover illicit funds. This operation marked the fifth year of HAECHI and achieved significant progress compared to previous years, solving nearly 8,309 cases and interrupting over 1,023 virtual asset service accounts.
Alongside this, INTERPOL implemented the Global Rapid Intervention of Payments (I-GRIP) in over 80 countries, a proactive measure to quickly intercept stolen funds. For example, when a Singaporean company fell victim to fraud, I-GRIP facilitated inter-agency coordination, leading to the recovery of nearly USD 39.3 million, preventing further losses.
In another instance in Guernsey, UK, an I-GRIP awareness session helped intercept about GBP 2 million linked to business email scams, enabling the authorities to recover the entire amount for the victim. The operation serves as a reminder of the critical importance of international collaboration in addressing and mitigating financial crimes worldwide.
Operation HAECHI V has resulted in significant strides against financial crime, with over 5,500 arrests and the recovery of over USD 400 million. It showcased the power of international cooperation in tackling cyber-enabled fraud, highlighting evolving scams like cryptocurrency fraud. Efforts such as I-GRIP further enhanced the swift interception of stolen funds, demonstrating the effectiveness of rapid response mechanisms in financial crime prevention.
Original Source: www.interpol.int
