In a groundbreaking international collaboration, Interpol has successfully concluded Operation HAECHI IV, a six-month operation targeting online financial crimes that has sent shockwaves through the global cyber underworld. This concerted effort involved law enforcement agencies from 34 countries across Asia, Africa, Europe, North America, and Oceania, resulting in the arrest of nearly 3,500 individuals and the seizure of assets totaling an astounding $300 million.
The operation‘s primary focus was on combatting seven major types of cyber fraud that have been plaguing individuals and businesses worldwide. These include voice phishing, romantic scams, extortion, investment fraud, money laundering linked to illegal online gambling, business email compromise (BEC) fraud, and e-commerce scams.
The impressive results of Operation HAECHI IV speak volumes about the sheer scale of transnational organized crime thriving in the digital realm. A staggering 82,112 suspicious bank accounts were blocked, and a substantial $199 million in cash, coupled with $101 million in virtual assets, were seized. Investment fraud, BEC fraud, and e-commerce scams emerged as the primary targets, collectively representing 75% of the investigations conducted during this operation.
Interpol emphasized that the seized $300 million represents not just a monetary triumph but a significant blow against criminal enterprises that thrive on exploiting innocent victims. The accumulated illicit wealth poses a severe threat to global security, shaking the foundations of economic stability in countries around the world.
One of the remarkable achievements of Operation HAECHI IV was the collaboration with Virtual Asset Service Providers (VASPs), which enabled the identification of 367 virtual asset accounts linked to transnational organized crime. Law enforcement agencies successfully froze these assets, signaling a significant stride in combating the financial infrastructure of cybercriminal networks.
In a notable instance, the cooperation between authorities in the Philippines and Korea led to the apprehension of a high-profile criminal in the online gaming sphere in Manila. This individual had been on the run from Korean police for two years, showcasing the tangible results of cross-border collaboration.
As the operation unfolded, it also brought to light emerging fraudulent practices in the digital realm. Authorities in Korea uncovered a new scheme involving the sale of NFTs (non-fungible tokens) with promises of substantial returns, only to be exposed as a “rug pull” – a common scam in the crypto industry. Meanwhile, a second warning highlighted the misuse of AI technologies, with criminals creating deepfakes to conceal their identities and impersonate family members, friends, or romantic partners of the victims.
In the aftermath of Operation HAECHI IV, global law enforcement agencies are on high alert, urging individuals and businesses to remain vigilant against evolving cyber threats. This landmark operation serves as a testament to the power of international cooperation in the face of an ever-expanding digital frontier of crime.