In a sweeping global effort to combat financial cybercrime, INTERPOL has announced the arrest of over 5,500 individuals and the recovery of more than $400 million in both digital assets and government-issued currencies. The operation, a testament to cross-border collaboration, underscores the escalating threat posed by cyber-enabled financial fraud.
A Multinational Operation
Dubbed Operation HAECHI-V, the crackdown unfolded between July and November 2024, bringing together law enforcement agencies from 40 countries, territories, and regions. This fifth iteration of the HAECHI initiative reflects an intensified focus on dismantling sophisticated cybercrime networks.
“The impact of cyber-enabled crime is profound—families lose their savings, businesses are paralyzed, and trust in digital systems erodes,” said INTERPOL Secretary General Valdecy Urquiza. “The transnational nature of these crimes necessitates unified action, and the success of HAECHI-V demonstrates the power of international cooperation. Together, we can secure both the real and virtual worlds.”
Voice Phishing Syndicate Dismantled
Among the significant achievements of the operation was the dismantling of a large-scale voice phishing syndicate orchestrated jointly by Korean and Beijing authorities. This criminal network, which impersonated law enforcement personnel using forged identification, inflicted financial losses totaling $1.1 billion on over 1,900 victims.
INTERPOL confirmed the arrest of 27 members of the organized crime group, 19 of whom have been formally indicted. The operation highlights the intricate and deceptive methods employed by cybercriminals to exploit trust and access financial resources unlawfully.
Emergence of Cryptocurrency Scams
Adding to the growing list of cyber threats, INTERPOL issued a purple notice alerting global authorities to a new cryptocurrency fraud scheme. Termed the “USDT Token Approval Scam,” the fraud exploits victims by using romance-based manipulation to persuade them into purchasing Tether stablecoins (USDT).
“Victims are lured into clicking phishing links under the guise of setting up investment accounts,” the agency explained. “In reality, these links grant scammers unrestricted access to the victims’ wallets, enabling them to siphon funds without detection.”
Building on Past Success
The results of HAECHI-V mark a significant escalation in INTERPOL’s cybercrime efforts. Nearly a year ago, the organization concluded a similar operation that led to the arrest of 3,500 individuals and the seizure of $300 million across 34 nations.
This latest campaign also aligns with INTERPOL’s ongoing initiatives in Africa, where 1,006 suspects were recently apprehended, and over 134,000 malicious digital infrastructures were dismantled.
A Call for Global Unity
HAECHI-V exemplifies the necessity of global cooperation in confronting the borderless realm of cybercrime. As criminal networks evolve and adapt, so too must the efforts of international law enforcement agencies. By working in unison, these entities can disrupt even the most intricate schemes, safeguarding financial systems and restoring trust in the digital economy.
INTERPOL’s relentless pursuit of cybercriminals serves as a stark reminder: in a world increasingly reliant on interconnected digital platforms, no corner of the virtual landscape is beyond the reach of justice.
