Operation HAECHI IV has resulted in nearly 3,500 arrests targeting online financial crime syndicates across 34 countries In a sweeping transcontinental law enforcement initiative spanning five months. This concerted effort, involving collaboration between authorities, specifically focused on seven types of cyber-enabled scams, leading to the seizure of assets totaling $300 million.
The operation, supported by International Police (Interpol) Global Rapid Intervention of Payments (I-GRIP), where Uganda is a member, played a pivotal role in detecting fraud and freezing associated bank and virtual asset service provider (VASP) accounts. In Kampala, 20 bank accounts linked to fraudsters have been frozen, pending ongoing investigations.
Collaborative efforts between Filipino and Korean authorities led to the apprehension of a high-profile online gambling criminal in Manila. Overall, 82,112 suspicious bank accounts were successfully blocked, with $199 million in hard currency and $10 million in virtual assets seized during the operation.
Stephen Kavanagh, Interpol’s Executive Director of Police Services, highlighted the global threat posed by transnational organized crime and commended the 200% surge in arrests during HAECHI IV. This underscores the persistent challenge of cyber-enabled crime, showcasing the necessity for continued international cooperation.
The crackdown, spanning from July to December of the previous year, primarily targeted investment fraud, business email compromise, and e-commerce fraud, accounting for 75% of the cases investigated in HAECHI IV. INTERPOL, working with various VASPs, assisted frontline officers in identifying 367 virtual asset accounts linked to transnational organized crime. Authorities in member countries froze these assets, and investigations are currently underway.
Kim Dong Kwon, INTERPOL’s Head of the National Central Bureau in Korea, expressed satisfaction at the substantial growth in operational outcomes resulting from global efforts to stay ahead of evolving criminal trends. He emphasized that Project HAECHI would continuously evolve and expand its scope to ensure the apprehension and punishment of criminals.
Two Purple Notices were issued during Operation HAECHI IV, warning countries about emerging digital investment fraud practices. One notice raised awareness about a new scam in Korea involving the sale of Non-Fungible Tokens promising significant returns, which turned out to be a “rug pull” – a scam where developers abruptly abandon a project, leading investors to lose their money. The second notice highlighted the use of AI and deep fake technology to lend credibility to scams, allowing criminals to hide their identities and impersonate family members, friends, or love interests.
The UK leg of the operation reported instances where AI-generated synthetic content was used to deceive, defraud, harass, and extort victims, particularly through impersonation scams, online sexual blackmail, and investment fraud.
