This holiday season, Interpol delivered a powerful blow to cybercrime. The international law enforcement organization coordinated an operation that led to the arrest of over 5,500 people accused of various cybercrimes, including fraud, scams, and sextortion. The operation, named Haechi V, was a massive global effort spanning five months and involving 40 countries. In addition to the arrests, the operation resulted in the seizure of more than $400 million in digital and physical assets.
What’s Happening & Why This Matters
From July to November 2024, Haechi V targeted seven types of cybercrimes, such as investment fraud, romance scams, and business email compromise (BEC). The scale of the operation is staggering. Law enforcement from countries including the U.S., Canada, and China worked together, with the South Korean government providing funding.
One of the largest successes of the operation came from the dismantling of a voice phishing syndicate that used fake law enforcement calls to trick victims into transferring money. This group targeted at least 1,900 victims, causing $1.1 billion in financial losses. Thanks to the operation, police were able to arrest 27 suspects and indict 19 others, marking a significant victory in the fight against organized fraud.
Tackling Business Email Compromise (BEC)
Another major success came in the form of BEC schemes, where hackers impersonate high-ranking employees to trick businesses into wiring funds to fraudulent accounts. In one case, a Singaporean firm lost $42.3 million to such a scam. Fortunately, Interpol stepped in, managing to recover $39.3 million from the fraudulent account.
Seven suspects were arrested in connection to the scam, and additional illicit funds were recovered. Further investigations revealed that the stolen money had been funneled through multiple countries, including Timor Leste and Indonesia .
A Record Year for Interpol
Haechi V marked the fifth year of the annual operation, and this year’s results were impressive. The number of arrests nearly doubled from previous years, with a record-breaking 8,309 cases solved. This shows the growing ability of international law enforcement to track and apprehend cybercriminals, even when they operate across borders.
Interpol’s strategy to tackle cybercrime has focused on streamlining cooperation between various police agencies worldwide. This allows them to respond quickly to online threats and disrupt cybercriminal networks before they can cause too much damage .
TF Summary: What’s Next?
As scams grow in sophistication, global cooperation is key in fighting back. Interpol’s Haechi V operation demonstrates the power of coordinated efforts between international law enforcement agencies. With cybercriminals exploiting the borderless nature of the internet, it is a necessity for governments to increase collaboration and develop new tools that eliminate offenders. Entering 2025, TF Europe (and our other divisions) expect even more focused efforts to combat online fraud that enact safer digital environments for all.
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