3500 Euro to USD
A six-month global police operation, Operation HAECHI IV, resulted in nearly 3,500 arrests and the seizure of approximately $300 million USD (roughly equivalent to 273 million euros) in assets across 34 countries. The operation targeted various cyber-enabled financial crimes, including voice phishing, romance scams, online sextortion, investment fraud, money laundering linked to illegal online gambling, business email compromise, and e-commerce fraud. Investigators collaborated to identify online fraud and freeze related bank and virtual asset service provider (VASP) accounts, utilizing INTERPOL’s Global Rapid Intervention of Payments (I-GRIP) system to block criminal proceeds. A significant outcome was the apprehension of a high-profile online gambling criminal in Manila following a two-year pursuit by Korean authorities.
Authorities successfully blocked 82,112 suspicious bank accounts, confiscating $199 million USD in hard currency and $101 million USD in virtual assets. This substantial seizure underscores the immense financial incentives driving the rapid growth of transnational organized crime. These illicit gains represent significant losses for victims and pose a threat to global security and economic stability. The 200% increase in arrests compared to previous operations highlights the persistent challenge of cybercrime, emphasizing the need for continuous vigilance and adaptation of tactics to combat online fraud. Investment fraud, business email compromise, and e-commerce fraud constituted 75% of the cases investigated in HAECHI IV.
Working with various VASPs, INTERPOL assisted officers in identifying 367 virtual asset accounts connected to transnational organized crime. The assets in these accounts were frozen, and investigations are ongoing. Global efforts to stay ahead of evolving criminal trends have yielded significant operational results, demonstrating that perpetrators will ultimately be caught and face consequences. Project HAECHI will continue to evolve and broaden its scope to address emerging threats.
Two Purple Notices were issued during Operation HAECHI IV to warn countries about new digital investment fraud schemes. One notice alerted member countries to a scam involving Non-Fungible Tokens (NFTs) promising substantial returns but ultimately resulting in a “rug pull,” where developers abandon the project, leaving investors with losses. The other notice warned about the use of AI and deep fake technology to enhance the credibility of scams by concealing identities and impersonating family, friends, or romantic partners. The UK reported cases involving AI-generated content used for deception, fraud, harassment, and extortion, including voice cloning technology for impersonation scams.
Operation HAECHI IV involved participants from Argentina, Australia, Brunei, Cambodia, Cayman Islands, Ghana, Hong Kong (China), India, Indonesia, Ireland, Japan, Kyrgyzstan, Laos, Liechtenstein, Malaysia, Maldives, Mauritius, Nigeria, Pakistan, Philippines, Poland, Korea, Romania, Seychelles, Singapore, Slovenia, South Africa, Spain, Sweden, Thailand, United Arab Emirates, United Kingdom, United States, and Vietnam. The operation was financially supported by Korea.