Police around the world have arrested 3,950 people and seized assets totaling $US257 million in a coordinated effort to crack down on online scams, according to a news release Thursday from Interpol. Dubbed Operation First Light 2024, the scammers engaged in a variety of online crimes, including phishing, investment fraud, taking in money from fake shopping sites, and romance scams, the international law enforcement agency says.
The international effort from March to May of this year spanned 61 countries and included the combined seizure of $US135 million in fiat currency and $US2 million in crypto. Police seized roughly $US120 million in assets, including real estate, luxury cars, and jewelry. The operation also identified an additional 14,643 “other possible suspects,” according to Interpol.
Dr. Isaac Kehinde Oginni, the director of Interpol’s Financial Crime and Anti-Corruption Center (IFCACC), celebrated the effort in a news release.
“The results of this global police operation are more than just numbers—they represent lives protected, crimes prevented, and a healthier global economy worldwide,” Oginni said. “By confiscating such large amounts of money, and disrupting the networks behind them, we not only safeguard our communities but also deal a significant blow to the transnational organized crime groups that pose such a serious threat to global security.”
News of the arrests, first reported by The Record, comes as authorities in the U.S. warn about a huge uptick in online scams, with over $US10 billion lost by consumers last year alone. And fraud isn’t just achieved through electronic payments like crypto.
The FTC recently reported that Americans lost $US76 million in cash to people impersonating government agents last year. Back in February, New York magazine’s financial advice columnist wrote about her own experience losing cash to scammers in a piece titled, “The Day I Put $US50,000 in a Shoe Box and Handed It to a Stranger.”
Online scammers work hard to separate you from your money, but if you’re ever contacted by someone claiming to be with the CIA and they tell you to put all your money in a shoebox please think twice about what you’re doing.