International operation sees Interpol arrest over 5000 and seize $400 million

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Operation HAECHI V has led to the demise of multiple scam organizations

The emblem of the International Criminal Police Organization Interpol on a textured blue background.
(Image credit: Shutterstock)
  • Interpol announces Operation HAECHI V, which lasted five months
  • The operation resulted in the arrest of dozens of people, and seizure of millions of dollars
  • 40 countries and regions around the world participated

Over the past five months, Interpol and its national partners have arrested more than 5,500 individuals and seized over $400 million stolen through various cybercrime campaigns and fraud schemes.

In an official announcement, Interpol outlined how Operation HAECHI V, launched in July 2023, targeted seven types of cyber-fraud: voice phishing, romance scams, online sextortion, investment fraud, illegal online gambling, business email compromise, and ecommerce fraud.

Interpol did not list any names, but it did say that it helped Korean and Chinese authorities dismantle a voice phishing organization that cost more than 1,900 people around $1.1 billion. The operation resulted in the arrest of at least 27 group members, and the indictment of 19 of them.

Stopping payments

Interpol added it had also dismantled a crypto scam, in which victims were first coaxed into buying a “stablecoin” called Tether (USDT) from a legitimate service provider. A stablecoin’s value is tied to that of a fiat currency, such as the US dollar, and its value is always the same as its fiat counterpart. Then, the victims were enticed into “investing” that stablecoin, which is where the crooks would steal the funds.

Finally, it used its Global Rapid Intervention of Payments (I-GRIP) stop-payment mechanism to save a business from wiring $42.3 million to the fraudsters. The victim had already transferred the money, but Interpol managed to intercept the majority of the funds, and recover the rest later during investigation.

“The effects of cyber-enabled crime can be devastating - people losing their life savings, businesses crippled, and trust in digital and financial systems undermined,” commented Interpol Secretary General Valdecy Urquiza.

“The borderless nature of cybercrime means international police cooperation is essential, and the success of this operation supported by INTERPOL shows what results can be achieved when countries work together. It’s only through united efforts that we can make the real and digital worlds safer.”

Law enforcement firms in roughly 40 countries and regions participated in HAECHI V.

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Sead Fadilpašić

Sead is a seasoned freelance journalist based in Sarajevo, Bosnia and Herzegovina. He writes about IT (cloud, IoT, 5G, VPN) and cybersecurity (ransomware, data breaches, laws and regulations). In his career, spanning more than a decade, he’s written for numerous media outlets, including Al Jazeera Balkans. He’s also held several modules on content writing for Represent Communications.