International Operation Haechi V, conducted by Interpol from July to November 2024, resulted in the arrest of more than 5,500 suspects in cybercrimes, including investment scams, email compromise and extortion. During the operation, over $400 million was seized in both cryptocurrency and fiat money. In addition, law enforcement agencies managed to eliminate the largest network of telephone scammers, the damage from which amounted to $1.1 billion.
Image source: Interpol
Law enforcement agencies from 40 countries, including the United States, Canada and China, took part in the operation. Funding for the operation was provided by the South Korean government. The main objectives were not only to identify and apprehend criminals, but also to return stolen assets. In one of the largest operations, police in South Korea and China have dismantled a Chinese syndicate of phone scammers.
The criminals called victims, posing as police officers, and convinced them to transfer money to “safe” accounts, citing false criminal charges. Fake IDs and arrest warrants were used to enhance trust. According to the investigation, about 1,900 victims fell into the scammers’ network, which led to financial losses amounting to $1.1 billion. As part of the operation, 27 suspects were arrested, 19 of whom were brought to trial.
Unmasking business email compromise schemes was another important part of the operation. Criminals infiltrated corporate email accounts and sent out fake requests to transfer funds on behalf of company management. In one such case, a Singapore firm transferred $42.3 million to the account of a shell supplier. However, thanks to the prompt actions of Interpol, it was possible to intercept $39.3 million and detain seven suspects. Additionally, another $2.6 million was returned, which was transferred by scammers from East Timor to Indonesia.
The Internet allows criminals to effectively hide their tracks and move funds between countries while remaining beyond the reach of law enforcement. Interpol, through Operation Haechi V, has made significant strides in facilitating interactions between different jurisdictions. Thanks to the rapid exchange of information and unification of procedures, it became possible not only to detain criminals, but also to effectively block their assets.
The results of Operation Haechi V are impressive. In five months, more than 5,500 suspects were arrested, and the number of solved cases reached 8,309 – almost double the number of previous operations in 4 years. This emphasizes the importance of international cooperation in the fight against cybercrime, as well as the need to further develop interaction between countries.