Transnational Crime Crackdown: Fraud Rings, Crypto Laundering, Wildlife Trafficking & Ransomware Gangs Busted!
J. Adriana Juric, AMLP Forum
Chair, The Association of Financial Crime Prevention Professionals
Global law enforcement is taking down major transnational crime networks, dismantling fraud, money laundering, cyber extortion, and trafficking operations worth billions. From ransomware syndicates and investment scams to wildlife smuggling and drug cartels, authorities are making bold moves against organized crime.
Typologies: Investment fraud, money laundering, cross-border financial crime.
Details: Law enforcement in France, Spain, and Israel, with Europol support, took down a renewable energy investment scam that exploited fake company bank accounts, forged investment contracts, and social engineering tactics to deceive victims. Fraudsters used small "interest" payouts to build trust before stealing large sums.
Impact: Six arrests, €133,800 in cash and luxury items seized, and €450,000 recovered, with ongoing efforts to trace further losses.
? Europol-Led Operation Takes Down Phobos and 8Base Ransomware Leaders, 27 Servers Seized (11 Feb 25)
Typologies: Ransomware-as-a-Service (RaaS), double extortion, cyber extortion, crypto laundering.
Details: A 14-country law enforcement operation, backed by Europol and Eurojust, led to the arrest of four key 8Base ransomware members and the seizure of 27 servers. Criminals used Phobos ransomware, exploiting the RaaS model, phishing campaigns, and RDP brute-force attacks to encrypt SMBs' data and demand cryptocurrency ransoms. Phobos, first detected in 2018, thrives on weak cybersecurity defenses, enabling affiliates like 8Base to launch widespread extortion campaigns. Previous arrests include a Phobos administrator in South Korea (2024) and an affiliate in Italy (2023).
Impact: Authorities prevented attacks on 400+ companies, disrupted major ransomware distribution networks, and dismantled key infrastructure used in cyber extortion schemes.
Typologies: Cyber-enabled fraud, drug and human trafficking, investment scams, money laundering.
Details: In a five-day operation (23-27 Sept 2024), 12 Nigerian agencies, with INTERPOL and AFRIPOL, arrested 36 suspects and seized $3M, targeting cyber-enabled fraud and human trafficking. Criminals exploited social engineering, digital payment systems, encrypted messaging apps, and cryptocurrency transactions to evade detection. Authorities rescued 12 victims and arrested a recruiter posing as a victim.
Impact: Seizures included 19kg of cocaine worth USD 2.8M, 51kg of cannabis, weapons, and ammunition. The operation highlights the growing youth involvement in organized crime.
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Typologies: Wildlife trafficking, illegal timber trade, poaching, transnational organized crime.
Details: Operation Thunder 2024 (11 Nov – 6 Dec), led by INTERPOL and WCO across 138 countries, seized nearly 20,000 live animals and dismantled six trafficking networks. Criminals exploited illegal breeding, smuggling routes, and online marketplaces to traffic big cats, pangolins, primates, and exotic wildlife products. Authorities arrested 365 suspects and seized 134 tonnes of timber, 4.5 tonnes of pangolin scales, and intercepted rhino horns and shark fins.
Impact: The operation disrupted wildlife smuggling routes, identified 100+ trafficking-linked companies, and reinforced intelligence-sharing networks. DNA collection from seized animals will support prosecutions and improve enforcement strategies against global trafficking networks.
Typologies: Drug trafficking, counterfeit medicine trade, vehicle smuggling, terrorism financing.
Details: Operation Screen West Africa (21 Oct – 24 Nov 2024), led by INTERPOL across 12 countries, from Canada and Europe, resulted in 45 arrests and major seizures. Criminals used drug routes, forged passports, and vehicle smuggling to evade detection. Authorities seized 1.6 tonnes of cocaine ($50M), 10 tonnes of amphetamines, 40 tonnes of fake pharmaceuticals, and intercepted 82 stolen passports, 11 fugitives.
Impact: Over 100 stolen luxury vehicles from Canada and Europe were recovered, disrupting a trafficking network funding organized crime and terrorism while strengthening border security.
Typologies: Corporate account fraud, forged identities, bank-assisted laundering, cross-border financial crime.
Details: Vietnamese authorities uncovered Da Nang’s largest money laundering scheme, arresting five suspects, including a bank employee. Criminals used forged IDs, fake bank seals, and shell companies to open 600+ corporate accounts, laundering $1.2B from fraud and gambling.
Impact: Police seized 122 fake seals and 40 business registration certificates. The bust underscores Vietnam’s crackdown on financial crime, following the high-profile conviction of property tycoon Truong My Lan on ML charges in October 2024.
?? Stay tuned!