Ukrainian law enforcement agencies, with the assistance of colleagues from Georgia, Germany, and Switzerland, have exposed an international criminal organization that operated, in part, on the territory of Ukraine, and frozen the assets of criminals in over 20 countries.
Starting in 2019, fraudsters created over 100 websites where they offered investors the opportunity to profit from investing in cryptocurrency and trading securities on virtual financial markets. The victims were primarily Swiss and German investors, as reported by the National Police.
To communicate with potential investors, the scammers established call centers in Ukraine and Georgia. Several hundred individuals worked there. The perpetrators recruited operators with foreign language skills and trained them to use social engineering methods when interacting with 'clients.' The fraudsters convinced citizens to make significant investments.
Additionally, to carry out financial transactions, victims were persuaded to install special software. This allowed the scammers to gain remote access to the victims' computers and transfer their savings to controlled accounts.
As part of a joint investigation with law enforcement agencies of the Swiss Confederation, extensive searches were carried out in Ukraine and Georgia. Computer equipment, mobile phones, cash, and documentation were seized. Simultaneously, assets of the organizers of the criminal organization were frozen on the territory of EU countries in over 20 countries.
Investigators from the Main Investigation Department of the National Police are conducting a criminal investigation under Article 190, Part 4 (Fraud) of the Criminal Code of Ukraine. The article prescribes a penalty of up to eight years of imprisonment. Swiss law enforcement agencies are also investigating criminal cases under Article 147 (Fraud) and Article 305 (Money Laundering Derived from Criminal Activity) of the Criminal Code of the Swiss Confederation.
Investigative actions are ongoing to identify all victims, determine the total amount of losses, and identify other accomplices of the suspects.
