Investigators in Ukraine have uncovered a fraud perpetrated against citizens of their nation and the European Union. This strategy makes use of a variety of fraudulent financial practices, including those that are associated with cryptocurrency. The criminal organization members contacted the victims using call centers to get sensitive personal and financial information from their victims.
Ukrainian Scam Call Centers Guarantee Significant Returns on Cryptocurrency Investments
The criminal organization came to its knees thanks to the combined efforts of the Ukrainian National Police’s Main Investigative Department and the Security Service of Ukraine (SBU). The criminals run schemes to rob individuals of their money in the country and in many other nations that are members of the European Union. Investors were encouraged to participate in the buying and selling of cryptocurrencies, securities, and commodities on an exchange by the criminal organization’s members.
According to the inquiry findings, the criminals carried out their scheme to steal credit card information by establishing a network of call centers from which they purported to be representatives of state financial institutions. They spoofed their phone numbers to make it seem like they were the banks’ official contact numbers. The fraud was successful using cutting-edge gear and software.
As part of their scheme, the fraudsters constructed fake online markets where users could purchase and trade real and virtual currencies, stocks, bonds, and commodities such as gold and oil. These marketplaces were all part of the hoax. The plan came to light in a press bulletin issued by the National Police of Ukraine on Tuesday.
They said that the scam’s perpetrators had promised enormous earnings in a short period to entice financial investments. In addition, the fraudsters could gain their hands on a database that included the personal information of international individuals who had previously been the victims of similar schemes.
They pretended to work for a “Community of bitcoin brokers” and offered to assist victims in recovering their monies in exchange for a “commission.” After opting to use the phony organization’s services, the necessary information will be available to these people to transfer the commission to bank accounts controlled by the criminals behind the hoax.
After receiving payment, the “brokers” will not respond to further communication.
Scammers Engaging in Large-scale Fraud Face up to 12 Years in Jail
During searches by Ukrainian law enforcement at the sites of the call centers, computers, mobile phones, and proof papers confirming the illegal activities were seized. According to the rules of Ukraine’s Criminal Code, the maximum punishment for anybody found guilty of engaging in large-scale fraud carried out by an organized gang and the usage, distribution, or sale of malicious software is twelve years in prison for each offense.