Ukrainian and Czech authorities have successfully dismantled a criminal gang responsible for a $9 million bank fraud operation conducted through deceptive phone calls.
Operating from call centers in Ukraine, the scammers employed a technique known as “vishing,” combining voice and phishing, to trick victims in Czechia into divulging sensitive information such as passwords and credit card numbers. Posing as bank security officers, the criminals coerced victims to transfer funds to a purportedly secure account. The scammers further manipulated victims by making a second call, allegedly from a fake police officer, confirming the fraudulent account activity.
The elaborate scheme involved the scammers using spoofing techniques to make calls appear as genuine numbers associated with banks and local police. In Czechia alone, the gang amassed approximately €8 million ($8.7 million) through these deceptive calls, described by Czech police as “one of the most extensive series of frauds committed through fake bankers”.
A joint investigation led to the arrest of four suspects in Czechia and six in Ukraine, who were later extradited to face charges. The suspects, ranging from 18 to 29 years old, recruited by two leaders, one Ukrainian and one Czech citizen, may face up to 12 years in prison if proven guilty of these sophisticated financial crimes.
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