Foil one of the largest banking frauds in the world

24 November, 2022
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Foil one of the largest banking frauds in the world

One of the largest scams that targeted hundreds of people in order to steal their financial accounts was thwarted by a global operation of which the British authorities were a part. The victims were targeted by callers who, through technological methods, were able to hide their numbers, and stole millions of pounds sterling.

It was coordinated with Dutch law enforcement authorities who gained access to the servers used by the callers, to secretly listen in on phone calls.

The network succeeded in defrauding the victims into believing that they had been contacted by their bank, convincing them to pass on personal details that allowed the fraudsters to steal the cash. 

4,785 people reported fraud with amounts of up to 10,000 pounds sterling, while one of the victims alone lost 3 million pounds sterling, with the total number of victims in the world reaching 200,000 victims.

Of the 10 million fraudulent calls made, 40 percent were in the United States, 35 percent in the United Kingdom, and the remainder spread to other countries.

The network's director, Tejay Fletcher, 35, was arrested in east London earlier this month and faces criminal charges.

So far, 120 people have been arrested, including 103 in London and 17 outside the capital.


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