🗡 Turkey🇹🇷: 175 suspected cryptocurrency fraudsters detained in police operation

🗡 Turkey🇹🇷: 175 suspected cryptocurrency fraudsters detained in police operation

The victims of the network were mainly foreign nationals. The Justice Minister stated that the beneficiaries of the fraud network have links to Israel🇮🇱.

➡️ Statistics: the operation targeted 239 suspected individuals and 42 call centers belonging to 28 companies. During the operation, authorities conducted raids at 286 locations.

➡️ Case details: call center employees solicited money under the pretext of making investments, displaying fictitious profits and promising high returns. When an "investor" attempted to withdraw their funds, they were required to pay additional fees, allegedly to unlock the account. The funds were then transferred to foreign bank accounts and cryptocurrency wallets.

➡️ Proceeds:

🔹Over two years, the volume of transactions covering only operating expenses and salaries amounted to approximately USD 267 million;

🔹During the operation, assets worth approximately USD 31 million, 80 vehicles, 12 properties, as well as bank, cryptocurrency and corporate accounts were seized.

➡️ Participants: the Istanbul Prosecutor's Office's Anti-Money Laundering Bureau, the National Intelligence Organization (MIT), the Police Department's Anti-Crime Division, the Financial Crimes Investigation Board (MASAK), as well as Interpol.

🖋 Context: Turkish law enforcement agencies conduct investigations into fraud and regularly report the results of such operations, while also taking action against illegal gambling. In July alone, a cross-border network of 56 betting platforms with a turnover of EUR 45 billion was dismantled; its owners could face prison sentences of up to 39 years.

In November last year, during the dismantling of a criminal network operating at Istanbul's Grand Bazaar and involved in laundering proceeds from illegal betting, fraudulent schemes and currency transactions, 76 people were detained.

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