Armenia Exposed: Massive Cyber Fraud Scheme Uncovered in Yerevan
A major international criminal group involved in investment fraud has been uncovered in Armenia by the Ministry of Internal Affairs.
The Scheme
The group, disguised as employment and software activities, established a “call center” equipped with computer equipment in office premises across Yerevan. They prepared fake websites and advertised them on social networks, promising high returns on investment and simplicity of the process. As a result, they stole large sums of money from foreign citizens by misleading them and abusing their trust.
Investigation
The cybercrime department received operational information about the transnational criminal activities at the beginning of 2023, which led to a large-scale investigation. International cooperation with European law enforcement agencies was crucial in uncovering the scheme, as it involved not only Armenian citizens but also foreigners who made phone calls and internet offers to people abroad.
Criminal Activity
The group stole cryptocurrency from foreign citizens every month for two years and then tried to legalize it through money laundering. They also established companies considered legal entities in Armenia to cover up illegal entrepreneurship.
Consequences
Material damage to the state amounts to more than 130 million drams. Despite the challenges posed by its transnational nature, the investigation continues successfully, with concrete results. Twenty people have been identified and are facing public prosecution.
Public Warning
Citizens are warned against ignoring highly profitable investment offers from abroad via the internet. If you receive such an offer, please ignore it and contact law enforcement authorities immediately.
Call to Action
The police are cooperating with European law enforcement agencies to search for affected persons and complete the investigation in Armenia. The Ministry of Internal Affairs urges anyone who joined or supported this criminal organization to voluntarily contact the Investigative Committee or the police.
Key Takeaways
- A major international criminal group involved in investment fraud has been uncovered in Armenia
- The group established a “call center” equipped with computer equipment in office premises across Yerevan
- They prepared fake websites and advertised them on social networks, promising high returns on investment
- Twenty people have been identified and are facing public prosecution
- Material damage to the state amounts to more than 130 million drams
- Citizens are warned against ignoring highly profitable investment offers from abroad via the internet