Dominican Republic: Authorities Dismantle $200 Million Cybercrime Ring, Arrest Over 70 Suspects

In a major crackdown on financial crime operations in the Caribbean, Dominican authorities have dismantled a transnational cybercrime network believed to have defrauded hundreds of US citizens out of more than $200 million. The operation, dubbed “Operation Discovery”, saw hundreds of law enforcement officials conduct raids across four regions, resulting in the arrest of over 70 individuals suspected of working for the criminal ring.

The Scope of the Operation

• The group allegedly used various identity theft schemes to extract money from victims, including:
  • Caller-ID spoofing services
  • Targeting individuals with prescriptions for controlled drugs
• They also trafficked illegal firearms and laundered their extortion proceeds using:
  • Cryptocurrencies
  • Remittance companies
  • Fraudulent money transfers

The Investigation

According to authorities, the network moved around $250 million through its illegal activities. The operation was carried out in conjunction with US agents from the Federal Bureau of Investigation (FBI), who conducted simultaneous raids in New York City.

The Growing Threat of Cybercrime in the Caribbean

Cybercrime in the Dominican Republic has increased significantly since the start of the COVID-19 pandemic, with authorities reporting a surge in cases of economic and sexual extortion. The country’s Attorney General’s Office has emphasized its commitment to combating cybercrime, which it views as a major challenge in the fight against organized crime.

Regional Efforts to Combat Cybercrime

The Caribbean region is also grappling with a worrying trend of growth in cybercrime, with numerous Ponzi and pyramid schemes reported in several countries since the start of the pandemic. In response, some governments have introduced legislation to combat these types of fraud, while others are working to identify and report financial and cybercrimes.

Conclusion

The recent operation highlights the need for continued cooperation between law enforcement agencies in the region to tackle the growing threat of cybercrime. The dismantling of this major cybercrime ring serves as a reminder of the importance of international collaboration and the need for robust laws and regulations to combat these types of crimes.