Czech Police and Ukrainian Authorities Dismantle International Bank Fraud Ring

In a significant transnational law enforcement operation, Czech and Ukrainian authorities have dismantled a criminal gang responsible for making millions of dollars through fraudulent phone calls, primarily targeting victims in the Czech Republic.

Disrupting a Transnational Criminal Operation

The operation was announced in a joint press conference held on Thursday by the Czech National Police and the Ukrainian State Bureau of Investigation (SBI). According to the joint statement, the members of the group ran call centers in Ukraine, orchestrating elaborate schemes using a technique known as “vishing,” a combination of voice and phishing attacks.

The Vishing Technique Explained

Scammers posed as bank security officers, contacting their victims and impersonating various authorities to convince them that their accounts had been hacked. In some instances, scammers made follow-up calls, posing as police officers to confirm their stories and urgently requesting victims to transfer their funds to a “secure” account provided by the fraudsters.

To gain their victims’ trust, the scammers utilized a technique called spoofing, which enabled them to display phone numbers seemingly belonging to banks and local authorities. With this tactic, the fraudsters effectively carried out their attacks.

Extensive Damages in the Czech Republic

Czech police reported that, in Czechia alone, the gang had generated around €8 million ($8.7 million) through such fraudulent activities. Czech officials deemed this series of scams “one of the most extensive fraud cases involving fake bankers.”

Arrests and Seizures

As a result of the coordinated investigation, which began in April 2022, Czech authorities arrested four suspects within Czechia. Six individuals were detained in Ukraine and later extradited. During the crackdown, law enforcement officials seized mobile phones, SIM cards, and computer equipment.

Leadership and Criminal Histories

Ukrainian authorities reported in September that the gang was led by two individuals - one Ukrainian and one Czech citizen. The suspects, aged from 18 to 29, had prior criminal records, including violent crime, drug offenses, and document forgery.

Legal Consequences

If proven guilty, the suspects could face up to 12 years in prison in Czechia. The international cooperation between the two law enforcement agencies is seen as a major milestone in the ongoing fight against transnational cybercrime.