Financial Crime World

Title: Dominican Republic Police Disrupt $200 Million Cybercrime Network: 70 Suspects Arrested

Overview

  • Authorities in the Dominican Republic dismantled a transnational cybercrime network that defrauded US citizens of over $200 million.
  • 70 suspects were arrested during raids in Santiago, Santo Domingo, La Vega, and Puerto Plata.
  • Seizures included $400,000 in cash, luxury vehicles, electronic equipment, and firearms.

Criminal Network’s Operations

  1. Targeted various schemes to extort money from victims including caller-ID spoofing and posing as authorities.
  2. Extortion payments were demanded, threatening to kidnap family members.
  3. Targeted individuals with prescriptions for controlled drugs, posing as FBI agents demanding payments to avoid prosecution.

Trafficking Illegal Firearms and International Collaboration

  • The Dominican Republic cybercrime network collaborated with a local gang called Trinitarios to traffic illegal firearms.
  • US authorities in New York executed simultaneous raids but details on findings have not been released.

Cybercrime Surpasses Drug Trafficking in Dominican Republic

  • The Dominican Republic has seen a significant increase in cybercrime since the COVID-19 pandemic began.
  • Cybercrime surpassed drug trafficking in profitability as international drug shipments became more difficult.

President Abinader’s Efforts against Corruption and Organized Crime

  • President Abinader has made combatting corruption and organized crime a priority since taking office in August 2020.

Caribbean Region’s Cybercrime Concerns

  1. Multiple countries, including Guyana, Trinidad and Tobago, Barbados, and Antigua and Barbuda, have reported an increase in cyber schemes targeting victims online.
  2. Guyana imposed fines of up to $5 million on cybercriminals, while Barbados assured journalists they actively identify and report financial and cybercrimes.
  3. Cybercrime was listed as the third-largest security concern during a Caricom security ministers meeting, behind the situation in Haiti and trafficking and human smuggling.

References

This article was compiled from news sources including the Associated Press and the Dominican Republic’s Attorney General’s office.