Financial Crime World

Czech Police Arrest Ten Foreigners for Internet Fraud and Money Laundering, CZK 1.5 Million Involved

Prague: ten foreigners in custody for money laundering and internet fraud

According to the Prague police, ten foreigners, suspected to be students residing in the Czech capital, have been taken into custody on charges of money laundering and internet fraud. The accused individuals are believed to have defrauded approximately CZK 1.5 million from twelve women (names withheld), who had been deceived into sending money for the fraudsters’ travel expenses.

  • Money laundering and internet fraud: The ten individuals are currently in custody, facing possible prison sentences ranging from two to eight years if convicted.

Alleged Scheme: Defrauding Women under False Pretenses

Jan Rybanský, spokesperson for the Prague police, disclosed that the women had sent the funds to help cover the travel expenses of a fraudster they believed was a doctor on a UN mission. The accused suspects either spent the money or transferred it abroad, complicating authorities’ efforts to trace the origins of the funds.

Investigation Background and Scope

Scams exploiting social media and targeted women

The investigation into this case began in October 2022 when the Financial Analytical Office reported suspected criminal activities to the authorities. The accused individuals had attempted to conceal their ill-gotten gains by transferring the fraudulently obtained funds into their bank accounts.

Social media platforms and psychological pressure

Rybanský warned that similar scams were not exclusive to the Czech Republic. Scammers often misrepresent themselves on social media, targeting women who discuss being divorced or single. Assuming various personas, such as soldiers, oil platform workers, or doctors on UN missions, they apply psychological pressure to lure victims into sending money for meetings.

South Moravian police apprehend Czech woman for money laundering

In a related case of internet fraud and money laundering, South Moravian police, in partnership with customs officers, apprehended a Czech woman suspected of laundering money for an Austrian-based internet scam gang. The total amount reaped from the fraudulent activities exceeded 11 million crowns and targeted numerous victims since 2020.

According to Pavel Sváb, spokesperson for South Moravian police, the ringleader and other members of the scam were detained in Austria during January 2023. Austrian legal proceedings were initiated against them.