Finally, nearly 20 suspects have been arrested throughout the U.S., Hungary, Bulgaria, Germany, and Israel to answer for their allegedly committed online-scam-crimes occurring since 2010.
The Consumerist reports that law enforcement was reportedly able to able to return to the victims — or stop mid-transaction — $56 million in funds, but the people indicted were responsible for $13 million in fraudulent payments from over 170 victims.
The portfolio of scams they’re accused of running is divers and includes:
Fake vehicle scams. The perpetrators of this scam allegedly listed imaginary vehicles for sale, getting prospective buyers through the whole sale process and, of course disappearing after withdrawing money sent through a wire transfer from their accounts.
Business Email Compromise scams. We’ve also referred to this as the CEO scam or boss scam. Someone impersonating the boss over email asks a midlevel employee to initiate a wire transfer that is not to an actual vendor of the company. The fake boss might emphasize the secrecy of the transaction to discourage the targeted employee from checking with anyone else before sending the cash.
Money Laundering. Ill-gotten money has to be made legitimate, and people who are part of this alleged conspiracy have been accused of using an informal money-transfer (hawala) system to move cash around, and also engaging in other money laundering activity.