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Nearly 300 people, mostly young people, were involved in an international financial scheme.
Ukrainian and Latvian law enforcement officers have uncovered an international financial fraud ring that caused losses exceeding €1.6 million. The operation was conducted under the procedural guidance of the Office of the Prosecutor General and involved investigators from the National Police of Ukraine and the State Police of Latvia.
The National Police provided details of the scheme. According to investigators, the network's participants used a "refund fraud" scheme—illegally returning funds on online platforms by providing false information or abusing the return procedure for goods and services.
The proceeds were then disguised through complex financial transactions and cryptocurrency platforms. To cover the transactions, the criminals recruited hundreds of "molds"—people who provided their accounts for the funds to be used.
The investigation identified approximately 300 people involved in the scheme, the vast majority of whom were young people aged 18 to 20, recruited through social media. Searches were conducted in Ukraine, and computer equipment, mobile devices, and storage media containing data on the financial schemes and encrypted communications of the participants were seized. Persons suspected of involvement have already been detained in Latvia.
A pre-trial investigation in Ukraine continues into fraud and money laundering committed by an organized group on a large scale. Cooperation with Latvian colleagues continues to bring all those involved to justice.
Law enforcement officials urge citizens not to share bank cards and details with strangers, avoid offers of "easy money," and report attempts to recruit people into such schemes.
Ukrainian and Latvian law enforcement officers have uncovered an international financial fraud ring that caused losses exceeding €1.6 million. The operation was conducted under the procedural guidance of the Office of the Prosecutor General and involved investigators from the National Police of Ukraine and the State Police of Latvia.
The National Police provided details of the scheme. According to investigators, the network's participants used a "refund fraud" scheme—illegally returning funds on online platforms by providing false information or abusing the return procedure for goods and services.
The proceeds were then disguised through complex financial transactions and cryptocurrency platforms. To cover the transactions, the criminals recruited hundreds of "molds"—people who provided their accounts for the funds to be used.
The investigation identified approximately 300 people involved in the scheme, the vast majority of whom were young people aged 18 to 20, recruited through social media. Searches were conducted in Ukraine, and computer equipment, mobile devices, and storage media containing data on the financial schemes and encrypted communications of the participants were seized. Persons suspected of involvement have already been detained in Latvia.
A pre-trial investigation in Ukraine continues into fraud and money laundering committed by an organized group on a large scale. Cooperation with Latvian colleagues continues to bring all those involved to justice.
Law enforcement officials urge citizens not to share bank cards and details with strangers, avoid offers of "easy money," and report attempts to recruit people into such schemes.