Security News > 2022 > March > Europol dismantles massive call center investment scam operation
Europol has announced the arrest of 108 people suspected of being involved in an international call center operation that tricked victims into investment scams.
According to the Europol announcement, the crime group directed an army of 200 "Traders" who spoke English, Russian, Polish, and Hindi, calling prospective victims to present fake investment opportunities in cryptocurrency, commodities, and foreign currencies.
Another research focusing on UK consumers has estimated the financial damage of investment scams in 2020 to be €160,400,000 in the country and €426,000,000 when including e-commerce and internet fraud.
As the FBI advised last summer, people should look for certain red flags when agents present them with investment opportunities that seem very lucrative.
These red flags include promises of high investment returns, often accompanied by a guarantee of no risk, and unusual payment methods like credit cards, wire transfers, and cryptocurrencies.
In almost all investment fraud cases, the offers are unsolicited and not in response to a declaration of interest for investment.