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yellow.com
· 2026-09-12
Cryptocurrency scams stole an estimated $17 billion globally in 2025, with U.S. losses reaching $9.3 billion according to the FBI—a 66% year-over-year increase—as criminal operations professionalized with industrialized phishing kits, AI-deepfakes, and money laundering networks. The average scam payment surged 253% to $2,764, with seniors aged 60+ losing $2.8 billion at an average of $83,000 per victim, four times higher than other internet crime categories. The article identifies seven specific scam types including rug pulls, phishing, and investment fraud, noting that scammers have low
citizen.digital
· 2026-09-12
Six Nigerian men affiliated with Black Axe, a transnational cybercrime network, were extradited to the US from South Africa to face wire fraud and money laundering charges totaling approximately Ksh.700 million (~$5.4 million). The men allegedly targeted pensioners and businesspeople through sophisticated romance scams and advance-fee fraud schemes operated from Cape Town between 2011 and 2021, using false identities on social media and dating websites to deceive victims into sending money. The suspects face maximum sentences of 20 years on each charge and used bank accounts and business entities to launder the fraudulent proceeds.
insidepolitic.co.za
· 2026-09-12
Six Nigerian nationals were extradited from South Africa to the United States to face wire fraud and money laundering charges for allegedly defrauding over 100 women of more than R100 million through online romance scams. The men, linked to Black Axe, a Nigerian organized crime network, allegedly operated from Cape Town between 2011 and 2021, using false identities on social media and dating websites to establish relationships with victims—including pensioners and businesspeople—before persuading them to send money or valuables under false pretenses such as travel emergencies.
africa.businessinsider.com
· 2026-09-12
Six Nigerian nationals were extradited from South Africa to the United States to face charges in connection with a romance scam that defrauded over 100 American women of more than $6.2 million between 2011 and 2021. The defendants operated from Cape Town using fake identities on social media and dating websites, claiming to need emergency money for construction accidents, taxes, and legal issues, while victims sent money, phones, computers, and valuables. The men, allegedly members of the Black Axe criminal organization, face charges including wire fraud, money laundering, and identity theft.
okayafrica.com
· 2026-09-12
Six Nigerian nationals linked to the Black Axe criminal network were extradited to the U.S. to face wire fraud and money laundering charges for an online romance scam that defrauded over 100 American women of more than $6 million. The victims included pensioners and businesspeople who were targeted through elaborate fake online relationships. In response to violence against Nigerian migrants in South Africa, Nigeria's parliament indefinitely suspended official visits to the country.
telegraphherald.com
· 2026-09-12
Six Nigerian nationals were extradited to the United States on Friday to face wire fraud and money laundering charges after being arrested in Cape Town in 2021 for their involvement in an organized romance scam network. The men allegedly swindled American women out of over $6 million through online dating fraud schemes. They were handed over to FBI officials for prosecution in the U.S.
punchng.com
· 2026-09-12
Six Nigerians linked to the Black Axe criminal network were extradited from South Africa to the United States to face wire fraud and money-laundering charges for operating romance scams that defrauded over 100 American women of more than $6 million. The suspects, arrested in Cape Town in 2021, allegedly targeted victims including pensioners and businesspeople through sophisticated fake online relationships and cryptocurrency fraud. They are now in FBI custody to face prosecution in the US.
hoodline.com
· 2026-09-12
A 37-year-old Indian student visa holder was sentenced to 30 months in federal prison for acting as a courier in a gold fraud scheme targeting elderly Americans, including a Delaware County, Oklahoma veteran who lost nearly $100,000 after being tricked by fake Microsoft support and federal officer impersonators into converting cash to gold. Venkateswara Chagamreddy was arrested during an undercover sting after collecting gold from multiple victims across three states within 48 hours, with evidence showing he received real-time instructions and victim photos from co-conspirators. The case reflects a national surge in elder fraud, with gold courier scams alone causing $311.8 million in losses across approximately
crowdfundinsider.com
· 2026-09-12
The US Department of Justice credited Tether for helping disrupt Xinbi Guarantee, a Chinese-language cryptocurrency marketplace that allegedly facilitated fraud and money laundering, resulting in $52 million in frozen digital assets. Xinbi operated primarily on Telegram and connected scam operators with vendors providing money-laundering services, fake investment websites, and recruitment for overseas scam compounds, often involving "pig-butchering" romance and investment fraud schemes targeting US victims. Tether's ability to freeze tokens at the contract level enabled rapid action once investigators identified the wallets involved in the operation.
townpress.co.za
· 2026-09-11
Six Nigerian nationals arrested in Cape Town in 2021 are being extradited to the United States to face charges for an online romance scam that defrauded over 100 American women of more than $6 million. The men allegedly used elaborate fake online relationships to persuade victims, including pensioners and businesspeople, to transfer money as part of an organized criminal network linked to Black Axe. They face wire fraud and money laundering charges in US federal court.
saharareporters.com
· 2026-09-11
Six Nigerian nationals alleged to be members of the Black Axe criminal network were extradited from South Africa to the United States to face wire fraud and money laundering charges. The suspects targeted over 100 women in the US through online romance scams, defrauding them of more than R100 million, with victims including pensioners and businesspeople. The men were arrested in South Africa in 2021 and handed over to FBI and US Secret Service officials following coordination with INTERPOL South Africa.
arise.tv
· 2026-09-11
Six Nigerian nationals arrested in South Africa in 2021 are being extradited to the United States for operating a romance scam that defrauded over 100 women of more than R100 million (approximately $5.4-6.7 million USD). The suspects, alleged members of the Black Axe network, face charges of wire fraud and money laundering and were handed over to FBI and US Secret Service officials for transport to the US.
ntvkenya.co.ke
· 2026-09-11
Six Nigerian members of the Black Axe organized crime network were extradited from South Africa to the United States to face charges including wire fraud and money laundering related to romance scams. The men allegedly defrauded more than 100 women in the US, including pensioners and businesspeople, of over 100 million rand ($6.2 million) through online romance schemes. The suspects were arrested in South Africa in 2021 and handed over to US FBI and Secret Service officials.
thecable.ng
· 2026-09-11
Six Nigerian nationals, alleged members of the Black Axe criminal network, have been extradited from South Africa to the United States to face wire fraud and money laundering charges related to a romance scam that defrauded over 100 women of approximately R100 million (roughly $5.4 million USD). The suspects were arrested in South Africa in 2021 and handed over to FBI and US Secret Service officials for prosecution in the United States.
persecondnews.com
· 2026-09-11
Six Nigerian nationals were extradited from South Africa to the United States for orchestrating romance scams that defrauded over 100 American women of approximately R100 million. The suspects, linked to the Black Axe network, used fake online relationships to drain victims' savings and face charges of wire fraud and money laundering. The men were arrested in South Africa in 2021 and extradited after years in custody through collaboration between South African law enforcement, INTERPOL, the FBI, and US Secret Service.
chronicle.ng
· 2026-09-11
Six Nigerian members of the Black Ax criminal network were extradited from South Africa to the United States to face wire fraud and money laundering charges for operating online romance scams targeting over 100 women. The suspects allegedly defrauded their victims of more than R100 million (approximately $5.4 million USD) through fake romantic relationships. The extradition, facilitated by South African Hawks and INTERPOL, was handed off to FBI and US Secret Service officials at Cape Town International Airport.
apanews.net
· 2026-09-11
Six Nigerian nationals accused of orchestrating an international romance scam targeting over 100 women in the United States are being extradited from South Africa to face US charges of wire fraud and money laundering. The suspects allegedly defrauded victims of more than R100 million (approximately $5.4 million) by building trust through fake online relationships before manipulating them into sending money under false pretenses. The men were arrested in South Africa in 2021 and are linked to organized crime group "Black Axe."
thenicheng.com
· 2026-09-11
Six Nigerian nationals were extradited from South Africa to the United States to face wire fraud and money laundering charges for allegedly defrauding more than 100 women through online romance scams, stealing over R100 million (approximately $5.4 million USD). The suspects, arrested in South Africa in 2021 and allegedly affiliated with the Black Axe organized crime network, were handed over to FBI and US Secret Service officials at Cape Town International Airport. The extradition represents a coordinated effort between South African law enforcement and international partners to combat transnational organized crime.
graphic.com.gh
· 2026-09-11
Six Nigerian members of the Black Axe crime syndicate are being extradited from South Africa to the US to face wire fraud and money-laundering charges for orchestrating romance scams that targeted over 100 American women and defrauded them of more than $6 million. The group, arrested in 2021, used sophisticated online relationships to con victims including pensioners and businesspeople out of their money. Black Axe is a Nigerian mafia-style organization operating globally and known for human trafficking, internet fraud, and violence.
guardian.ng
· 2026-09-11
Six Nigerian men were extradited from South Africa to the United States to face prosecution for an alleged romance scam that defrauded over 100 women of more than $5 million through fake online relationships. The suspects, arrested in South Africa in 2021, targeted pensioners and businesspeople, and are also accused of wire fraud, money laundering, and membership in the Black Axe criminal network. The extradition was coordinated by South African authorities, Interpol, the FBI, and US Secret Service.
the-star.co.ke
· 2026-09-11
Six Nigerians accused of romance scams targeting over 100 women in the US, defrauding them of more than $6 million, are being extradited from South Africa to face wire fraud and money-laundering charges. The suspects, arrested in 2021 and believed to be members of the Black Axe crime syndicate, used sophisticated online relationships to defraud victims including pensioners and businesspeople. They will be handed over to FBI and US Secret Service officials for prosecution in the United States.
taylorvilledailynews.com
· 2026-09-11
Six Nigerian nationals arrested in Cape Town in 2021 are being extradited to the United States to face wire fraud and money laundering charges for operating romance scams that defrauded over 100 American women of more than $6 million. The men, affiliated with the Black Axe criminal network, targeted pensioners and businesspeople through sophisticated online relationships. Their extradition follows broader Interpol operations against West African organized crime groups involved in cyber-enabled financial fraud.
cnn.com
· 2026-09-11
Six Nigerian nationals arrested in Cape Town in 2021 are being extradited to the US to face wire fraud and money laundering charges for their involvement in romance scams that defrauded over 100 American women of more than $6 million. The men are allegedly part of the Black Axe criminal network, which is known for cyber-enabled financial fraud targeting victims through fake online relationships. Among the victims were pensioners and businesspeople who were deceived through sophisticated online schemes.
enca.com
· 2026-09-11
A group of Nigerian nationals accused of operating a sophisticated romance-scam network from South Africa are being extradited to the United States to face charges including wire and mail fraud, money laundering, and identity theft. The scammers posed as romantic partners to build relationships with victims online, then solicited money, laptops, phones, and other valuables by fabricating emergencies such as muggings, construction accidents, or legal fees, with the operation allegedly linked to the Nigerian organized-crime group "Black Axe." After arrests in South Africa in 2021 and years of legal battles, South African courts approved the extradition in 2024, with the suspects being handed over to US authorities on Friday.
stgeorgeutah.com
· 2026-09-10
Since 2020, Utahns have lost nearly $450 million to scams and financial crimes, with losses reaching $108.4 million in 2025 alone. Utah Attorney General Derek Brown launched the Utah Financial Crimes Intelligence Center, a statewide team of investigators, prosecutors, and financial analysts designed to identify fraud patterns, connect related cases, and investigate crimes spanning multiple jurisdictions. The center will coordinate investigations involving identity theft, romance scams, elder fraud, cryptocurrency schemes, and other financial crimes while providing training and resources to law enforcement and financial institutions.
vietnam.vn
· 2026-09-10
Vietnamese workers seeking high-paying jobs in Sri Lanka through social media recruitment were lured into transnational scam rings, where they were forced to make fraudulent phone calls back to Vietnam to defraud other Vietnamese citizens. The scam involved fake job postings offering salaries around $2,000 monthly, with workers brought on tourist visas and held in locked facilities by organized crime groups. Criminal networks specifically targeted university graduates fluent in foreign languages with IT and cryptocurrency skills to facilitate fraud and money laundering operations.
thepaypers.com
· 2026-09-10
Romance-investment scam networks operating from Southeast Asia are rapidly dispersing to Sri Lanka, the Middle East, and West Africa when enforcement pressure increases, as seen after Cambodia's 2026 crackdown that closed 190 suspected centers but left criminal infrastructure intact. Banks must shift from country-based risk assessments to network-focused monitoring, as scam operations function as modular supply chains with replaceable components including fake trading platforms, payment accounts, and money mules that can quickly relocate across jurisdictions. Financial institutions need international coordination to disrupt these portable criminal networks rather than simply detecting isolated suspicious transactions or applying blanket country risk labels.
coingeek.com
· 2026-09-10
U.S. Bancorp launched its dollar-backed stablecoin (USBDC) on the Stellar network following a successful pilot cross-border payment transaction between North America and Europe, positioning it for institutional use cases in treasury operations and asset tokenization. Meanwhile, Circle acquired Singapore-based B2B payments firm Tazapay for $400 million in an all-stock deal to expand stablecoin payment infrastructure across Asia, where Tazapay already processes over $25 billion in annualized payment volume with approximately 60% involving stablecoins.
gulfnews.com
· 2026-09-10
US authorities are escalating efforts to combat scam operations based in Southeast Asia that steal billions of dollars annually from Americans, with the Treasury Department sanctioning Xinbi Guarantee, a Chinese-language financial platform that facilitated money laundering and cryptocurrency scams. American losses to Southeast Asia-based scams totaled at least $10 billion in 2024, with schemes including "pig-butchering" romance and investment frauds operated from Cambodia, Myanmar, and Laos through transnational criminal networks. The crackdown involves coordinated Treasury sanctions, Justice Department infrastructure seizures, and a multi-agency Scam Centre Strike Force targeting criminal leaders, recruitment networks, and the financial infrastructure enabling these operations.
en.sedaily.com
· 2026-09-10
Thai police arrested 12 South Koreans and one Chinese national operating a voice phishing call center in a luxury home near Bangkok, where they impersonated prosecutors and government officials to defraud South Korean victims by falsely claiming they were under criminal investigation and demanding money transfers. Investigators seized call center equipment with 13 VoIP-equipped workstations, computers, mobile phones, call scripts, and lists of personal information on South Korean victims along with forged official documents. This operation is part of a broader organized crime problem in Thailand, where approximately 40 members of voice phishing rings from South Korea and China have been arrested since 2015, with one recent case involving $790,000 in laun
msspalert.com
· 2026-09-10
Apate.ai, a scam detection platform, partnered with telecommunications analytics vendor Mobileum to deploy AI-powered scam detection and disruption services globally to communication service providers. The partnership leverages Apate.ai's AI agents that engage directly with scammers across voice, messaging, and email channels to gather operational intelligence on mule accounts, crypto wallets, and impersonated brands for proactive fraud detection. Apate.ai secured $8.15 million in seed funding to support platform development and international expansion as part of this initiative to combat increasingly sophisticated scams.
straitstimes.com
· 2026-09-10
Police in Singapore arrested 254 people (151 men and 103 women) suspected of involvement in over 652 scams as scammers or money mules, with victims losing approximately $7.5 million. The scams included e-commerce fraud, phishing, job scams, government impersonation, investment scams, and lucky draw schemes, with suspects ranging in age from 15 to 79 years old. Those convicted face penalties including up to 10 years imprisonment for cheating, mandatory caning, and fines up to $500,000 for money laundering offenses.
altcoinbuzz.io
· 2026-09-10
The U.S. Department of Justice restrained $52.8 million in cryptocurrency linked to Xinbi Guarantee, a Chinese-language illicit marketplace that facilitated scams, money laundering, and fraud operations generating at least $24 billion in transactions since 2022. The action included seizure of Xinbi's Telegram infrastructure, Treasury sanctions designating it as a transnational criminal organization, and freezing of 52 cryptocurrency wallets used by the marketplace and its vendors. Xinbi reportedly responded by converting approximately $2.8 million into USDD stablecoin to avoid centralized asset freezes, highlighting how blockchain analytics enabled authorities to target the financial infrastructure supporting industrialized online
vietnam.vn
· 2026-09-09
Vietnamese police dismantled an organized online lending fraud ring operating across multiple provinces that defrauded hundreds of victims nationwide of over 4 billion VND (approximately $157,000 USD). The scammers created fake Facebook pages impersonating financial company employees, luring borrowers with attractive loan offers and then requesting upfront processing fees of 1-2% followed by additional fraudulent charges for supposed verification or taxes before disappearing. The eight arrested members used encrypted communication apps, fake SIM cards, and multiple bank accounts to conceal their identities and launder stolen money.
vinnews.com
· 2026-09-09
Federal authorities shut down Xinbi Guarantee, a Chinese-language Telegram marketplace with over 650,000 users that sold tools and services to support "pig butchering" cryptocurrency fraud schemes, money laundering, and human trafficking operations targeting Americans. The enforcement action froze more than $52 million in cryptocurrency across multiple wallets and resulted in coordinated international operations that dismantled 13 scam compounds in Madagascar, arrested nearly 400 people, and seized over 3,200 devices. Americans lost $8.65 billion to cryptocurrency investment scams in 2025, with many operations relying on trafficked workers held in Southeast Asian compounds forced to run romance and investment cons.
crowdfundinsider.com
· 2026-09-09
The US and UK signed a landmark memorandum of understanding on September 3, 2026, to jointly combat industrial-scale cryptocurrency fraud, particularly "pig-butchering" romance and investment scams operated from compounds in Southeast Asia. These scams cost Americans approximately $10 billion annually, with reported cryptocurrency fraud losses to the FBI jumping 89 percent from $4.57 billion in 2023 to $8.65 billion in 2025. The coordinated effort will involve parallel investigations, shared intelligence on syndicate operations, and joint disruption activities targeting the criminal networks often tied to Chinese organized crime and forced labor trafficking.
odaily.news
· 2026-09-09
Southeast Asian criminal organizations use cryptocurrency, primarily USDT, as the central payment method for an industrialized fraud and trafficking network that includes "pig butchering" scams, human trafficking, online gambling, and money laundering. The operation functions as an assembly line with specialized service providers handling recruitment, target identification through illegally obtained personal data, website construction, social engineering, and cash-out services, with cryptocurrency guarantee platforms acting as intermediaries. Telegram groups openly facilitate transactions including the buying and selling of trafficked people (priced in thousands to tens of thousands of USDT) and the sale of illegally obtained personal information obtained from corrupted insiders in government and financial institutions.
cigaraficionado.com
· 2026-09-09
Chen Zhi, a Chinese billionaire and owner of 50% of Habanos S.A. (the worldwide distributor of Cuban cigars), was indicted by the U.S. Department of Justice in October 2025 for operating "pig butchering" scam compounds across Cambodia that stole billions of dollars through wire fraud and money laundering schemes involving forced labor and human trafficking. Following U.S. and EU sanctions against Zhi and his Prince Holding Group, the official Cuban cigar distributor for Germany, Austria, and Poland halted all shipments to retailers in those regions, disrupting supply in markets already facing global shortages. Zhi, now imprisoned in China and facing
legalreader.com
· 2026-09-09
A Nigerian man, Oluwasegun Baiyewu, was sentenced to 95 months in federal prison for laundering over $3.1 million obtained through fraud schemes targeting U.S. people and businesses, including romance scams, unemployment insurance fraud, and business email compromises. Between May 2020 and October 2021, Baiyewu worked with at least six others to convert stolen funds into used vehicles that were exported to Nigeria, with one notable transaction involving a Puerto Rican renewable energy company losing $280,000 through a business email compromise scam. The group used encrypted messaging services to coordinate the movement of fraud proceeds and coordinate purchases made with the stolen money.
nbcnews.com
· 2026-09-09
A 22-year-old Singapore-born man pleaded guilty to orchestrating a $245 million bitcoin theft from a Washington, D.C. resident in August 2024, using social engineering tactics to trick the victim into revealing security credentials. Malone Lam led a network of young scammers and laundered the stolen cryptocurrency into luxury purchases including sports cars, mansions, and nightclub spending before his arrest in Miami. He faces up to 20 years in prison and is the 11th of 18 defendants to plead guilty in what prosecutors describe as one of the largest cryptocurrency thefts in U.S. history.
channelnewsasia.com
· 2026-09-09
Singapore's parliament passed the Scams (Countermeasures) and Other Matters Bill, granting the Singapore Police Force new powers to order banks and telecommunications companies to disclose scam-related information and disable suspect accounts for up to 60 days. The law also increases maximum penalties for online service providers' non-compliance with codes of practice from S$1 million to S$10 million per instance. MPs expressed support for the anti-scam measures while raising concerns about protecting innocent account holders from wrongful suspension and ensuring adequate checks and balances against potential law abuse.
straitstimes.com
· 2026-09-09
Singapore passed new anti-scam legislation on September 9, 2026, making it illegal to provide personal details for creating online accounts or to supply accounts on platforms like Carousell, TikTok, Telegram, and Meta to criminals, with convicted online account mules facing up to three years imprisonment, fines up to $10,000, and potential caning. The law also significantly increased penalties for non-compliant online service providers, raising maximum fines from $1 million to $10 million, as scam victims in Singapore lost $410.6 million in the first half of 2026 alone.
therecord.media
· 2026-09-09
The U.S. government disrupted Xinbi Guarantee, a Chinese-language Telegram marketplace that processed at least $24 billion in illicit transactions facilitating cyber scams, money laundering, and human trafficking. The Treasury Department sanctioned the platform and two supporting businesses while seizing $52.8 million from 52 wallets connected to the marketplace, which offered crime-as-a-service vendors tools ranging from stolen data to deepfake technology. The action represents a major blow to Southeast Asian cybercriminal networks, though authorities expect the platform may attempt to rebuild on alternative blockchain systems.
finance.biggo.com
· 2026-09-09
Tether froze approximately $39.3 million in USDT across 10 Tron addresses linked to Xinbi Guarantee, a Chinese-language escrow platform that has processed billions in transactions tied to pig-butchering scams and stolen funds, on September 8. The action mirrors Tether's previous enforcement against similar illicit platforms like Huione Guarantee and comes as regulatory pressure intensifies, including a UK asset freeze imposed on Xinbi in March. Despite these enforcement efforts, Xinbi has demonstrated resilience, processing an estimated $17.9 billion in total volume since its launch, making the frozen funds represent less than one percent of its transaction history.
thehackernews.com
· 2026-09-09
The U.S. Department of Justice disrupted Xinbi Guarantee, an illicit Telegram-based marketplace that facilitated "pig butchering" romance scams and fraud services run by Chinese organized crime syndicates, freezing $52.8 million in cryptocurrency across 52 wallets. The Scam Center Strike Force deployed to Madagascar and dismantled 13 scam compounds, bringing the total amount of cryptocurrency restrained to approximately $938 million since the task force's inception. Xinbi, which has processed approximately $30 billion in illicit transactions since its inception around 2022, served as an intermediary for scammers to purchase services including fake investment websites, money laun
decrypt.co
· 2026-09-09
The U.S. Secret Service froze $52.8 million in cryptocurrency associated with Xinbi Guarantee, a Chinese-language Telegram marketplace that facilitates global scams by providing tools and escrow services for criminals. Since 2022, Xinbi has processed at least $24 billion in illicit transactions, including funds from "pig butchering" romance scams and money laundering operations, making it the second-largest criminal marketplace ever tracked. The Treasury designated Xinbi as a transnational criminal organization on September 9, 2026, with $12 million of the frozen funds seized outright by the Department of Justice.
consumerfinancialserviceslawmonitor.com
· 2026-09-09
On September 3, FinCEN published an analysis of digital asset investment scams ("pig butchering" schemes) covering September 2023 through December 2025, identifying approximately $12.7 billion in suspected fraudulent financial activity across 33,904 BSA reports, with reporting volume growing at an average rate of 10.9% per month. These scams typically involve fraudsters using fake personas on social media and dating platforms to build trust with victims before directing them to transfer funds to scammer-controlled accounts, often by liquidating retirement accounts or taking out loans. Victims spanned all 50 states and all age demographics, with the Financial Crimes Enforcement Network characterizing the acceler
yellow.com
· 2026-09-09
A global task force led by the FBI arrested 276 suspects and dismantled nine cryptocurrency scam operations targeting Americans, with six defendants now facing wire fraud and money laundering charges in California. The scammers used "pig-butchering" tactics, building fake relationships with victims before convincing them to invest in fraudulent cryptocurrency schemes and laundering the stolen funds through multiple wallets. The operation, conducted with authorities in Dubai, China, and Thailand, has tied millions of dollars in confirmed losses to these schemes, contributing to the record $11.3 billion in cryptocurrency fraud losses recorded in 2025.
foxbusiness.com
· 2026-09-09
Xinbi Guarantee, a Chinese-language online marketplace operating on Telegram, facilitated cryptocurrency investment scams targeting Americans by providing tools like fake investment websites and money laundering services to cybercriminals. U.S. authorities seized the platform and froze $52 million in cryptocurrency, with one Virginia resident losing $800,000 in such a scheme. The Treasury Department designated Xinbi a transnational criminal organization allegedly linked to North Korean hackers, effectively cutting it off from the U.S. financial system.
finance.yahoo.com
· 2026-09-08
Over 200 seniors were defrauded of more than $250 million in a coordinated scheme where scammers called posing as bank or federal officials, convincing victims to withdraw savings and purchase gold or cryptocurrency, which was then collected by couriers and laundered through shell companies and a Florida refinery. More than 40 people have been indicted including Muzamil Ahmed, a 35-year-old from New Jersey arrested at JFK Airport, who allegedly operated the scheme with call centers primarily based in India that targeted elderly victims across multiple states. The stolen assets were converted into cryptocurrency and smuggled overseas, with investigators seizing over $130 million and indicating additional arrests are likely.