Lost in all the puffballs and scaremongering about the internet and social media are some chilling true stories. Here’s a big one from Interpol:

LYON, France – A global police operation spanning 61 countries has delivered a financial blow to online scam networks by freezing 6,745 bank accounts, seizing assets totaling USD 257 million, and disrupting the transnational organized crime networks involved.

Targeting phishing, investment fraud, fake online shopping sites, romance and impersonation scams, Operation First Light 2024 led to the arrest of 3,950 suspects and identified 14,643 other possible suspects in all continents.

“USD 257 million seized in global police crackdown against online scams,” Interpol, June 27, 2024

Some details of the release illustrate the intimate reach of international online crime as well as its broad scope: “Notable achievements from the operation include the dismantling of a sophisticated international scam network in the Namibian capital. In this operation, 88 local youths, who were forced into conducting scams, were rescued. Authorities seized 163 computers and 350 mobile phones, and the data they contained handed over to INTERPOL General Secretariat headquarters for analysis.”

It’s worth noting that the international police operation, Operation First Light, is one of the First Light initiatives funded by China’s Ministry of Public Security since 2014, according to Interpol. More on that later.

At Gizmodo, Matt Novak looks at the American toll:

News of the arrests, first reported by The Record, comes as authorities in the U.S. warn about a huge uptick in online scams, with over $10 billion lost by consumers last year alone. And fraud isn’t just achieved through electronic payments like crypto.

Matt Novak, “Interpol Arrests Thousands in Crackdown on International Online Scams,” Gizmodo, June 28, 2024

Ways we might get scammed

Phishing

According to internet marketing company TechTarget, “an attacker masquerades as a reputable entity or person in an email or other form of communication. Attackers commonly use phishing emails to distribute malicious links or attachments that can extract login credentials, account numbers and other personal information from victims.”

We are warned, “it’s far easier to trick someone into clicking on a malicious link in a seemingly legitimate phishing email than it is to break through a computer’s defenses.”

We are especially warned,

Although many phishing emails are poorly written and clearly fake, cybercriminals are using artificial intelligence (AI) tools such as chatbots to make phishing attacks look more real.

Other phishing attempts can be made via phone, where the attacker poses as an employee phishing for personal information. These messages can use an AI-generated voice of the victim’s manager or other authority for the attacker to further deceive the victim.

TechTarget, “Phishing”

According to computer security site Comparitech, in 2021, “As many as 79 percent of US organizations experienced a successful phishing attack. The phishers re not getting dumber either.

Investment fraud

Digital security agency Aura offers information on 22 different types of online investment scams, including some that are not obvious.

Prime banks are well-known entities that earn high-security ratings and have access to advanced financial instruments. Fraudsters will create false prime bank programs or pose as central bank representatives to deceive unsuspecting investors in bank scams…

In November 2021, the federal courts charged Peter Baker and Elizabeth Oharriz for orchestrating a prime bank investment scam. The pair created fictitious prime bank instruments to lure investors and steal $2.2 million before the SEC apprehended the schemers.

Alina Benny, “Investment Fraud,” Aura

It’s easier than it ever used to be to fake up all kinds of official or leading company documentation. Safer investors most likely work directly with institutions where credentials are easier to check in a number of ways, including personal visits.

Fake online shopping sites

At Malware Tips, Stelian Pelici notes that these days, even big name retailers like Walmart, Target, and IKEA can be faked up online. Apart from providing shoddy goods or none, these fake retail store scammers, which operate mainly out of China, may also use the names, addresses, phone numbers and credit card details they harvest for later identity theft.

Among the many tips for how to avoid the scamshop, note, “No customer service phone, email or physical address provided.” At least not yet, usually…

Safer shoppers shop local or otherwise very carefully.

Romance and impersonation scams

This stuff has got to be worth a couple of stories all by itself… and we’ll get there. Meanwhile, the Federal Trade Commission — talk about lack of romance! — offers an exposé of the social media scammers’ favorite lines, including their One Big Rule,

These scammers pay close attention to the information you share, and don’t miss a beat becoming your perfect match. You like a thing, so that’s their thing, too. You’re looking to settle down. They’re ready too. But there is one exception – you want to meet in real life, and they can’t. Reports show their excuse is often baked right into their fake identity. Claiming to be on a faraway military base is the most popular excuse, but “offshore oil rig worker” is another common (and fake) occupation. In short, there’s no end to the lies romance scammers will tell to get your money.

Emma Fletcher, “Romance Scammers Favorite Lies Exposed,” FTC, February 9, 2023

The romance scammer is the perfect hologram, built up from what the victim said on social media. Absolutely everything but real. More soon.