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1. Do you know the ‘CEO Fraud‘ scam? PJ detains 2 suspects of the practice
Among the crimes under investigation are document forgery, computer scams, and money laundering, carried out through a scheme known as “CEO Fraud”. This type of scam, which consists of deceiving company employees into believing they are receiving orders from executives or trusted partners, allowed the group to embezzle around 1.2 million euros.
2. Investigation ‘Moby Dick’: Mafia clans invest in €520 million VAT fraud
In an investigation led by the European Public Prosecutor’s Office (EPPO) in Milan and Palermo (Italy), code-named ‘Moby Dick’, detention orders are being executed against 43 suspects. The EPPO is probing a €520 million VAT fraud, with heavy involvement of several mafia groups. During today’s action, led by the EPPO, 160 searches are being carried out.Source
3.FinCEN Warns of Fraud Schemes That Abuse Its Name,Insignia,and
WASHINGTON—The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an alert today to raise awareness of fraud schemes abusing FinCEN’s name and insignia.
According to the PJ, “along with the documentary evidence seized in the police operation, a man was arrested for possession of a forbidden weapon, two defendants and seized 19 high-range vehicles, valued at more than two million euros, 114 watches, evaluated in more than 200 thousand euros, and over 70 thousand euros in cash, which presumed the product of crimes in investigation.”
the operation of the PJ, with the name “Fascina” was carried out, in the context of an inquiry directed by the Department of Research and Criminal Action of Lisbon (DAIP), and was attended by more than 30 inspectors and experts of the Technological Expertise Unit and Informatics and the Directorate of Financial and Patrimonial management Services of PJ.It underlines the PJ that the main suspect in criminal practices is arrested and that investigations continue. The public knows that this suspect was arrested about a month ago to serve a similar sentence as already a repeat offender in this type of crime, as it has been arrested about eight years also for qualified scam.
Exclusive Interview: Unraveling CEO Fraud and VAT Scams
1. Do you know the ‘CEO Fraud’ scam? PJ detains 2 suspects of the practice
Can you explain what ‘CEO Fraud’ is and how it typically operates?
CEO Fraud, also known as Business Email Compromise (BEC), is a elegant scam where cybercriminals impersonate high-ranking executives or trusted partners. They frequently enough send fraudulent emails to company employees, instructing them to make payments or transfer funds. This type of scam has been used to embezzle notable amounts of money, such as the €1.2 million mentioned in the recent case.
What specific crimes are being investigated in this case?
The crimes under examination include document forgery, computer scams, and money laundering. These activities are often interconnected in complex fraud schemes to cover the tracks of the illicit funds and make them harder to trace.
How did the authorities manage to detect and apprehend the suspects?
The authorities detected the fraudulent activities through vigilant monitoring and analysis of financial transactions. The suspects were apprehended following a thorough investigation that involved tracking the money trail and gathering evidence of their involvement in the scam.
2.Investigation ‘Moby Dick’: Mafia clans invest in €520 million VAT fraud
What is the scope of the ‘moby Dick’ investigation, and who are the main suspects?
The ‘Moby Dick’ investigation is focused on a large-scale VAT fraud valued at €520 million. The main suspects include members of organized crime syndicates, such as mafia clans. The investigation was conducted by the European Public Prosecutor’s Office (EPPO) in collaboration with various law enforcement agencies.
What role did the PJ (Judicial Police) play in this investigation?
The PJ played a significant role in the investigation, contributing expertise in financial and technological analysis.They collaborated with other agencies to gather evidence and identify the key suspects involved in the fraudulent activities. Their involvement was crucial in the successful apprehension of the main suspect.
What are the implications of this investigation for future fraud prevention?
The investigation highlights the importance of international cooperation and the use of advanced technological expertise in combating large-scale fraud. It also underscores the need for continuous vigilance and the sharing of intelligence among law enforcement agencies to dismantle organized crime networks involved in financial fraud.
Conclusion
The interviews with the experts reveal the intricate nature of CEO Fraud and VAT scams, emphasizing the need for robust security measures and vigilance. The recent apprehensions of suspects in these cases demonstrate the effectiveness of collaborative efforts between law enforcement agencies and the importance of advanced investigative techniques. by staying informed and proactive, businesses and authorities can better protect against these sophisticated fraud schemes.