The Operation First Light action has led to the freezing of six thousands bank accounts and the seizure of $257 million in assets, including $2 million in cryptocurrency. That’s a big game!
The lights went out
The International Criminal Police Organization, aka Interpol announced that Operation First Light, involving 61 countries, has impacted online scam operations, because this joint initiative led to the freezing of 6,745 bank accounts and the seizure of $257 million in assets.
Based on the announcement, the operation targeted phishing, investment fraud, fake online shopping sites, romance scams, and impersonation scams, resulting in the arrest of 3,950 suspects and identifying another 14,643 potential suspects worldwide.
The chase is not better than the catch
During the operation, authorities intercepted around $135 million in fiat currency and $2 million in cryptocurrency, but they also seized over $120 million worth of other assets, including real estate, luxury vehicles, high-end jewelry, and other valuable items.
Operation First Light started in 2023 and concluded with its last phase from March to May 2024. Funded by China’s Ministry of Public Security, the operation ended with a meeting in Tianjin, where participating countries reviewed results, exchanged intelligence, and planned future actions. Like a big, fun bonfire after the hunt, posing with the trophies.
New gadgets, new powers
Interpol has been coordinating First Light operations since 2014 to support international cooperation and strengthen efforts against social engineering and telecom fraud.
Using Interpol’s Global Rapid Intervention of Payments (I-GRIP) mechanism, police were able to trace and stop illicit proceeds of crime in both fiat and cryptocurrency.
For example, they recovered $331,000 from a business email compromise fraud involving a Spanish victim who transferred money to Hong Kong, China.
Operation First Light just showcased the importance of international cooperation in combating online scams and maybe it has set a precedent for future operations too.
