Nearly $50 Mill Stolen Over 10 Days in Fraud Case, 5 Arrested

Five persons have been arrested in connection with a case that has defrauded a victim of nearly 50 million dollars. The Financial Investigations Division (FID) as well as members of the St. Andrew South Police Division on Tuesday executed a major operation to apprehend the suspects. 

The evidence indicates that the victim’s account was compromised by the fraudsters who were able to change certain security credentials. This resulted in the creation of an online banking profile for the victim, which created access to his account.

After over $46million was stolen from a victim, the FID in collaboration with members of the Counter-Terrorism & Organized Crime Investigations Branch (CTOC) and members of the St. Andrew South Police Division executed strategic search operations across sections of the corporate area which led to the arrest of five persons 

FID says the victim indicated that over the 10-day period of February 15 -25, 2022; over 40M wire transfers were executed on his account without his knowledge. The monies were transferred to the bank accounts of over 30 individuals with persons receiving between 950 thousand to 5 million dollars.

In police custody are:  two unemployed men, aged 22 years and 23 years, a 25-year-old man, employed as a warehouse supervisor, and two unemployed women, aged 48 years and 28 years.

Also arrested Tuesday, on reasonable suspicion of fraudulent transactions was a 21-year-old BPO employee. The FID says he was providing shelter and privileged client information to one of the aforementioned unemployed men.

In commenting on the investigations which lead to the operations and arrests, the FID’s Principal Director Keith Darien is assuring the public of its continuous efforts in fighting cybercrime.

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