FBI and Thai Police Seize 8,000 Phones and Freeze $580M

• FBI and Thai police collaborate to combat rising internet fraud targeting Americans.
• Joint task force seized 8,000 phones and froze over $580M in crypto assets.
• Meta removed over 150,000 accounts linked to global scam networks and fraud.

Joint efforts by the FBI and Thai police to combat scams targeting Americans are yielding results. The joint task force comprising FBI agents and the Royal Thai Police led to the seizure of 8,000 phones and the freezing of $580 million in crypto.

Following a surge in organized internet scams originating from Thailand, the FBI’s Bangkok office constituted a joint task force with the Royal Thai Police last August. So far, the law enforcement agents have seized 8,000 phones and 1,300 hard drives from suspected compounds.

An Industrial-Scale Fraud Operation

According to FBI Deputy Assistant Director Scott Schelble, the task force has gone beyond just targeting individual scammers and now focuses on dismantling the networks that finance and sustain the compounds. The groups occupy fortified office parks where trafficked workers sit at rows of computers, following scripts designed to extract as much money as possible from international victims. 

Shelbe described the situation as an industrial-scale fraud operation, noting that Americans lose billions of dollars to these schemes annually. He further noted that the crimes are often emotionally devastating, targeting retirees, small-business owners, and people seeking companionship.

The FBI’s efforts are yielding results, reflected in the DOJ’s Scam Center Strike Force freezing and seizing over $580 million in cryptocurrency. The operation involves a six-month rotation of special FBI agents deployed to work alongside Thai authorities. They are also tracing crypto transactions across blockchains and freezing accounts. Meanwhile, Meta recently took down over 150,000 accounts tied to scam networks as part of a joint effort with Thai police. The operation led to the arrest of 21 suspects.

Notably, the criminals adopt one of the fastest-growing fraud techniques known as “pig butchering,” a term derived from the methodical way scammers “fatten up” their targets. Typically, the fraudsters engage their victims in casual conversations, slowly introducing them to fake investment opportunities, particularly in cryptocurrency.

Related: Lawsuit Alleges JPMorgan Provided Banking Infrastructure for a Massive Crypto Fraud