Authorities bust online banking fraud network, arrest two suspects
Libya’s Financial Crimes Unit has dismantled an online fraud network that impersonated Libyan banks through fake customer support pages to steal citizens’ bank accounts, arresting two suspects linked to the scheme.
The unit said it received three complaints from victims who collectively lost LYD 97,145 after their accounts were compromised. Investigators tracked the stolen funds, froze the recipient accounts, and uncovered a money transfer operation involving intermediaries who purchased US dollars on the parallel market before forwarding the funds to the network’s beneficiaries.
Authorities identified the two suspects by matching digital evidence with information provided by the victims. Both admitted to transferring the stolen money on behalf of the network’s alleged mastermind, who has also been identified and was found to be connected to previous fraud complaints.
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