Mica for cartelinsider.com
The International Criminal Police Organization (Interpol) warned about the involvement of the Jalisco New Generation Cartel (CJNG) in financial fraud. This crime has increased globally through technology and Artificial Intelligence (AI).
This Monday, Interpol published its Financial Fraud Assessment: A Global Threat Enhanced by Technology, in which it mentions how organized crime groups have combined cryptocurrencies with ransomware business models (malicious code that affects a victim’s devices) to implement “more sophisticated and professional” fraud campaigns.
“The changes in technology and the rapid increase in scale and volume of organized crime have driven the creation of new ways to defraud innocent people, companies, and even governments,” noted Interpol Secretary General Jürgen Stock.
He added that with the implementation of AI and cryptocurrencies, “the situation will only worsen if urgent measures are not taken.” In this sense, Stock mentioned that the reporting of financial crimes must be encouraged, as well as investing and training law enforcement forces on how to deal with this issue.
The report indicates that worldwide, fraud prevails in online investments, advance payments, bank accounts, technical support, and phishing (a fraudulent method that involves deceiving people into sharing their passwords, credit card numbers, and confidential information).
In the American continent, Interpol indicated a trend in identity theft and financial fraud, which are carried out from spaces enabled as “call centers.” Among the organizations involved in this type of crime, the CJNG and a criminal group from Brazil were mentioned.
“Interpol indicated that there is growing evidence that Latin American criminal organizations such as Comando Vermelho, Primeiro Comando da Capital (PCC), and Cartel Jalisco Nueva Generación (CJNG) are also involved in committing financial fraud.”
Although not mentioned in the Interpol report, the CJNG has been involved in timeshare scams for a couple of years. Their primary victims, according to the US Department of Treasury, are elderly American citizens.
Shared time is a procedure used to “commercialize any real estate intended to accommodate tourists during their vacation periods and consists, essentially, in dividing the use of a unit into periods,” indicates the Mexican Association of Tourist Developers (AMDETUR).
Fraud involves a third party contacting people interested in staying at one of these timeshares. To do so, they request an upfront payment for commissions and taxes, with the false promise that the money will be refunded at the end of the sale.
However, once the payment has been made, the victims realize that the initial offer was fictional and their money was stolen.
The Department of Treasury indicates that the CJNG has its operations center to commit these frauds in Puerto Vallarta, Jalisco. Between March 2 and April 27, 2023, the Office of Foreign Assets Control (OFAC) sanctioned 27 Mexican companies for their relationship with the “cartel of the four letters” and their involvement in this illicit activity.
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Mica
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