Puerto Vallarta, Mexico – The International Criminal Police Organization (Interpol) has issued a chilling warning about the increasing presence of the Jalisco New Generation Cartel (CJNG) in financial fraud schemes. Utilizing technology and Artificial Intelligence (AI), the CJNG is perpetrating sophisticated crimes, as outlined in Interpol’s recent Financial Fraud Assessment report. This report sheds light on how organized crime groups are blending cryptocurrencies with ransomware business models to carry out increasingly widespread fraud campaigns worldwide.

Interpol Secretary-General Jürgen Stock emphasized the role of rapidly advancing technology in expanding the scope and complexity of organized crime. “The swift technological changes and the sheer volume of organized crime have led to the development of new fraudulent methods, victimizing individuals, businesses, and governments alike,” Stock stated. He urged for immediate action, stressing the need for increased reporting of financial crimes and investments in law enforcement training to effectively combat these emerging challenges.

The report reveals the prevalence of various forms of fraud across the globe, including online investments, advance payments, bank accounts, technical support, and phishing – a deceptive technique used to obtain personal and financial information from unsuspecting individuals. In the Americas, identity theft and financial fraud are increasingly being carried out through call centers. The CJNG, along with a Brazilian criminal group, has been identified as major players in these illegal activities. According to Interpol, there is mounting evidence that Latin American criminal factions, such as Comando Vermelho and Primeiro Comando da Capital (PCC), are actively participating in financial fraud, highlighting a disturbing trend in the region’s criminal landscape.

Notably, the CJNG has been linked to timeshare fraud, primarily targeting elderly American citizens. This fraudulent scheme involves agents contacting potential timeshare clients and demanding upfront fees for taxes and commissions, under the pretense of refundable costs after the sale. However, victims eventually discover that the initial offer was a scam, resulting in the loss of their funds.

The United States Treasury Department has identified Puerto Vallarta, Jalisco, as a critical operating hub for the CJNG’s fraudulent activities. Between March 2 and April 27, 2023, the Office of Foreign Assets Control (OFAC) imposed sanctions on 27 Mexican entities connected to the CJNG for their involvement in these deceitful operations. The increasing trend of financial fraud, exacerbated by technological advancements and the involvement of organized crime syndicates like the CJNG, poses a complex challenge that requires international cooperation

Introducing a new article posted on cartelinsider.com: “Interpol Warns About Increasing Financial Fraud by CJNG and Other Criminal Organizations”

Many of us are familiar with the Jalisco New Generation Cartel (CJNG) and their involvement in drug trafficking, but according to Interpol, this notorious criminal organization is also responsible for an alarming increase in financial fraud. In their recently published report, the organization highlights how technology and AI have enabled these groups to carry out more sophisticated fraud campaigns.

Interpol’s Secretary General, Jürgen Stock, stresses the urgency to take action against this growing threat. The report emphasizes the need for more awareness, reporting, and training for law enforcement to combat this type of crime. So, what types of fraud are the CJNG and other organizations committing? The report mentions online investments, phishing, and something not mentioned in the report – timeshare scams.

That’s right, the CJNG has also been involved in targeting unsuspecting victims, particularly elderly Americans, in timeshare scams. By promising refunds or commissions on upfront payments, they lure in potential buyers and then disappear with the money. In fact, the U.S. Department of Treasury has sanctioned 27 Mexican companies for their connection to this type of fraud and their ties to the CJNG.

With their operations center in Puerto Vallarta, the CJNG has been able to carry out these scams with ease. But as always, we remind our readers to be cautious and aware of these criminals’ tactics. It’s crucial to report any suspicious activity and not fall for these too-good-to-be-true offers. Let’s work together to put an end to financial fraud and keep ourselves and our loved ones safe.

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Thank you for reading and stay safe,

Mica
Email: mica@cartelinsider

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