Investigative Committee concludes case on AMD 38 million  computer  fraud scheme

ArmInfo. The Investigative Committee has completed the preliminary investigation of a criminal case opened against an individual for the theft of 38  million drams across 97 counts.

According to the Investigative Committee's press service, between May  17, 2022, and May 10, 2024, the suspect targeted individuals posting  service or product advertisements on the List.am platform. Operating  via WhatsApp, the individual posed as a buyer or client offering an  online advance payment and parcel delivery. The suspect transmitted  fraudulent electronic links to sellers and service providers to  obtain front and back banking card details. Using this unauthorized  data access, funds totaling 38,614,880 drams were stolen from the  bank accounts of 97 separate victims.

To conceal the illicit origin of the funds, the individual routed the  money through various channels  including conversion into  cryptocurrency and transfers to electronic wallets registered under  third-party names before managing and disposing of the assets.

By decision of the supervisory prosecutor, a criminal case has been  initiated against this individual on charges of participating in a  criminal organization, computer theft, and money laundering (97  counts). The suspect is currently in custody, and the case file has  been forwarded to the supervising prosecutor with an indictment.