Cybercrime of today is driven mostly by financial gain and thus rapid detection and action on illegal money flows on the Internet often a necessity to identify and minimize damages from the criminal activity. Most cybercrime reported and investigated by criminal justice authorities is related to different types of fraud and other offences aimed at obtaining illegal economic benefits. Online financial fraud and credit card fraud are highly profitable criminal activities and generating proceeds often being their primary purpose. In the past years there was an increase in CEO fraud, a crime which affects businesses of all sizes in both the private and public sector. To respond effectively to these threats, co-operation is crucial between the law enforcement agencies and the industry through enhanced information sharing and public/private partnerships.

The iPROCEEDS project in cooperation with the Turkish National Police and MASAK have organised a workshop in Ankara on online financial fraud and credit card fraud, aiming at strengthening the capacity of the national criminal justice authorities to search, seize and confiscate online crime proceeds generated by such criminal activities and enhancing cooperation with the private sector.

Participants representing the relevant national authorities (judges, prosecutors, police and MASAK) and the banking sector discussed current threats, trends, as well as countermeasures and various initiatives in the field of detection, investigation and prosecution of online financial fraud and credit card fraud, social engineering, BEC/CEO fraud and ATM Fraud.

The representatives of MASAK also presented online money laundering typologies and indicators for the prevention and control of online fraud and criminal money flow for financial sector entities.

• iPROCEEDS project webpage