Worldwide, 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. Vast amounts of crime proceeds are thus generated –and often laundered – on the Internet and through the use of information and communication technologies.

Online financial fraud and credit card fraud are highly profitable criminal activities and generating proceeds often being their primary purpose. BEC/CEO fraud affects businesses of all sizes in both the private and public sector with tens of thousands of victims worldwide resulting in the loss of billions. At the same time payment cards still remain a very popular payment method and therefore a target for criminals. Debit and credit cards skimming still represents a major threat. Card-present and card-not-present fraud is widely spread with forged cards and compromised credit card details being used to commit high volume crime, with tens of thousands of victims.

The iPROCEEDS Project has organised a two days’ workshop in Sarajevo on online financial fraud and credit card fraud, which contributed to strengthening the capacity of the national criminal justice authorities to search, seize and confiscate online crime proceeds generated by such criminal activities.

Participants representing the relevant national authorities from Bosnia and Herzegovina and the banking sector discussed with their international counterparts from National Crime Agency (UK), State Criminal Police Office Baden-Württemberg (Germany) and Brigade for Countering Organised Criminality Ploiesti (Romania) current threats, trends, countermeasures and various initiatives in the field of investigation and prosecution of online financial fraud and credit card fraud, challenges posed by the Darknet markets and criminal use of bitcoins,  tools and methods to search, seize and confiscate online crime proceeds generated by online frauds, as well as  best practices related to public/private cooperation and partnerships and information sharing between cybercrime related governmental agencies and the private sector.

• Agenda
• iPROCEEDS project webpage