JOHANNESBURG - The Hawks have dismantled an international investment scam syndicate operating out of South Africa, in an operation conducted in partnership with Interpol and other international law enforcement agencies.
Thirty-one suspects aged between 38 and 61 were arrested in Johannesburg on Tuesday, including six alleged masterminds and 25 call centre agents.
They are expected to appear in court on 4 February, facing charges of contravening the Financial Advisory and Intermediary Services Act (FAIS Act) 37 of 2002.
The sophisticated syndicate allegedly operated from multiple locations, including Gauteng and the Western Cape.
Investigators say the group advertised bogus investment opportunities on social media, targeting individuals close to retirement.
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Victims were identified in several countries, including the United Kingdom, Australia, Canada and New Zealand.
According to the Hawks, victims were initially persuaded to make small online investments that falsely reflected high returns.
Communication between call centre agents and victims then continued via platforms such as Skype, Messenger, Zoom and WhatsApp, until victims were convinced to invest larger sums of money.
Hawks spokesperson Christopher Singo said the arrests stem from an investigation launched in 2022, after the Gauteng Hawks’ Serious Commercial Crime Investigation team received 43 complaints from Australian victims.
"During the course of the investigation, we discovered that there were victims from other countries.
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"That’s why the role of Interpol was significant in this operation, to establish where the money was going," Singo said.
Electronic devices were seized from the call centres and are being analysed by cybercrime experts to trace the money trail.
Singo said the investigation remains ongoing and further arrests cannot be ruled out.
Police added that the alleged scammers operated across multiple sites and registered several companies to facilitate the leasing of premises.