Ukraine Scam Centers Posed as Banks

A Ukrainian corruption investigation uncovered a network accused of paying officials to protect fraudulent call centers. The centers allegedly targeted victims in Ukraine and abroad by posing as bank employees, law enforcement officers, or financial advisers, and by directing people to fake investment platforms or seeking access to bank accounts.

Key findings

• Operation Carthage uncovered an alleged criminal organization that bribed senior law-enforcement officials to allow fraudulent call centers to operate without interference.
• The alleged network included at least 12 people, including senior officials from the SBU, Prosecutor General's Office, National Police, and people linked to organized crime.
• The call centers allegedly targeted people in Ukraine and abroad.
• Scammers reportedly impersonated bank employees, law-enforcement officers, and financial advisers.
• Reported scam workflows included directing victims to fraudulent investment platforms, spoofing legitimate phone numbers, and persuading victims to transfer money or provide bank-account access.

Who’s being targeted

• Commonly targeted roles: Finance and treasury staff, Employees authorized to make payments, Executives, Customer-facing banking staff, All employees who receive phone calls.
• Affected industries: Banking and financial services, Law enforcement and government, Investment services, Telecommunications.
• Attack channels: vishing, website.
• Impersonated: Bank employee, law-enforcement officer, or financial adviser, Financial adviser.

Awareness takeaways

• Treat unsolicited calls from banks, police, and financial advisers as unverified, even when the caller ID looks legitimate. End the call and contact the organization through a known official number.
• Never transfer money or give a caller access to a bank account based only on an inbound call. Independently verify the request first.
• Be cautious when someone directs you to an investment platform during an unsolicited contact, particularly when they use urgency or authority to push immediate action.

Red flags to watch for

• The caller creates urgency around money or account access.
• The caller asks for a transfer or access to an account.
• The incoming number appears legitimate but may have been spoofed.
• An unsolicited caller pushes an investment opportunity.
• The caller directs the victim to an unfamiliar investment platform.
• A phone number that appears to belong to a legitimate institution may be spoofed.