Ethiopia’s Federal Police have arrested 37 suspects accused of defrauding 658 citizens of more than 200 million birr through mobile banking scams, following a coordinated operation conducted in collaboration with other security and justice institutions.
The police said investigations were ongoing into the suspects, who allegedly organized themselves into groups and used various deception techniques to gain unauthorized access to victims’ bank accounts and steal their money.
According to the federal police, the suspects impersonated bank technical support staff and contacted victims by telephone, claiming that they had won prizes, needed to update their mobile banking systems or were required to link their bank accounts with their Fayda digital identification.
Using these pretexts, the suspects allegedly persuaded victims to disclose confidential banking information, including passwords, one-time passwords (OTPs), personal identification numbers (PINs) and other sensitive details. The information was then used to access accounts and carry out fraudulent transactions.
The police said the suspects operated through an organized network, renting residential properties and acquiring numerous bank accounts and SIM cards registered under different individuals’ names. Some of these accounts and SIM cards were allegedly purchased or rented from other people to facilitate the fraudulent activities and conceal the identities of those involved.
Federal police said the use of multiple bank accounts and SIM cards formed part of the methods employed to carry out the scams and move money obtained from victims.
During the operation, police seized nine vehicles, one motorcycle, 114 mobile phones and 478 SIM cards allegedly used in connection with the crimes.
The arrests and seizures form part of efforts by law enforcement authorities to combat financial crimes involving digital banking services and protect citizens from increasingly sophisticated fraud schemes.
