File Photo: Egyptian security forces. Al-Ahram.
The Ministry of Interior announced Tuesday that security authorities identified and apprehended 39 individuals involved in running three fraudulent platforms — GME, RGA, and BTS — designed to deceive citizens through online scams.
The arrests were made after numerous victims reported losing approximately EGP 12 million.
During the operation, authorities seized large quantities of SIM cards, some linked to electronic wallets, along with several luxury vehicles, gold jewellery, mobile phones, and laptops.
The total value of the confiscated assets, cash and in-kind, amounted to EGP 75 million.
Investigations revealed that these platforms were linked to an international crime organization operating across multiple countries, including Egypt.
That criminal organization allegedly converted the stolen funds into digital currencies using an online application before transferring them abroad.
The interior ministry has reiterated its warning to the public against engaging with unverified online platforms that promise quick financial gains, emphasizing the risks of fraud and financial loss. Legal measures have been taken against the arrested individuals.
This is the latest episode in the ongoing efforts to crack down on online fraud platforms. In February, 13 individuals were arrested for their involvement in a large-scale online fraud scheme linked to the FBC platform, which deceived over 100 victims out of nearly EGP 2 million.
Similar fraudulent schemes have emerged worldwide, including the White Sands scam in 2022, which defrauded millions of Egyptians, and HoggPool in 2023, which siphoned billions from victims.
Despite repeated warnings, many continue to fall victim to these scams, driven by economic hardship and a lack of financial literacy.
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