Serbian, German, Bulgarian and Cypriot authorities have identified Australians as one of the main targets of a large network of cryptocurrency scam call-centers suspected to be based in Israel, according to reports by Cointelegraph.

The evidence was uncovered after prosecutors conducted a raid of Serbian call centers and residences, which saw fifteen people arrested and $1.46 million in cryptocurrencies seized.

Scammers from these call centers used advertisements that promised lucrative returns in order to lure people in, a report by The Australian found.

According to private investigation firms, Australians were particularly sought after because of their wealth and lax investigatory environment.

“Australia’s wealth combined with a long history of state and federal authorities being unwilling or unable to investigate online investment fraud has made the country a sitting duck for the international crime syndicates behind the scams,” Senior Investigator of IFW Global said.

Europol estimates the organization stole hundreds of millions of euros.

Author: Tris Bell