The Ethiopian Federal Police have apprehended 37 suspects linked to a sophisticated mobile banking fraud scheme that defrauded 658 citizens of over 200 million Birr.
Authorities detained the suspects during coordinated operations that also resulted in the seizure of nine vehicles, 114 mobile phones, and 478 unregistered or illegally acquired SIM cards. According to preliminary police investigations, the syndicate operated across multiple rented properties, systematically coordinating high-level digital financial crimes that targeted vulnerable banking customers nationwide.
The group executed the cyber-enabled fraud by impersonating bank technical support staff, deploying deceptive tactics such as claiming victims had won prizes, offering to upgrade mobile banking systems, or demanding account synchronization with national Fayda digital IDs. By manipulating victims into surrendering sensitive credentials, including One-Time Passcodes (OTPs), personal identification numbers (PINs), and secure account passwords, the perpetrators gained unauthorized access to transfer large sums of money.
To evade law enforcement detection, the syndicate utilized a decentralized operational network involving rented safehouses and hundreds of bank accounts and SIM cards registered under stolen or purchased identities. This layered infrastructure allowed them to rapidly channel and launder stolen funds across different financial conduits before authorities intervened following a surge in public grievances.
The Federal Police have formally urged any additional victims impacted by this fraud ring to come forward and report their cases through the official EFPApp, the 991 emergency hotline, the Secure Police Service (SPS) platform, or by visiting the General Crime Investigation Directorate in person. Furthermore, financial experts and law enforcement agencies reiterated that legitimate banking institutions never request confidential security credentials over personal phone calls, urging citizens to remain vigilant against evolving digital scams.