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COVID-related financial crime nears two million global cases - Swiss Cyber Investigative Solutions

May 29th 2020 - Cyber Investigative Solutions is a Department at Swiss Security Solutions LLC based in Zürich, Switzerland. As the pandemic first spread across the globe, it left behind a trail of financial trauma, enticing financial and cyber criminals to crawl out of the woodwork to capitalize on the damage.


According to financial insight provider Refinitiv, the number of global cases of financial crime have risen to 1,880,591 as of the end of April 2020, with the daily increase rate appearing to peak in mid-April, nearing 100,000 new cases a day. However, this seems to have lowered to 71,042 new cases a day at the end of April.


The types and severity of financial crime following the pandemic also vary greatly:

  • Supply chain fraud: There has been a rise in the sale of fake protective equipment such as sub-standard hand sanitizers, and many fraudsters simply take the money and never deliver the product. One European company reportedly transferred €6.6 million to a supplier for PPE and allegedly never received the goods;

  • Phishing scams: The number of criminals trying to steal personal and intellectual property information has risen dramatically, often via phishing emails claiming to be from organizations responsible for providing information relating to the virus;

  • Regulatory risk: As new legislation is implemented to tackle the effects of the pandemic, financial institutions are moving more operations online and while this could be an opportunity to explore digitalization, secure solutions must be adopted to avoid cyber security threats;

  • Corruption concerns: The UN Office on Drugs and Crime has found that between 10-25% of the money spent globally on procurement of medicines and supplies is lost to corruption.

With these varieties of financial crime, it is perhaps no surprise that many organizations are looking to mitigate risk with new solutions. There are many options who can help and when.

Cyber Investigative Solutions are helping globally in fighting the cyber crimes and consulting of the Business, Governments, Executives C-Level, Private Family Offices, Attorney Offices and VIP / Celebs.


For more information please visit the website www.cyber-investigation-services.com,

or contact Swiss Security Solutions LLC directly.


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International Association of Recognized Police Officers

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