International Financial Law Prof Blog

Editor: William Byrnes
Texas A&M University
School of Law

Friday, March 13, 2020

Whistle-blower Exposes Massive Global Boiler Room 'Milton Group' from Ukraine, Leader Calls Himself “the Wolf of Kiev”,

OCCRP reports Those worst affected were preyed upon by the call center’s “retention” desk, whose job was to conjure up new ways to extract more money, often through brutal psychological pressure. Some were harassed into taking out huge loans, threatened by forged letters from UK financial regulators demanding taxes, or contacted by fake lawyers offering to help get their money back — for yet another fee. In the most extreme cases, Milton Group’s retention specialists would convince victims to install software on their computers that allowed the scammers to control them remotely, and steal more money in the process. Some lost more than $200,000. Read the full investigative story here

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