What do scammers do after robbing their victims? A police inspector reveals how thieves spend money that doesn’t belong to them.
Every day, thousands of people receive fraudulent messages pretending to be their bank, a delivery service or even the tax authorities. These messages, often alarming, encourage people to click on a link or provide sensitive information. This is called the smishingcontraction of “SMS” and “phishing”. Once the data has been captured, the scammers gain access to their victims’ bank accounts and can empty their patiently built-up savings in just a few clicks. The method is quick, difficult to trace and particularly devastating for those who fall into the trap.
But a disturbing question: what do the crooks really do with all this stolen money? Far from hiding it or laundering it via complex circuits, part of it is immediately spent on very visible objects. This is what Detective Chief Inspector Paul Curtis of the UK’s Financial Crime Unit discovered. During one operation, he carried out searches revealing a striking reality. “They like to lead a lavish lifestyle.”he says. And to add: “They don’t put money aside, they spend it here and now.“His teams came across impressive quantities of luxury objects…
During these searches, the police seized between 8,500 and 10,000 objects, mainly shoes and bags from major brands, testifying to this conspicuous consumption. The scent of new leather, colorful Gucci pumps and other luxury goods fill the seal room where this evidence is stored. These expenses give a concrete idea of the profits generated by scams… and how they are squandered. Far from the image of the cybercriminal hiding behind a computer, these profiles reveal a marked taste for excess, immediacy and unrestrained spending.
This choice to quickly spend the stolen money is not only about luxury: it is also about avoiding bank traces that could compromise them. By converting money into material goods, scammers think they can escape the radar. However, these objects also attract the attention of law enforcement. A pair of overpriced sneakers, a bag you can’t find in a store or an entire wardrobe filled with new pieces can put you in the mood. In other cases, investigators have spotted collectible watches, designer clothes or even luxury cars parked in modest neighborhoods. So many clues that end up, sooner or later, betraying their owner.
