Digital fraud rings exploit identities of 14 Libyan banks, monitoring platform finds
"Tahaqq" recorded 107 cases in July alone, with scammers moving victims to encrypted messaging apps and laundering proceeds through cryptocurrency
Libya's "Tahaqq" fact-checking platform documented around 107 cases of digital fraud in July 2026 in which the identities of 14 Libyan banks were used to lure victims, according to a report the platform published.
Digital banking fraud in Libya, the report said, is no longer confined to isolated, opportunistic scams. It has evolved into organised, well-funded operations relying on cross-border infrastructure and established channels for moving and laundering stolen funds.
Paid advertisements were used to reach victims in 52 percent of cases, while 96 percent of cases were subsequently moved to closed channels, including Messenger and WhatsApp, the report found.
Bank Al-Nouran was the most frequently impersonated institution, targeted in 39 cases, followed by the National Commercial Bank with 17 and Wahda Bank with 13. Together, the three banks accounted for 68 percent of all recorded cases.
Every case documented by the platform originated on Facebook before victims were redirected to private channels. Some operations used fake banking interfaces and phishing websites to harvest login credentials and verification codes.
Stolen funds were subsequently converted into cryptocurrency, the report said — a laundering method that has turned some cryptocurrency vendors into unwitting secondary victims in the chain.
