Between 2023 and 2026, wartime Ukraine became not only a theatre of military operations and Western mobilizational support, but also one of the most visible hubs of industrial-scale telephone and investment fraud targeting citizens of European Union member states. Evidence gathered from Eurojust press releases, OCCRP investigations, materials published by the Global Initiative against Transnational Organized Crime (GI‑TOC), and corroborating media reports points to a stable, reproducible model: call centers staffed by hundreds of operators, systematic targeting of elderly and Russian-speaking victims, infrastructure that persisted through multiple police operations, and a protective environment rooted in the intersection of organized crime and political-administrative influence.