The Northern Territory Police Cyber Crime unit has executed search warrants at two residences in Palmerston resulting in the arrests of two males.
The two males, aged 24 and 32, have been charged with three counts and one count respectively of Obtain Benefit by Deception.
A total of $10,000 cash was seized from one residence and a further $11,000 cash was later recovered by police.
As part of an ongoing operation targeting a group allegedly receiving and dealing in the proceeds of online fraud, the Cyber Crime unit alleges that in the past six months, members of this group fraudulently received in excess of $600,000.
The investigation uncovered alleged fraud dealings concerned with Business Email Compromise and romance scams.
Most of these funds were transferred to locations outside of Australia including China, South Africa and Nigeria. Victims of the scams include businesses in Queensland, South Australia, Western Australia and an individual from Canada.
The males were remanded in custody to face court today.
Investigations are ongoing with more expected to be charged in coming weeks, police said.