The International Criminal Police Organisation (Interpol) has arrested over 300 individuals linked to the notorious West African criminal network, Black Axe, and other associated groups.
Black Axe, a secretive organization involved in trafficking, prostitution, and violent operations worldwide, primarily generates its revenue through cybercrime.
According to a statement from the organisation, the operation resulted in hundreds of arrests, the seizure of assets valued at $3 million, and the dismantling of several criminal networks across the globe.
Operation Jackal III, which took place from April 10 to July 3 across 21 countries on five continents, specifically targeted online financial fraud and the West African syndicates behind it.
Additionally, more than 400 other suspects were identified, and over 720 bank accounts were blocked.
In February 2024, President Bola Tinubu pledged increased support for the Economic and Financial Crimes Commission to enhance its capacity to combat digital crimes.
Director of INTERPOL’s Financial Crime and Anti-Corruption Centre (IFCACC) Isaac Oginni said, “The volume of financial fraud stemming from West Africa is alarming and increasing. This operation’s results underscore the critical need for international law enforcement collaboration to combat these extensive criminal networks.
“By identifying suspects, recovering illicit funds and putting some of West Africa’s most dangerous organized crime leaders behind bars, we are able to weaken their influence and reduce their capacity to harm communities around the world.”
‘Supernotes’
In Argentina, Operation Jackal III led to the dismantling of a Nigerian-led transnational criminal network following a five-year investigation. The Federal Police seized USD 1.2 million in high-quality counterfeit banknotes, arrested 72 suspects, and froze around 100 bank accounts.
This criminal network used money mules to open bank accounts globally and is now under investigation in over 40 countries for related money laundering activities. The suspects include citizens from Argentina, Colombia, Nigeria, and Venezuela.
More than 160 victims of fraud suffered significant financial losses, with some forced to sell their homes or take out large loans as a result.
Illegal Money Trails
Diego Verdun, Head of Argentina’s National Central Bureau, said:
“Operation Jackal is a crucial step forward in combating West African online financial fraud and clearly demonstrates that cybercriminals cannot escape the watchful eye of INTERPOL’s 196 member countries – especially in Argentina.
“By following illegal money trails worldwide, INTERPOL and the global police community ensure that no matter where these criminals try to hide, they will be relentlessly pursued and brought to justice.”
In a separate case in Switzerland, it cracked down on West African organised crime syndicates operating nationwide, seizing cocaine, approximately EUR 45,000 in cash, and arresting multiple suspects.
Cryptocurrency transactions
Portuguese criminal police have dismantled a Nigerian network involved in recruiting money mules and laundering funds from victims of online financial fraud across Europe. During the operation, over 25 syndicate members were identified.
Data recovered from seized computers and phones revealed significant transfers to Nigerian bank accounts, cryptocurrency transactions, and intricate money laundering schemes.
INTERPOL headquarters supported the operation by facilitating intelligence sharing and assisting in the identification and apprehension of suspects.
Operation Jackal III brought together police forces, financial intelligence units, asset recovery offices, and private sector partners from countries including Argentina, Australia, Brazil, Canada, Côte d’Ivoire, France, Germany, Indonesia, Ireland, Italy, Japan, Malaysia, Netherlands, Nigeria, Portugal, South Africa, Spain, Sweden, Switzerland, the United Kingdom, and the United States.
In November 2023, the Nigerian Senate expressed concerns over an estimated annual loss of $500 million due to various forms of cybercrime in the country.