- The International Criminal Police Organisation (INTERPOL) has announced the outcome of a global operation — Operation Jackal III — which uncovered the infamous Nigerian-based Black Axe gang amongst other identified 25 criminal syndicate members.
- Operation Jackal III ran from April 10 to July 3 across 21 countries in 5 continents and as a result, brought about the arrest of over 300 criminals and 400 identified suspects. This prompted the freezing of over 720 bank accounts and the seizure of $3 million in assets.
- Information from the seized computers and phones revealed that these groups made large transfers to Nigerian banks and engaged in cryptocurrency transactions and advanced fraud operations.
The three-month operation targeted West African cybercrime groups and online financial fraud ahead of two other annual operations.
INTERPOL identified "Black Axe" as one of the most prominent West African transnational organised crime syndicates, involved in cyber fraud, human trafficking, drug smuggling, and violent crimes both within Africa and globally.
Isaac Oginni, Director of INTERPOL’s Financial Crime and Anti-Corruption Centre (IFCACC), 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 organised crime leaders behind bars, we are able to weaken their influence and reduce their capacity to harm communities around the world."
Suspects from the group include citizens from Colombia, Nigeria, and Venezuela. In Argentina, after a five-year investigation, police seized $1.2 million and arrested 72 suspects.
In March 2024, the EFCC and Nigeria Financial Intelligence Unit (NFIU) devised new strategies to remove the country from the Financial Action Task Force (FATF) grey list. However, this recent event adds to the country’s negative perception. Nigeria ranks among the top scammers in the world following India, China, and Russia.
The Central Bank recently issued a directive requiring telecommunications companies, financial institutions, and the Nigerian Stock Exchange to pay a cybersecurity levy for all electronic transactions, which will be remitted to the National Cybersecurity Fund.
What’s more, African countries have been targeted for most cyber crimes and malware attacks.
