INTERPOL dismantles West Africa financial crime network

The unwavering commitment and countless hours spent by the International Criminal Police Organization [INTERPOL] and various local law enforcement partners that targeted West African organized crime groups including Black Axe, has led to hundreds of arrests, seizure of assets worth USD3million, and the dismantling of multiple criminal networks around the world.

In a press statement signed and issued recently by Mr. Isaac Oginni, Director of INTERPOL’s Financial Crime and Anti-Corruption Center [IFCACC], the annual operation, “JACKAL” resulted in some 300 arrests, the identification of over 400 additional suspects, and the blocking of more than 720 bank accounts.

He observed that “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,” he stated.

Underground investigation has revealed that Black Axe is one of the most prominent West African transnational organized crime syndicates, with operations in cyber fraud, human trafficking, drug smuggling, and violent crimes both within Africa and globally.

In South America to be precise Argentina, Operation Jack III by INTERPOL and Argentine police saw the dismantling of a Nigerian-led transnational criminal network following a five-year investigation. The Federal Police seized USD 1.2 million in “supernotes”- high quality counter counterfeit banknotes, arrested 72 suspects and froze approximately 100 bank accounts.

The startling revelation was that the network used money mules to open bank accounts worldwide which are under investigation in over 40 countries for related money laundering activities.

Findings from earlier investigations have it that the suspects included citizens from Argentina, Colombia, Nigeria and Venezuela with more than 160 fraud victims suffered significant financial losses, with some forced to sell their homes or take out large loans as a result.

Commenting about illegal money trails, Diego Verdun, Head of Argentina’s National Central Bureau said, “Operation Jackal was 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."

He said 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, investigation further revealed that the police cracked down on West African organized crime syndicates operating nationwide, seizing cocaine, approximately EUR 45,000 in cash, and arresting multiple suspects.

It was noted that INTERPOL supported the operation by providing real-time access to its databases, facilitating the identification of criminals and their activities.

Another case was recorded where Portuguese criminal police dismantled a Nigerian network involved in money mule recruitment, laundering funds from online financial fraud victims across Europe. More syndicate members were identified in the process.

As reported by INTERPOL, data from seized computers and phones revealed large transfers to Nigerian bank accounts, cryptocurrency transactions, and sophisticated money laundering operations.

INTERPOL headquarters assisted countries by facilitating intelligence exchange and the identification and apprehension of suspects.

Operational Jack III mobilized police forces, financial intelligence units, asset recovery offices, and private sector partners in Argentina, Australia, Brazil, Canada, Côte D’Ivoire, France and Germany. Other countries include Indonesia, Ireland, Italy, Japan, Malaysia, Netherlands, Nigeria and Poland.

The rest are South Africa, Spain, Sweden, Switzerland, the United Kingdom, and the United States of America.