Interpol has successfully dismantled the notorious West African cybercrime group, Black Axe, in a major operation aimed at curbing organized crime and online fraud across the region.
More than 300 individuals connected to one of West Africa’s most dreaded criminal networks, Black Axe, and allied groups have been apprehended by the International Criminal Police Organisation.
According to a report by BBC on Wednesday, Interpol has discovered that an organized cybercrime group was behind numerous instances of global financial fraud and other serious crimes. These illegal activities took place in 21 different countries between the months of April and July 2024 as part of “Operation Jackal III,” a covert mission carried out by authorities.
The police dubbed the Nigerian crime network’s operation a significant setback, but cautioned that its technological capabilities and global influence rendered Black Axea a risk across borders.
As per the report, $3 million worth of unlawful assets were confiscated and over 700 bank accounts had been immobilized due to Operation Jackal III.
Tomonobu Kaya, a senior official at Interpol’s Financial Crime and Anti-Corruption Centre emphasized the importance of financial technology and cryptocurrency in supporting cyber criminals notorious for conducting online scams worth millions.
According to him, the criminal syndicates possess exceptional organization and structure while also being quick in embracing new technologies. He further added that many fintech advancements have made it effortless for these groups to illicitly transfer money across borders.
Although involved in trafficking, prostitution and killing operations worldwide, the Black Axe prioritizes cybercrime as its foremost means of generating revenue. The group operates discreetly as a criminal network.
According to the report, some individuals who belong to the feared organization were educated at universities and joined while they were attending school.
According to a report released by Interpol in 2022, the predominant cyber-related financial fraud and various other severe offenses are attributable to Black Axe and comparable associations.
Since 2022, numerous police operations dubbed as “Jackal” have been carried out resulting in the arrest of many members affiliated with Black Axe and other gangs. In addition to this, their electronic belongings were seized during transnational raids.
Canadian authorities reported uncovering a $5 billion (£3.8bn) money-laundering scheme associated with Black Axe in 2017 as an instance.
A high degree of technological proficiency and a competent staff are requisite for dealing with exceedingly advanced criminal organizations.
The Global Rapid Intervention of Payments system has been launched by Interpol, allowing authorities in 196 member countries to freeze bank accounts globally faster than ever before.
In July 2024, the police reported that a mechanism had been employed to put an end to a scam worth $40m which was aimed at defrauding a Singaporean business.
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“We must compile data and consolidate our discoveries from these countries in order to construct a profile of their modus operandi,” stated Kaya. “By collecting this information, we can enact measures.”
Dr Oluwole Ojewale, West Africa Regional Coordinator at the Institute for Security Studies holds that the government is responsible for not taking enough action to suppress criminal organizations like Black Axe and similar groups.
In addition, he stated that politicians manipulate these syndicate members to achieve their own benefits by equipping them with the essential resources to deceive unsuspecting individuals and carry out additional horrifying acts.
He claimed that the politicians are providing weapons to these boys and the overall inadequacy of governance in the nation is compelling individuals to become members of Black Axe.
According to Ojewale, prioritizing prevention over direct operations against such criminal groups is crucial.
In February 2024, President Bola Tinubu made a commitment to augment the aid provided for the Economic and Financial Crimes Commission in their fight against digital offenses.
He expressed dissatisfaction with the labeling and stereotyping of Nigeria as a nation characterized by rampant cybercrime and other forms of corruption within its people, which he referred to as “mislabelling” and “blanket stereotyping”.
Concerns were expressed by the Nigerian Senate in November 2023 regarding a yearly loss of $500m due to different types of cybercrime prevalent throughout the nation.
The warning highlighted the potential defeat of digital economy gains if adequate funding was not provided for the national cybersecurity programme.
The report also noted that Interpol’s Jackal Operations were initially established in Ireland.
The Garda National Economic Crime Bureau detected 1,000 individuals connected to Black Axe in the year 2020 and apprehended various members. Consequently, this allowed for a more extensive network to be brought forth into light.
Michael Cryan, the detective superintendent who oversaw the operation at GNECB, highlighted a rise in money laundering activities in Ireland caused by Black Axe’s criminal actions.
They kept a low profile and were quite discreet. The sum of money being laundered through Ireland was enormous.
According to Cryan, bank robberies have become increasingly sophisticated and now involve the use of laptops. This type of crime should not be trivialized as it is far from typical or ordinary. Those in positions of power must understand the gravity of this situation.
In Ireland, it is believed that cybercriminals have stolen approximately €200m ($220m or £170m) through online means over the last five years. However, this figure only represents 20% of all suspected cybercrimes as many go unreported according to his estimates.
According to the report, crypto-assets worth over €1 million were seized during a single operation.
