Interpol has made a significant breakthrough in the fight against global cybercrime by arresting over 300 individuals linked to Nigeria’s notorious Black Axe criminal network and its affiliates. This crackdown took place during “Operation Jackal III,” a series of covert missions conducted in 21 countries from April to July 2024, according to a report by the BBC.
The Black Axe group, which originated in Nigeria, has long been associated with a variety of illegal activities, including cyber-enabled financial fraud, human trafficking, prostitution, and violent crimes. However, cybercrime remains the group’s most lucrative source of income. The international operation resulted in the seizure of $3 million in illegal assets and the freezing of more than 700 bank accounts tied to the syndicate.
Tomonobu Kaya, a senior official at Interpol’s Financial Crime and Anti-Corruption Centre, highlighted the role of advanced financial technology and cryptocurrencies in aiding these cybercriminals.
“They are very organised and very structured. These criminal syndicates are early adopters of new technologies… A lot of fintech developments make it easy to illegally move money around the world,” Kaya stated.
Several members of Black Axe are reportedly well-educated, having been recruited during their university years. Interpol noted that the group’s activities extend beyond Nigeria, posing a global threat. A 2022 report by Interpol indicated that Black Axe and similar groups are responsible for the majority of cyber-enabled financial fraud worldwide.
Interpol’s efforts to combat the activities of such groups have been ongoing, with multiple “Jackal” operations since 2022. These operations have led to numerous arrests and the seizure of electronic devices used in various transnational crimes. For example, Canadian authorities dismantled a $5 billion money-laundering scheme linked to Black Axe in 2017.
In response to the increasing threat, Interpol has launched the Global Rapid Intervention of Payments (GRIP) system, which allows member countries to freeze bank accounts swiftly, thereby preventing substantial financial losses. This mechanism was effectively used in July 2024 to halt a $40 million scam targeting a business in Singapore.
Despite these efforts, experts like Dr. Oluwole Ojewale from the Institute for Security Studies argue that more preventive measures are needed to curb the influence of groups like Black Axe. He criticized the government for its failure to tackle the root causes of such criminal activities, suggesting that poor governance and political manipulation have allowed these groups to thrive.
