INTERPOL operation strikes major blow against West African financial crime

LYON, France - A global law enforcement operation targeting West African organized crime groups, including Black Axe, has led to hundreds of arrests, the seizure of assets worth USD 3 million, and the dismantling of multiple criminal networks around the world.

Operation Jackal III, which ran from 10 April to 3 July across 21 countries on five continents, targeted online financial fraud and the West African syndicates behind it.

The annual operation resulted in some 300 arrests, the identification of over 400 additional suspects, and the blocking of more than 720 bank accounts.

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 organized crime leaders behind bars, we are able to weaken their influence and reduce their capacity to harm communities around the world."

‘Supernotes’

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 Argentina, Operation Jackal III 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 counterfeit banknotes – arrested 72 suspects and froze approximately 100 bank accounts.

The network used money mules to open bank accounts worldwide 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 fraud victims 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, police cracked down on West African organized crime syndicates operating nationwide, seizing cocaine, approximately EUR 45,000 in cash, and arresting multiple suspects.

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

Cryptocurrency transactions

Portuguese criminal police dismantled a Nigerian network involved in money mule recruitment, laundering funds from online financial fraud victims across Europe. More than 25 syndicate members were identified in the process.

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.

Operation Jackal III mobilized police forces, financial intelligence units, asset recovery offices, and private sector partners in Argentina, Australia, Brazil, Canada, Cote D’Ivoire, France, Germany, Indonesia, Ireland, Italy, Japan, Malaysia, Netherlands, Nigeria, Portugal, South Africa, Spain, Sweden, Switzerland, United Kingdom, and the United States.