INTERPOL, the International Criminal Police Organization, has shut down over 720 bank accounts connected to online scams in West Africa.
This action, called ‘Operation Jackal III,’ took place between April 10 and July 3. It involved 21 countries across five continents, targeting online financial crimes led by West African groups.
According to INTERPOL, the operation resulted in hundreds of arrests, the seizure of assets worth $3 million, and the breaking up of many criminal gangs worldwide.
Nigerian Network Busted
INTERPOL also revealed that Portuguese police helped break up a Nigerian gang that hired people to launder money from online scams in Europe. They identified more than 25 members of this group.
“Data from seized computers and phones showed large transfers to Nigerian bank accounts, cryptocurrency transactions, and complex money laundering activities,” INTERPOL said.
Commenting on the operation, Isaac Oginni, Director of INTERPOL’s Financial Crime and Anti-Corruption Centre, said:
“The level of financial fraud from West Africa is scary and growing. This operation shows how important international cooperation is in fighting these huge criminal networks.”
“By identifying suspects, recovering stolen money, and putting key crime leaders in jail, we can reduce their power and ability to hurt communities worldwide.”
Argentina Operation
In Argentina, Operation Jackal III helped take down a Nigerian-led criminal network after a five-year investigation. Argentine Federal Police seized $1.2 million in fake banknotes, arrested 72 people, and froze about 100 bank accounts.
“The network used ‘money mules’ to open bank accounts worldwide and is being investigated in over 40 countries for money laundering. Suspects include people from Argentina, Colombia, Nigeria, and Venezuela,” INTERPOL said.
INTERPOL added that more than 160 victims lost significant amounts of money, with some forced to sell their homes or take out large loans to cover their losses.
Why You Should Care
The fight against international online fraud is critical as these crimes are increasing globally.
In a similar operation in December 2023, INTERPOL’s actions led to 3,500 arrests and the seizure of $300 million in assets across 34 countries, including Nigeria and Ghana.
The six-month-long Operation HAECHI IV (July-December 2023) focused on seven types of scams: voice phishing, romance scams, online blackmail, investment fraud, money laundering related to illegal gambling, business email compromise, and e-commerce fraud.