By Emmanuel Ogbodo
The International Criminal Police Organization (INTERPOL) announced the blocking of over 720 bank accounts associated with online financial fraud across West Africa. This action resulted from “Operation Jackal III,” a sting operation conducted from April 10 to July 3, spanning 21 countries across five continents.
The operation specifically targeted online financial fraud and the West African syndicates responsible for it. INTERPOL reported that the operation led to hundreds of arrests, the seizure of assets valued at USD 3 million, and the dismantling of several criminal networks worldwide.
INTERPOL revealed that, in collaboration with Portuguese criminal police, they dismantled a Nigerian network involved in recruiting money mules and laundering funds from online financial fraud victims across Europe. Over 25 syndicate members were identified during the process.
Data extracted from seized computers and phones showed significant transfers to Nigerian bank accounts, cryptocurrency transactions, and sophisticated money laundering activities.
Isaac Oginni, Director of INTERPOL’s Financial Crime and Anti-Corruption Centre (IFCACC), commented on the operations: “The volume of financial fraud from West Africa is alarming and increasing. The results of this operation highlight the essential need for international law enforcement cooperation to tackle these extensive criminal networks. By identifying suspects, recovering illicit funds, and imprisoning some of West Africa’s most dangerous organised crime leaders, we can weaken their influence and reduce their ability to harm communities globally.”
In Argentina, INTERPOL reported that Operation Jackal III dismantled a Nigerian-led transnational criminal network following a five-year investigation. The country’s Federal Police seized USD 1.2 million in 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, involving citizens from Argentina, Colombia, Nigeria, and Venezuela.
INTERPOL added that over 160 fraud victims suffered significant financial losses, with some forced to sell their homes or take out large loans. This crackdown on international online fraudsters comes amid a rise in global online financial fraud.
In a similar operation concluded in December 2023, INTERPOL stated that a transcontinental police operation against online financial crime resulted in 3,500 arrests and the seizure of $300 million worth of assets across 34 countries, including Nigeria and Ghana. The six-month Operation HAECHI IV (July-December 2023) targeted seven types of cyber-enabled scams: voice phishing, romance scams, online sextortion, investment fraud, money laundering related to illegal online gambling, business email compromise fraud, and e-commerce fraud.