By Jemimah Wellington, JKNMedia Reporter
INTERPOL HAS blocked over 720 bank accounts tied to online financial fraud in West Africa.
This was the result of “Operation Jackal III,” a sting conducted from April 10 to July 3.
The operation spanned 21 countries across five continents.
INTERPOL targeted online financial fraud and the West African syndicates behind it.
The operation led to hundreds of arrests and the seizure of assets worth $3 million. Multiple criminal networks were dismantled globally.
Portuguese criminal police, in collaboration with INTERPOL, dismantled a Nigerian network.
This network recruited money mules and laundered funds from online fraud victims across Europe.
They identified over 25 syndicate members.
Obtained Data
Data from seized computers and phones showed large transfers to Nigerian bank accounts, cryptocurrency transactions, and sophisticated money laundering operations.
Isaac Oginni, Director of INTERPOL’s Financial Crime and Anti-Corruption Centre, stated the urgency of international cooperation.
He emphasized the need to combat the extensive criminal networks in West Africa. By identifying suspects and recovering illicit funds, INTERPOL aims to weaken these criminal organizations.
Transnational Network
In Argentina, INTERPOL dismantled a Nigerian-led transnational criminal network after a five-year investigation.
The country’s Federal Police seized $1.2 million in high-quality counterfeit banknotes. They arrested 72 suspects and froze about 100 bank accounts.
This network used money mules to open bank accounts worldwide.
It is now under investigation in over 40 countries for related money laundering activities. Suspects include citizens from Argentina, Colombia, Nigeria, and Venezuela.
Fraud Victims
Over 160 fraud victims suffered significant financial losses.
Some had to sell their homes or take out large loans due to these schemes.
The crackdown comes amid a rise in online financial fraud globally.
In a similar operation concluded in December 2023, INTERPOL arrested 3,500 suspects.
They seized $300 million worth of assets across 34 countries, including Nigeria and Ghana.
Operation HAECHI IV, a six-month operation, targeted various cyber-enabled scams such as voice phishing, romance scams, online sextortion, investment fraud, illegal online gambling, business email compromise fraud, and e-commerce fraud.
