The International Criminal Police Organisation (Interpol) has apprehended over 300 individuals linked to one of West Africa’s most notorious criminal networks, Black Axe, and its affiliated groups.
This action was part of “Operation Jackal III,” which took place across 21 countries from April to July 2024. Interpol reported that the cybercrime group is implicated in significant global financial fraud and other serious crimes, according to BBC.
Interpol described the operation as a “major blow” to the Nigerian crime network but also warned of Black Axe’s extensive global reach and advanced technological capabilities, identifying it as a major international threat. Operation Jackal III resulted in the seizure of $3 million in illegal assets and the freezing of over 700 bank accounts.
Tomonobu Kaya, a senior official at Interpol’s Financial Crime and Anti-Corruption Centre, highlighted the role of financial technology and cryptocurrency in facilitating cybercrime. He stated, “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.”
Black Axe is known for its involvement in trafficking, prostitution, and murder worldwide, with cybercrime being its largest revenue source. Many of its members are educated professionals recruited during their university years.
Interpol’s 2022 report stated, “Black Axe and similar groups are responsible for the majority of the world’s cyber-enabled financial fraud as well as many other serious crimes.” Several “Jackal” operations have been conducted since 2022, leading to multiple arrests and the seizure of electronic devices. In 2017, Canadian authorities dismantled a Black Axe-related money-laundering scheme worth over $5 billion (£3.8 billion).
To combat these sophisticated criminal operations, Interpol has launched the Global Rapid Intervention of Payments system, allowing member countries to freeze bank accounts swiftly. This system was used to stop a $40 million scam targeting a Singaporean business in July 2024.
Kaya emphasized, “We need to have data and to collate our findings from these countries to help build a picture of their modus operandi. If we can gather this data, we can take action.”
Dr. Oluwole Ojewale from the Institute for Security Studies criticized the government’s lax approach to criminal groups like Black Axe and accused politicians of using these syndicates for personal gain. He said, “The general failure of governance in the country has put pressure on people to be initiated (into the Black Axe). It is the politicians who are arming these boys.”
Ojewale argued that prevention should be the focus rather than solely relying on operations against criminal groups.
In response to the growing cybercrime issue, President Bola Tinubu pledged in February 2024 to bolster the Economic and Financial Crimes Commission’s capacity to tackle digital offenses, criticizing the “mislabelling and blanket stereotyping” of Nigeria as a hotspot for cybercrime. The Nigerian Senate also expressed concerns in November 2023 over an annual $500 million loss to cybercrime, warning that inadequate funding of the national cybersecurity program could undermine digital economy gains.
The report also highlighted that Interpol’s Jackal Operations began in Ireland. In 2020, the Garda National Economic Crime Bureau identified 1,000 individuals linked to Black Axe and arrested several members, exposing a broader network. Detective Superintendent Michael Cryan noted that Ireland had seen a surge in money laundering linked to Black Axe’s activities, stating, “The amount of money being laundered through Ireland was astronomical… Bank robberies are now done with laptops – they are far more sophisticated.”
Cryan estimated that €200 million ($220 million; £170 million) had been stolen online in Ireland over the past five years, representing only 20% of reported cyber-crimes. More than €1 million in crypto-assets was also seized during one operation.
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Image credit: BBC