In a recent global effort targeting West African organized crime groups worldwide, 300 individuals were arrested, $3 million was confiscated, and 720 bank accounts were frozen, according to Interpol. The operation, known as Jackal III, took place over three months in 21 countries with the goal of combating online financial fraud orchestrated by West African syndicates, the agency disclosed in a statement. Isaac Oginni, the head of Interpol’s Financial Crime and Anti-Corruption Centre, expressed concern over the escalating and concerning levels of financial fraud originating from West Africa.
Black Axe, a well-known criminal network in West Africa involved in cyber fraud, human trafficking, drug smuggling, and violent crimes globally, was among the organizations targeted in the operation. Black Axe utilized money mules to establish bank accounts internationally and is being investigated for money laundering in over 40 countries. The suspects apprehended hail from countries like Argentina, Colombia, Nigeria, and Venezuela.
In Argentina, law enforcement authorities cracked down on Black Axe following a lengthy five-year investigation, leading to the seizure of $1.2 million in top-quality counterfeit banknotes, the arrest of 72 individuals, and the freezing of approximately 100 bank accounts associated with the group.
Interpol, an organization with 196 member nations that marked its centenary last year, aids in facilitating communication among national police forces to track down suspects and criminals involved in various criminal activities like counterterrorism, financial crime, child pornography, cybercrime, and organized crime.
Despite facing new challenges such as an increasing cybercrime workload and cases of child exploitation, Interpol’s budget last year totaled around 176 million euros (about $188 million). This amount falls short compared to over 200 million euros allocated to Europol, the European Union’s police agency, and the massive budget of approximately $11 billion allotted to the FBI in the United States.
