Interpol has launched a significant crackdown on one of West Africa’s most notorious criminal networks, Black Axe, with over 300 individuals arrested in a series of covert operations spanning 21 countries.
The operation, dubbed “Operation Jackal III,” was executed between April and July 2024 and represents a major blow to the cybercrime syndicate known for its global reach and technological prowess.
The operation targeted Black Axe and affiliated groups, who have been implicated in some of the world’s most sophisticated cyber-enabled financial frauds. According to BBC reports, Operation Jackal III led to 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 these crimes. “These criminal syndicates are early adopters of new technologies, making it easier to move money illicitly around the globe,” Kaya said.
The Black Axe network is involved in various criminal activities, including trafficking and violence, but cybercrime is their primary revenue source. Many of its members are well-educated and were recruited during their academic years. Interpol’s 2022 report noted that Black Axe is responsible for a significant portion of global cyber-enabled financial fraud.
Operation Jackal III follows previous similar operations that have also targeted Black Axe and its affiliates. Notably, Canadian authorities dismantled a $5 billion money-laundering scheme linked to the group in 2017.
To combat these sophisticated operations, Interpol has introduced the Global Rapid Intervention of Payments system, which allows member countries to freeze bank accounts swiftly. This system was recently used to halt a $40 million scam targeting a Singaporean business.
Dr. Oluwole Ojewale, West Africa Regional Coordinator from the Institute for Security Studies, criticized the Nigerian government for its perceived laxity in addressing such criminal networks. He claimed that political figures have contributed to the rise of these groups by providing them with resources for illegal activities.
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In response to the growing threat, Nigerian President Bola Tinubu pledged in February 2024 to bolster the Economic and Financial Crimes Commission’s capabilities to combat digital offenses. The Nigerian Senate has also expressed concerns over an annual $500 million loss due to cybercrime and called for better funding of the national cybersecurity program.
Interpol’s Jackal Operations originated in Ireland in 2020, where authorities first identified 1,000 individuals linked to Black Axe. The operation revealed a vast network engaged in extensive money laundering, with significant amounts stolen online.
As the fight against cybercrime continues, the crackdown on Black Axe marks a critical step in addressing the global challenge of sophisticated criminal operations.
