In a major operation, Interpol has arrested over 300 individuals linked to the notorious Black Axe criminal network and its affiliates, dealing a significant blow to the group’s global operations.
The operation, codenamed “Jackal III,” was carried out across 21 countries between April and July 2024, highlighting the network’s worldwide reach and technological sophistication. Interpol warned that Black Axe poses a global threat, with its members involved in cyber-enabled financial fraud, trafficking, prostitution, and killing operations.
Tomonobu Kaya, a senior official at Interpol’s Financial Crime and Anti-Corruption Centre, emphasized the role of financial technology and cryptocurrency in facilitating cybercrime. “They are very organized 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.”
The operation resulted in the seizure of $3 million in illegal assets and the freezing of over 700 bank accounts. Interpol’s Global Rapid Intervention of Payments system enabled authorities to halt a $40m scam targeting a Singaporean business in July 2024.
Dr. Oluwole Ojewale, West Africa Regional Coordinator from the Institute for Security Studies, criticized the government’s laxity in addressing criminal groups like Black Axe. He alleged that politicians use these groups for their gain, providing them with tools to defraud innocent people.
Ojewale emphasized the need for prevention rather than just operations against criminal groups. President Bola Tinubu has pledged increased support for the Economic and Financial Crimes Commission to tackle digital offenses.
Interpol’s operations highlight the importance of global cooperation and capacity building in addressing sophisticated criminal networks like Black Axe. The organization’s efforts aim to disrupt and dismantle these groups, ensuring a safer digital environment.
