Between April and July 2024, Operation Jackal III saw officers conduct raids in 21 countries, resulting in 300 arrests tied to Black Axe and related groups.
Coordinated by Interpol, the operation was described as a significant setback for the Nigerian crime network.
However, Interpol cautioned that due to Black Axe’s global reach and advanced technology, it continues to pose a major international threat.
In a well-known case, Canadian authorities dismantled a Black Axe-linked money-laundering scheme valued at over $5bn (£3.8bn) in 2017.
“They are highly organised and structured,” Interpol’s Financial Crime and Anti-Corruption Centre senior official, Tomonobu Kaya, told the BBC.
A 2022 Interpol report noted that “Black Axe and similar groups are behind the majority of global cyber-enabled financial fraud and numerous other serious crimes.”
Kaya emphasised that advancements in money-transfer technology and cryptocurrency have benefited these syndicates, known for large-scale online scams.
“These criminal groups quickly adopt new technologies Fintech innovations have made it far easier to move money illegally across borders,” he stated.
Operation Jackal III, years in the making, resulted in the seizure of $3 million in illegal assets and the freezing of over 700 bank accounts.
Black Axe members, often university-educated and recruited during their schooling, are part of a secretive criminal network involved in trafficking, prostitution, and murder globally.
Cybercrime is the group’s main revenue source, targeting individuals and businesses. Since 2022, multiple “Jackal” operations have led to arrests and seizures of gang members’ devices, helping Interpol build a vast intelligence database shared across its 196 member countries.
“We need to collect and analyze data from these countries to better understand their modus operandi,” stated Mr. Kaya.
Some experts argue that efforts to combat crime syndicates like Black Axe should focus more on prevention rather than arrests.
“The emphasis must actually be on prevention, not just operations against these criminal groups,” said Dr. Oluwole Ojewale, West Africa Regional Coordinator at the Institute for Security Studies.
Nigeria, Africa’s most populous nation and main recruiting ground for Black Axe, faces deep-rooted poverty, with 87 million people living below the poverty line, according to the World Bank.
Recent weeks have also seen widespread anti-corruption protests across the country.
Interpol reported that it is conducting training exercises with key Nigerian officials to tackle Black Axe, but corruption and alleged collusion between the group and local authorities remain significant challenges.
“It is the politicians who are actually arming these boys,” said Dr. Ojewale. He pointed out that poor governance has driven more people to join Black Axe.
Interpol’s Jackal Operations originated in Ireland, where raids by the Garda National Economic Crime Bureau (GNECB) in 2020 led to the arrest of several Black Axe members and uncovered a far-reaching network.
“They were very under the radar, very low-key,” said Michael Cryan, detective superintendent at the GNECB.
“The amount of money being laundered through Ireland was astronomical.”
Irish police identified 1,000 individuals linked to Black Axe in Ireland and have arrested hundreds for fraud and cyber-crime.
“Bank robberies are now done with laptops – they’re far more sophisticated,” stated Detective Superintendent Cryan.
He estimated that €200m ($220m; £170m) has been stolen online in Ireland over the past five years, although only 20% of cyber-crimes are reported.
“This is not typical or ordinary crime, People who make decisions need to know how serious this is,” he added.
In November 2023, Irish police found that cryptocurrency is increasingly being used in Black Axe’s money-laundering operations.
During a recent operation, authorities seized over €1m in cryptocurrency. Interpol has introduced the Global Rapid Intervention of Payments (I-GRIP) system, allowing for the swift freezing of international bank accounts.
This technology was pivotal in stopping a $40m scam against a Singaporean business last month.
According to Mr. Kaya of Interpol, such advancements will hinder criminals’ ability to transfer money across borders without detection.
Global efforts are focused on collecting and sharing intelligence on Black Axe and other West African criminal groups.
“If we can gather this data, we can take action,” he noted.