Interpol announced on Tuesday that a global operation targeting West African organized crime groups across five continents resulted in the arrest of 300 individuals, the seizure of $3 million, and the blocking of 720 bank accounts.
In a statement, Interpol detailed that Operation Jackal III, conducted from April 10 to July 3 across 21 countries, targeted online financial fraud and the West African syndicates responsible for it.
“The volume of financial fraud originating from West Africa is alarming and on the rise,” stated Isaac Oginni, director of Interpol’s Financial Crime and Anti-Corruption Centre.
“The results of this operation highlight the critical need for international law enforcement collaboration to combat these widespread criminal networks.”
The the groups targeted was Black Axe, one of West Africa’s most notorious criminal networks.
The agency noted that Black Axe is involved in cyber fraud, human trafficking, drug smuggling, and is responsible for violent crimes both in Africa and worldwide.
According to the agency, Black Axe utilised money mules to create bank accounts around the world and is now being investigated in over 40 countries for associated money laundering activities.
Among the suspects are nationals from Argentina, Colombia, Nigeria, and Venezuela.
After a five-year investigation in Argentina, law enforcement took action against Black Axe, seizing $1.2 million in high-quality counterfeit banknotes.
Authorities arrested 72 suspects and froze around 100 bank accounts.
As a body comprising 196 member countries, Interpol celebrated its 100th anniversary last year and assists national police forces in enhancing communication and tracking suspects.
Its initiatives cover a range of issues, including counterterrorism, financial offences, child exploitation, cybercrime, and organised crime.
The largest, if not the best-funded, police organisation globally has been facing new challenges, including a rising caseload of cybercrime and child s3xual abuse, as well as growing divisions among its member nations.
Last year, Interpol’s total budget was roughly 176 million euros (about $188 million), whereas the European Union’s police agency, Europol, had a budget exceeding 200 million euros, and the FBI in the United States operated with approximately $11 billion.