The International Criminal Police Organisation (Interpol) has arrested over 300 individuals linked to the notorious Black Axe criminal network and its affiliates in a major crackdown. This operation, dubbed "Operation Jackal III," took place across 21 countries between April and July 2024.
Interpol's extensive covert operation targeted one of West Africa’s most feared cybercrime syndicates, responsible for some of the world's most significant cyber-enabled financial frauds and other serious crimes. The operation has been described as a “major blow” to the Black Axe network, highlighting its global reach and technological sophistication, which pose a considerable threat worldwide.
Operation Jackal III resulted in the seizure of $3 million in illegal assets and the freezing of more than 700 bank accounts. The operation reflects the advanced nature of Black Axe’s operations, which leverage financial technology and cryptocurrency to facilitate multi-million dollar online scams.
Tomonobu Kaya, a senior official at Interpol’s Financial Crime and Anti-Corruption Centre, emphasized the role of financial technology in enabling these cybercrime syndicates. “They are very organised and very structured,” Kaya noted. “These criminal syndicates are early adopters of new technologies, and many fintech developments make it easier to move money illicitly around the world.”
Black Axe is known for its involvement in a range of criminal activities, including trafficking, prostitution, and violent crimes. However, cybercrime remains its most lucrative revenue stream. Many of the group's members are university-educated and were recruited during their academic years.
The operation follows previous Jackal operations that have led to numerous arrests and seizures. For example, in 2017, Canadian authorities dismantled a Black Axe-linked money-laundering scheme worth over $5 billion (£3.8 billion).
Interpol’s efforts to combat sophisticated criminal networks also include the launch of the Global Rapid Intervention of Payments system. This system allows authorities in Interpol’s 196 member countries to freeze bank accounts with unprecedented speed. It was used to stop a $40 million scam targeting a Singaporean business in July 2024.
The success of Operation Jackal III underscores the ongoing global effort to tackle cybercrime and the need for continued vigilance against technologically advanced criminal enterprises.
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