Interpol targets Black Axe’s illicit financial web in latest international sting

The multi-country sting targeted Black Axe financial networks, seizing millions in assets and uncovering Crime-as-a-Service infrastructure across four continents.

An international law enforcement operation carried out against organized crime groups in West Africa resulted in 58 arrests and identified 263 suspects, Interpol announced Tuesday.

The operation, known as Operation Jackal IV, aimed to disrupt money laundering, locate high-value targets, seize assets and support prosecutions tied to various Africa-based criminal groups, including Black Axe. 

Black Axe is a highly structured, hierarchical group that generates billions of dollars in criminal proceeds annually from many small-scale operations spanning dozens of countries. The group’s leaders are Nigerian nationals, according to a Europol release issued earlier this year. In January, European law enforcement arrested dozens of the group’s members for adversary-in-the-middle scams such as business email compromise, money laundering and vehicle trafficking. 

“Operation Jackal IV demonstrates the power of international cooperation,” Tomonobu Kaya, director of Interpol’s Financial Crime and Anti-Corruption Centre, said in a release. “By following illicit financial flows across borders, we are attacking the very lifeblood of organized crime and making it increasingly difficult for criminal networks to profit from their activities.”

The agency said it will continue to work to unravel the full details of each case, but detailed several preliminary discoveries from partner organizations Tuesday.

Romanian authorities broke up a group that ran an investment scam from a call center promising high returns in stocks or cryptocurrencies. Victim payments were routed to electronic wallets controlled by the operators, with police estimating the full value at 143 million euros (approximately $166 million). They arrested 11 people and seized about 330,000 euros ($379,000) in cash and cryptocurrency, six properties and several luxury watches.

In South Africa, where 39 of the 58 arrests occurred, police raided seven sites in Johannesburg tied to a syndicate that targeted retirees in English-speaking countries with romance and investment scams. Investigators seized $2.67 million and blocked 257 bank accounts.

Authorities in Argentina identified 196 people linked to a Crime-as-a-Service network suspected of supplying website domains and laundering support to West African groups, making 17 arrests. 

In Italy, one person was identified in connection with a pan-European laundering network built on shell companies, remittance services and cash withdrawals. A single account moved 845,000 euros ($736,000) through 560 transactions.

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