INTERPOL has arrested over 70 suspected members of the ‘Black Axe’ cybercrime syndicate, with two of them believed to be responsible for $1.8 million financial fraud. The suspects were arrested as part of ‘Operation Jackal,’ an international law enforcement operation in South Africa.
Black Axe is considered one of the world’s most far-reaching and dangerous crime syndicates. INTERPOL stated, “Black Axe and similar groups are responsible for the majority of the world's cyber-enabled financial fraud as well as many other serious crimes, according to evidence analyzed by INTERPOL’s Financial Crime and Anti-Corruption Centre (IFCACC) and national law enforcement.”
The financial gains are reflected in the assets seized by law enforcement during the raids, including tens of thousands of dollars in cash, expensive cars, luxury items, and 12,000 mobile SIM cards. By analyzing the seized evidence, the police could freeze €1,200,000 in the suspect’' bank accounts, identify and arrest another 75 individuals, and conduct 49 targeted property searches.
The arrests yielded 13 analytical reports, seven INTERPOL “purple notices” to detail the modus operandi of the criminals, and six INTERPOL “red notices” targeting internationally-wanted fugitives. Last month, INTERPOL dismantled a sextortion ring operating from Singapore and Hong Kong, arresting 12 suspects for further investigation.
