75 alleged cybercriminals connected to Nigeria’s Black Axe cult have been detained by Interpol.

According to a statement made on Friday, 75 people thought to be connected to a Nigerian cybercriminal ring that stole millions from its victims were apprehended in a global investigation conducted by Interpol and involving 14 nations.

During the implementation of Operation Jackal, which took place from September 26 to September 30, police observed the opulent lifestyles and avarice of many of the suspects and conducted 49 searches, taking 12,000 SIM cards among other items.

Officers also seized other expensive items, including a house, three vehicles, and tens of thousands of dollars in cash.

Dont miss: In Rivers, two vigilantes are killed by suspected cultists

One of Nigeria’s most powerful criminal organizations, the Black Axe cells, as well as other gangs from West Africa, were the targets of the coordinated operation. In addition to the 75 people detained, police seized 1.2 million euros from many bank accounts.

Police in South Africa detained two men who are suspected of defrauding online users of at least US$1.8 million. Additionally, three alleged participants in this cybercrime network were detained in Italy.

According to Interpol’s Financial Crime and Anti-Corruption Center, Black Axe and related organizations are purportedly responsible for the majority of financial fraud and other significant crimes committed online around the world.

The gang is evolving into a “serious security concern internationally,” according to authorities.

Read: Chinese guy jailed for 5 years in Kwara for unlawful mining

The vast amount of assets that were confiscated during the operation also gave researchers new information about organized crime gangs that were engaged in financial cyber fraud.

According to Stephen Kavanagh, executive director of police services for Interpol, “illicit financial funds are the lifeblood of transnational organized crime, and we have seen how groups like Black Axe will channel money gained from online financial scams into other crime areas, such as drugs and human trafficking.”
It is believed that less than 1% of the $2 trillion in illicit monies that are annually laundered through the international banking system are caught and returned, according to the United Nations.

Over all other crimes, people are more likely to become victims of fraud or online crimes. Online scammers are unconcerned whether their victims lose their entire life savings. Thousands of people frequently lose money in a variety of scams carried out via email, dating apps, buying and selling, and investments.