Europol Arrests 34 Black Axe Members in Spain Over 5.9M Fraud and Organized Crime

""The criminal network is known for its involvement in a wide range of criminal activities, including cyber-enabled fraud, drug trafficking, human trafficking and prostitution, kidnapping, armed robbery and fraudulent spiritual practices," Europol said in a statement. It's estimated that the criminal network is responsible for fraud resulting in damages exceeding €5.93 million ($6.9 million). In addition to the arrests, authorities have frozen €119,352 ($138,935) in bank accounts and seized €66,403 ($77,290) in cash during house searches."

"Black Axe is assessed to be a hierarchical criminal group that had its origins in Nigeria in 1977 before spreading to dozens of countries across the world. The organization is said to have about 30,000 registered members, and other affiliates such as money mules and facilitators. In a report published in late 2022, INTERPOL announced the arrests of 75 individuals associated with the syndicate for defrauding victims of millions as part of a law enforcement effort codenamed Operation Jackal."

"The "violent mafia-style gang" has been attributed to a laundry list of cyber-enabled activities, including business email compromise schemes, romance scams, inheritance scams, credit card fraud, tax fraud, advance payment scams, and money laundering, that facilitate financial fraud. In July 2024, INTERPOL said it had confiscated more than $5 million in assets, cryptocurrencies, and luxury items in two subsequent operations. These efforts also led to over 400 arrests and the identification of thousands of additional suspects."

Spanish National Police, the Bavarian State Criminal Police Office and Europol arrested 34 alleged members of the Black Axe syndicate across Seville, Madrid, Málaga and Barcelona. Authorities froze €119,352 and seized €66,403 in cash during searches. The network is linked to cyber-enabled fraud, drug trafficking, human trafficking, prostitution, kidnapping, armed robbery and fraudulent spiritual practices, and is blamed for over €5.93 million in fraud losses. Black Axe originated in Nigeria in 1977 and reportedly has about 30,000 registered members plus affiliates. Previous INTERPOL operations led to hundreds of arrests and millions in asset seizures.

Read at The Hacker News