Nigeria’s Economic and Financial Crimes Commission (EFCC) has announced the arrest of 792 suspects in a large-scale operation that targeted an extensive fraud ring, centered in a luxurious building in Lagos. The suspects were allegedly involved in an elaborate scheme that deceived victims through fake cryptocurrency investment offers, after luring them with fabricated romantic advances.
The EFCC’s spokesperson, Wilson Uwujaren, confirmed that the suspects were detained during a raid on December 10 at the Big Leaf Building, a seven-storey complex in Nigeria’s commercial capital. Among those arrested, 148 were Chinese nationals, and 40 were from the Philippines. Authorities believe the building acted as a key operations hub for fraudsters targeting individuals across the globe.
“The suspects were operating a call center from within this luxury building, reaching out to potential victims mainly from North America and Europe,” Uwujaren explained. He stated that the fraudsters used popular social media platforms such as WhatsApp, Instagram, and others to establish connections with targets. They would begin by building online relationships with victims, using romantic enticements or offering supposedly high-return cryptocurrency investments.
Once the fraudsters had gained their victims’ trust, they would pressure them into transferring significant sums of money for fake cryptocurrency schemes, as well as non-existent investment projects. The EFCC stated that the victims were largely individuals from the United States, Canada, Mexico, and several European nations, who were contacted and manipulated into transferring money for these scams.
Uwujaren also revealed that Nigerian accomplices were recruited by international crime syndicates to help in locating potential victims online. “The Nigerian operatives would initially prospect for victims through phishing attacks, mostly targeting individuals from the Americas and Europe,” he said. “Once the victims’ trust was secured, the foreign fraudsters took over the actual deception and financial manipulation.”
In the aftermath of the raid, agents seized a range of equipment, including computers, mobile phones, and vehicles. Additionally, the EFCC is working with international law enforcement agencies to investigate possible connections to broader organized crime networks.
“We are committed to tracking down and dismantling these international fraud rings,” Uwujaren affirmed. “Our collaboration with global partners will help ensure that those responsible for defrauding people across borders face justice.”
This operation is part of a wider crackdown on cybercrime and financial fraud in Nigeria, where the EFCC has recently stepped up efforts to combat the growing trend of online scams, particularly those involving cryptocurrency. These types of fraud schemes have skyrocketed in recent years, as cybercriminals exploit the anonymity of digital platforms to prey on vulnerable individuals.
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