News Update
THE Economic and Financial Crimes Commission (EFCC) has announced the arrest of 792 suspects involved in cryptocurrency investment fraud and romance scams.
This operation marks a significant breakthrough in the commission’s efforts to combat cybercrime.
Speaking at a press briefing in Lagos on Monday, December 16, 2024, EFCC Director of Public Affairs, Wilson Uwujaren, revealed that the suspects were apprehended on December 10, 2024, in a surprise raid on a seven-story building, known as the Big Leaf Building, located at No. 7, Oyin Jolayemi Street, Victoria Island, Lagos
Uwujaren explained that the operation followed months of surveillance and actionable intelligence, noting that among the arrested suspects are 148 Chinese nationals, 40 Filipinos, two Kharzartans, one Pakistani, and one Indonesian.”
Investigations revealed that the building, which appeared to be a legitimate corporate headquarters, was a hub for training Nigerian accomplices in executing online scams. These scams included romance fraud and investment fraud using stolen or fabricated identities of Nigerians.
Uwujaren added, “The facility was equipped with high-end desktop computers on all floors. Investigators recovered 500 SIM cards from local telecommunications providers on the fifth floor alone, which were purchased for fraudulent activities.”
The Nigerian accomplices were recruited and trained by foreign kingpins to target victims online, primarily from the United States, Canada, Mexico, and Europe.
Using fake profiles and phishing techniques, they engaged victims in romantic conversations or fictitious business and investment discussions.
According to Uwujaren, recruitment focused on young Nigerians proficient in computer use, particularly typing skills. Successful candidates were provided with computers, mobile devices, and a two-week induction on impersonating foreign females to lure victims.
He said once the victims were convinced to invest, the foreign operators would take over, often cutting off their Nigerian counterparts to conceal the transaction details
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Recovered items include desktop computers, mobile phones, laptops, and vehicles. The EFCC is working with international partners to establish the full extent of the scam and any connections to global fraud networks.
Uwujaren emphasized that the EFCC remains committed to rooting out cybercrime and ensuring Nigeria is no longer a base for international fraud.
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