The Economic and Financial Crimes Commission (EFCC) has dismantled a major international cybercrime syndicate, arresting 192 foreign nationals involved in sophisticated cryptocurrency investment and romance scams.
The sweeping raid targeted a seven-storey building known as the Big Leaf Building, located at No. 7, Oyin Jolayemi Street, in Victoria Island, Lagos. The arrested suspects include 148 Chinese nationals, 40 Filipinos, two Kazakhs, one Pakistani, and one Indonesian.
Months of surveillance and intelligence gathering led to the surprise operation, which exposed a complex criminal network operating under the guise of a legitimate corporate office. The facility was revealed to be a sophisticated training ground for executing elaborate online fraud schemes.
Investigators discovered the building was strategically set up to train Nigerian accomplices in the art of digital fraud. The criminals primarily targeted victims in the United States, Canada, Mexico, and various European countries through sophisticated phishing techniques.
The crime scene was a technological hub of criminal activity. The fifth floor alone contained 500 SIM cards from local telecom providers, indicating the scale of the operation. Equipped with high-end desktop computers, the facility served as a nerve centre for coordinating international fraud schemes.
Nigerian operatives, recruited and equipped with desktop computers and mobile devices, created fake profiles on platforms like WhatsApp, Instagram, and Telegram. These accomplices would engage victims by posing as business professionals or romantic partners, building trust before initiating their fraud.
The scam centred around a fake online investment platform, www.yooto.com, where victims were lured into paying activation fees starting at $35 to open accounts. The foreign nationals used Nigerian identities to add credibility to their fraudulent operations, making their schemes appear more legitimate.
EFCC officials described the operation as a significant blow to international cybercrime networks, highlighting the commission’s commitment to combating sophisticated digital fraud schemes that target vulnerable individuals across the globe.
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