The Economic and Financial Crimes Commission (EFCC) has executed its largest single-day crackdown on cryptocurrency and romance scam networks, arresting 792 suspects, including 193 foreign nationals, in Lagos.
Wilson Uwujaren, EFCC’s Director of Public Affairs, disclosed this during a press briefing on Monday, describing the operation as a culmination of months of surveillance and intelligence gathering.
The arrests took place on Tuesday, December 10, 2024, at a seven-storey building, known as the Big Leaf Building, located at 7 Oyin Jolayemi Street, Victoria Island, Lagos.
Breakdown of Suspects
Among the 193 foreigners arrested were:
- 148 Chinese nationals
- 40 Filipinos
- 2 Kazakhs
- 1 Pakistani
- 1 Indonesian
Modus Operandi
Uwujaren revealed that the foreign syndicate used the high-end facility to train Nigerian accomplices on how to perpetrate online romance and investment scams targeting victims, primarily in America, Canada, Mexico, and Europe.
Key findings include:
- 500 SIM cards recovered on a single floor of the building.
- Nigerian recruits were taught to create fake profiles, initiate romantic or investment conversations via WhatsApp, Instagram, and Telegram, and direct victims to a fraudulent online investment platform, www.yooto.com.
- Activation fees on the platform began at $35.
Recruitment and Operations
- Recruits were selected based on computer proficiency and typing skills.
- Successful candidates underwent a two-week training to impersonate foreign females in scam chats.
- Once initial contact was made, the foreign operators took over the scams, blocking the Nigerian recruits from further access.
- Payments to Nigerian accomplices were made in cash or through personal bank accounts, leaving no formal employment records.
Next Steps
Uwujaren stated that investigations are ongoing to determine the full extent of the scam, uncover international fraud networks, and identify any organized criminal collaborations.
The EFCC emphasized its commitment to dismantling cybercrime syndicates and urged Nigerians to remain vigilant against such fraudulent operations.
