Europol Disrupts Black Axe Cybercrime in Spain

Europol Raids Disrupt Black Axe Cybercrime Ring in Spain

Key Findings:

• International law enforcement agencies have dealt a major blow to the criminal network known as Black Axe.

• 34 people were arrested across Spain, with the majority in Seville.

• Black Axe is a large, organized criminal group originating in West Africa, with an estimated 30,000 members worldwide.

• The group is known for online fraud schemes, including romance scams, phishing, and business email compromise (BEC).

• The group targeted vulnerable individuals in Spain, recruiting them as money mules to help launder stolen funds.

• The financial impact of Black Axe's activities in Spain alone is estimated at nearly €6 million in losses.

• Europol's assistance in intelligence sharing and cross-border coordination was crucial to the success of the operation.

Background

Black Axe is not a new group, but has grown into a massive criminal organization with a presence in dozens of countries. Originating in West Africa, particularly Nigeria, Black Axe is known for being highly organized and structured, operating like a "dark version of a big corporation." While they are involved in various serious crimes, including human trafficking and armed robbery, they have become especially notorious for their online fraud schemes.

Black Axe's Modus Operandi

According to Europol, Black Axe uses a variety of tactics to steal money, including romance scams, where they trick victims into thinking they are in a relationship to get money, phishing scams to steal login details, and business email compromise (BEC) to hack into company emails and redirect payments.

Targeting the Vulnerable

Investigators found that Black Axe's strategy in Spain was to target individuals in poor neighborhoods with high unemployment, recruiting them as money mules to help launder the proceeds of their crimes. The group's core members included ten Nigerian nationals, while the money mules were mostly local Spanish residents.

Massive Financial Impacts

The financial toll of Black Axe's activities is staggering. Authorities believe the group makes billions of euros globally every year. In the specific Spanish case, the fraud caused nearly €6 million in losses. During the raids, police were able to freeze over €119,352 in bank accounts and seize more than €66,403 in cash.

Europol's Role

Europol's involvement was crucial in mapping out the group's operations and enabling cross-border cooperation. By sharing intelligence and working closely with local police, Europol helped address the challenges posed by the group's dispersed small-scale crimes and their efforts to hide behind "ordinary" local offenses.

Ongoing Efforts

While these arrests represent a significant disruption to Black Axe's European activities, the organization as a whole has not been dismantled, as they operate in dozens of countries. However, this operation demonstrates that law enforcement is finding ways to catch up with cybercriminals hiding behind the anonymity of the internet, even when their crimes are spread across multiple jurisdictions.

Sources

• https://hackread.com/europol-black-axe-cybercrime-ring-spain/

• https://inspain.news/black-axe-arrests-spain-34-held-in-nationwide-raids/