The Economic and Financial Crimes Commission has executed its largest single-day crackdown on cryptocurrency and romance scam syndicates, apprehending 792 suspects in Lagos.
The arrest include 158 foreigners, all picked up in a Lagos building.
“This is the biggest arrest of its kind in a single operation,” EFCC spokesperson declared at a press briefing on Monday.
The arrests were made at a seven-storey building located on Victoria Island, Lagos.
The suspects include 114 Chinese nationals, 40 Filipinos, two Kazakhs, one Pakistani, and one Indonesian.
According to Uwujaren, the foreign nationals were allegedly using the building as a training hub to teach Nigerians the art of orchestrating romance and cryptocurrency scams.
“The foreigners were creating fake profiles for their Nigerian accomplices to engage in romance and investment scams,” Uwujaren disclosed.
The EFCC said all seven floors of the building were equipped with advanced desktop computers used for fraudulent activities.
Investigators also recovered over 500 SIM cards from Nigerian telecommunications operators.
Phishing for victims globally, the EFCC spokesman detailed how the operation worked, describing it as a highly organised syndicate.
“The Nigerian accomplices were recruited by foreign kingpins to prospect for victims online through phishing, targeting mostly Americans, Canadians, Mexicans, and Europeans,” he said.
The accomplices, armed with computers and mobile devices, were assigned fake profiles and given access to foreign communication lines.
These lines, connected to platforms like WhatsApp, Instagram, and Telegram, enabled the fraudsters to engage victims in romantic conversations and elaborate investment schemes.
“They are provided with WhatsApp accounts linked to foreign numbers, particularly from Germany and Italy,” the EFCC spokesman added.
The ultimate goal was to lure victims to a fake online investment platform, www.yooto.com, where activation fees to create an account began at $35.
“Their job was to trick victims into romantic and business discussions to convince them to shop on the platform,” Uwujaren explained.
The suspects are currently in custody under a valid remand warrant, according to Uwujaren. The EFCC has assured the public that the accused will face prosecution soon.
This operation underscores the EFCC’s commitment to tackling cybercrime in Nigeria, marking a significant step in its fight against financial fraud and international scams.