Nigeria busts crypto romance-fraud hub targeting North America and Europe

Nigeria's Economic and financial crimes commission (EFCC) busted a romance-crypto fraud hub in Lagos last week, targeting people in North America and Europe.

A total of 792 individuals, including 148 Chinese and 40 Filipino nationals, were arrested in the raid conducted at the Big leaf building, a seven-storey luxury complex in Lagos. The building was reportedly a hub for fraudsters conducting online scams targeting people from North America and Europe.

According to Wilson Uwujaren, the spokesperson for the EFCC, the fraudsters employed popular social media and messaging platforms like WhatsApp and Instagram to ensnare their victims. The initial contact often involved establishing a fake romantic relationship or presenting enticing investment opportunities in cryptocurrency. Once the victims were engaged, they faced pressure to send money, ostensibly to support these fraudulent schemes.

Uwujaren said the Nigerian operatives were reportedly recruited by foreign crime syndicates. The Nigerians were tasked with identifying and luring potential victims online, primarily from the United States, Canada, Mexico, and various European nations. After building trust with the victims, they would transfer the communication to their foreign counterparts, who executed the fraud.

During the operation, the EFCC seized evidence, including mobile phones, computers, and vehicles.

Uwujaren emphasised that the EFCC is working closely with international partners to trace the links to organised crime networks.