EFCC Targets Global Cyber Fraud With $222K Asset Forfeiture From Foreign Nationals (Full List)

EFCC Targets Global Cyber Fraud With $222K Asset Forfeiture From Foreign Nationals (Full List)

The Economic and Financial Crimes Commission (EFCC) has successfully obtained an interim forfeiture order for digital assets valued at $222,729.86, which are suspected to be tied to fraudulent activities involving foreign nationals from China and the Philippines.…..READ MORE 

The order was granted by Justice Alexander Owoeye of the Federal High Court in Lagos following an ex-parte motion filed by EFCC counsel Zeenat Atiku.

The assets will be forfeited to the Federal Government unless parties come forward within 14 days to challenge the order. This action follows an investigation that uncovered a large-scale cyber fraud operation, with over 792 suspected cybercriminals arrested and extensive evidence of fraudulent activity, including cryptocurrency and dating scams.

The investigation revealed that the syndicate was financing its operations through a Nigerian-registered company, Genting International Co. Limited (GICL), and laundering funds through cryptocurrency transactions. Additionally, the EFCC arraigned 58 foreign nationals, including the Chinese and Filipino suspects, on charges ranging from cybercrimes to identity theft. The case has been adjourned for trial, with the suspects facing serious legal repercussions.