Uppsala Security Joins INTERPOL’s and AFRIPOL’s Operation Serengeti, Aiding in Global Efforts Against Financial Fraud
[Zimbabwe, 27th Nov 2024] — Uppsala Security, a leading blockchain security and threat intelligence provider, continues its collaboration with INTERPOL and AFRIPOL to combat crypto-enabled financial crimes, contributing to the success of Operation Serengeti (2 September — 31 October). This global initiative, coordinated by INTERPOL and AFRIPOL, targeted criminals behind ransomware, business email compromise (BEC), digital extortion and online scams — all identified as prominent threats in the 2024 Africa Cyber Threat Assessment Report. The operation spanned across 19 countries and led to the arrest of 1,006 suspects, with cases linked to nearly USD 193 million in financial losses worldwide.
These developments in the cybersecurity landscape strengthens the collaborative efforts between international law enforcement agencies, national authorities, and private sector partners. Uppsala Security, a state-of-the-art provider of award-winning security tools and services for Crypto AML/CTF, Transaction Risk Management, Regulatory Compliance and Transaction Tracking, has once again demonstrated its commitment to combating cyber threats by participating in a groundbreaking collaboration with esteemed organizations such as INTERPOL, AFRIPOL through projects like GLACY-e (Global Action on Cybercrime Extended), AFJOC (African Joint Operation against Cybercrime), ISPA (INTERPOL Support Program For African Union in relation to AFRIPOL) and others during the Africa’s Operation Serengeti (2 September — 31 October).
Uppsala Security’s role in Operation Serengeti
Operation Serengeti demonstrated the effectiveness of international collaboration in tackling transnational cybercrime. Uppsala Security played a pivotal role in analyzing blockchain-based transactions and providing actionable intelligence, which helped trace funds and identify criminal networks.
- In Kenya, Uppsala Security assisted the officers to crack a case of online credit card fraud linked to losses of USD 8.6 million. The funds, stolen through fraudulent scripts run after altering the banking system’s security protocol, were promptly redistributed by the group via SWIFT to companies in the United Arab Emirates, Nigeria and China and subsequently, to digital asset institutions offering trading and financial services regulated in multiple jurisdictions. Nearly two dozen arrests have been made so far.
- In Cameroon, the report and intel provided by Uppsala Security led the authorities to arrest a group suspected of trafficking victims from seven different countries to run a multi-level marketing scam. After paying a “membership fee”, victims were promised employment opportunities or training but once in Cameroon, they were held captive and obliged to lure others into the scheme to gain their freedom. Initial estimates show that the group had already pocketed at least USD 150,000 in fees.
- Uppsala Security intelligence report assisted the Angolan investigators in their operations to dismantle an international criminal group running a virtual casino in Luanda. The group, which primarily targeted Brazilian and Nigerian gamblers, defrauded hundreds through its online platform, offering a percentage of winnings to members who recruited new subscribers. Some 150 arrests were made, with officers seizing 200 computers and more than 100 mobile phones.
At the heart of Uppsala Security’s contribution to the Operation Serengeti were its proprietary blockchain analytical tools, Crypto Analysis Transaction Visualization (CATV) and Crypto Analysis Risk Assessment (CARA). These tools are specifically designed to tackle a myriad of malicious situations involving Web3 based digital assets. Uppsala Security’s assistance supported investigations related to cryptocurrency-driven offenses, focusing on transaction tracking and risk assessments.
A recent report released by INTERPOL following the successful conclusion of the Operation Serengeti, contained the following information:
- 134k malicious networks were taken down
- 35,000 victims linked to USD 193 million financial losses worldwide
- 1,006 arrests done
- 65 cyber activity reports disseminated
- More than 6,700 pieces of information exchanged through INTERPOL
