African law enforcement agencies arrested 651 suspects and recovered over $4.3 million in a joint operation targeting investment fraud, mobile money scams, and fake loan applications.

As INTERPOL revealed on Wednesday, Operation Red Card 2.0 identified 1,247 victims between December 8 and January 30 while targeting cybercrime operations linked to over $45 million in financial losses.

Authorities across 16 countries also seized 2,341 devices and took down 1,442 malicious websites, domains, and servers during this joint action coordinated by the African Joint Operation against Cybercrime (AFJOC).

In Nigeria, police officers dismantled an investment fraud ring that was recruiting young people to run phishing, identity theft, and fake investment schemes, taking down over 1,000 fraudulent social media accounts in the process. They also arrested six members of a Nigerian cybercrime gang that used stolen employee credentials to breach a major telecom provider.

Kenyan investigators also apprehended 27 suspects while investigating fraud networks that used social media and messaging platforms to lure victims into fake investment schemes.

In Côte d'Ivoire, 58 suspects were arrested as part of a crackdown on predatory mobile loan apps that targeted victims with hidden fees and abusive debt-collection practices.

"These organized cybercriminal syndicates inflict devastating financial and psychological harm on individuals, businesses and entire communities with their false promises," said Neal Jetton, the head of INTERPOL's Cybercrime Directorate.

"Operation Red Card highlights the importance of collaboration when combatting transnational cybercrime. I encourage all victims of cybercrime to reach out to law enforcement for help."

One year ago, African law enforcement arrested another 306 suspects in the first stage of this INTERPOL-led operation targeting cross-border cybercriminal networks.

This is the latest INTERPOL operation targeting African cybercrime, with thousands of arrests and multiple multimillion-dollar operations disrupted or dismantled in recent years, following Operation Serengeti and Operation Africa Cyber Surge.