Meta, the parent company of Facebook, Instagram, and WhatsApp, has launched a major operation against ‘Yahoo Boys,’ removing thousands of Nigerian accounts involved in financial sextortion scams….Click Here To Continue Reading>>

In a report titled “Combating Financial Sextortion Scams From Nigeria,” Meta revealed its efforts to remove a coordinated network of approximately 2,500 accounts. Financial sextortion is a serious crime that can have devastating consequences, according to Meta.

‘Yahoo Boys’ are online fraudsters who originated from the popularity of Yahoo email service in Nigeria in the 2000s. They are successors to 419 fraudsters who promised strangers wealth through advance fees in letters and emails.

Meta’s investigation revealed that financial sextortion is a borderless crime, driven by loosely organized cybercriminals known as Yahoo Boys who operate primarily from Nigeria.

Instagram Account Removals

Meta has removed 63,000 Instagram accounts in Nigeria linked to financial sextortion scams, including a network of 2,500 accounts tied to 20 individuals. These scammers targeted adult men in the US, using fake accounts to conceal their identities.

Meta utilized a combination of technical signals and expert investigations to identify and remove these accounts. Most of the scams were unsuccessful and primarily targeted adults, but some attempts were made to target minors. These accounts have been reported to the National Center for Missing and Exploited Children (NCMEC).

Facebook Assets Removal

In addition to Instagram accounts, Meta’s efforts led to the removal of approximately 7,200 assets in Nigeria, including:

* 1,300 Facebook accounts
* 200 Facebook pages
* 5,700 Facebook groups

These assets provided guidance on conducting scams, offered scripts and guides for scamming, and shared links to photo collections for fake accounts. Meta has implemented measures to automatically block attempts by these deleted groups to return.

Collaboration with Law Enforcement

Meta collaborates with law enforcement to investigate and prosecute these crimes. The company responds to valid legal requests for information and alerts authorities when it identifies individuals at risk of imminent harm.

Increased Scrutiny in Nigeria

Meta’s crackdown comes amid increased scrutiny over its operations in Nigeria. The Federal Competition and Consumer Protection Commission (FCCPC) has accused Meta of abusive and invasive practices on WhatsApp, demanding a $220 million fine. Meta intends to appeal this decision.

Ongoing Efforts against Cybercrime

Authorities and operators have intensified their efforts to combat cybercrime in Nigeria. The Economic and Financial Crimes Commission (EFCC) has secured 500 convictions in cybercrimes, while the International Criminal Police Organisation (INTERPOL) has dismantled a Nigerian network involved in money laundering and recruitment of money mules. These efforts have led to numerous arrests, asset seizures, and the dismantling of criminal networks worldwide.

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