Yahoo Boy Acting as Picker Arrested in Auchi Over $300,000 Fraud

• A suspected internet fraudster arrested in Auchi, Edo State, has been linked to a $300,000 money laundering scheme uncovered by the EFCC
• The suspect, who acted as a "picker" in the cybercrime ring, allegedly helped syndicate members launder illicit funds through fake identities and digital channels
• He is also believed to be involved in fraudulent investment and banking activities and will be charged to court after ongoing investigations are concluded

A suspected internet fraudster has been linked to an elaborate money laundering scheme involving over $300,000, according to findings by the Economic and Financial Crimes Commission (EFCC).

The suspect, whose identity remains withheld pending the conclusion of investigations, was apprehended alongside 34 others during a coordinated raid on Sunday, May 4, in the Sabo Iyako area of Auchi, Edo State.

The operation was based on credible intelligence pointing to widespread cybercriminal activities being coordinated from the area.

Suspects laundered N482m for fellow fraudsters

Preliminary investigations revealed that the suspect played the role of a “picker,” commonly referred to as “azaman” in cybercrime circles. His primary responsibility was to receive and process funds illegally obtained through internet scams.

The EFCC disclosed that the suspect had facilitated the laundering of more than $300,000 on behalf of a network of accomplices who are currently on the run.

Beyond internet fraud, the suspect is also believed to be involved in a broader web of financial crimes, including fraudulent investment schemes and banking-related frauds.

The Commission stated that he operated as a key conduit, moving illicit funds across borders and into the financial system under false pretenses.

Officials familiar with the case described the laundering process as complex, involving multiple digital wallets, third-party accounts, and the use of fake identities to mask financial transactions.

EFCC operatives are continuing to comb through digital evidence and financial records to unearth the full extent of the syndicate's operations.

Suspect to be charged at completion of investigation

The Commission has confirmed that the suspect will face prosecution once the ongoing investigation is finalized. Efforts are also underway to apprehend other members of the syndicate who are believed to be hiding in different parts of the country and abroad.

A source within the EFCC noted that the operation in Auchi is part of a wider crackdown on cybercrime hotspots across Nigeria.

“This is a battle against organized internet fraud, and we are determined to root out all elements behind these damaging activities,” the official said.

The EFCC reiterated its commitment to protecting Nigeria’s financial ecosystem from exploitation by fraud syndicates and urged citizens to report suspicious activities in their communities.

EFCC set to go after “Yahoo boys” in Nigeria

Meanwhile, Legit.ng reported that the Economic and Financial Crimes Commission (EFCC) said it is ready to support the effort to combat internet scams.

This came after hundreds of fraudulent Nigerian Instagram and Facebook accounts were removed by Meta. The social media giant removed almost 63,000 fake accounts last summer because they were linked to the growing fraud issue.

Source: Legit.ng