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Toronto police and EFCC reclaim funds from crypto scam

Successful fund recovery: Toronto Police and the EFCC recovered $225,000 from a $335,000 romance scam executed by Nigerian Omonkhoa Precious Afure in June 2021. The deceit involved lengthy manipulation through a Facebook scam over three years, reflecting an ongoing battle against crypto-related fraud.

Multi-agency effort: The recovery result from a collaboration between Toronto authorities, CYBER and fraud units, and the EFCC. Despite the victim’s extensive losses, this case highlights effective international cooperation, leading to significant success in reclaiming stolen funds through diligent investigative processes.

Crypto fraud concerns: In 2023, cryptocurrency scams resulted in over $5.6 billion in losses, with fewer than 10% of victims reporting fraud. The EFCC urges a 300% budget increase to tackle rising financial crimes linked to crypto, underscoring the global need for robust anti-fraud measures.

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