Fraudsters allegedly hacked into an old-generation bank (name withheld) and stole N523,337,100.00 in one day.
The police have already apprehended two members of the group that reportedly hacked into the bank.
However, investigators from the Police Special Fraud Unit (PSFU), where the matter is being probed, have stated that they have increased their search for other members of the gang who are still at large.
According to Police Public Relations Officer (PPRO), PSFU, SP. Eyitayo Johnson, the fraudsters stole N523,337,100.00 from the bank and disbursed it using Unified Payments Interface (UPI), Cash/ATM/POS/Withdrawals, and e-transfers.
“The Legal Section of the Police PSFU, Ikoyi-Lagos, led by CSP. E. A. Jackson, has successfully obtained an order of the Federal High Court sitting in Lagos for the preservation/forfeiture/attachment of a net sum of N523,337,100.00 fraudulently transferred by internet fraudsters who hacked a customer’s account domiciled in one of the Old-Generation banks and posted the funds into 18 different accounts in
“The concerted cyber-attack occurred from Saturday, April 23, 2022, through Sunday, April 24, 2022, through the early hours of Monday, April 24, 2022, before the business opened.”
“During the investigation, the sum of N160,287,071.47 was collected from several banks; two suspects were detained, and operatives are investigating additional leads to catch the remaining members of the gang.”
He stated that the suspects will be prosecuted in court as soon as the investigations were completed.
Anyasinti Josephine Nneka, Commissioner of Police, PSFU, has encouraged banks and financial institutions to strengthen its Cyber-Security Surveillance and undertake routine background checks on workers who have login rights that might be compromised, making banks vulnerable to cyber-attacks. She also advises the public to look into the sources of any sudden inflows into their accounts. If such monies are discovered to have been incorrectly credited, the receiver should work with their banks to reverse/re-route the cash, as using such funds is a criminal offense.
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