Nigerian Bank Loses Customers’ N1.7bn to Hackers, Seeks Court Help
- Globus Bank Limited, a Nigerian financial institution, has lost N1.7 billion to hackers and is seeking court assistance to recover the funds
- The bank has managed to recover N817,998,969.85 from the fraudsters' accounts but is unable to retrieve N962,019,843.35 from eight commercial banks
- Globus Bank has filed an application before a high court in Lagos to recover the outstanding amount
Globus Bank Limited, a Nigerian financial institution, has suffered a major setback after hackers managed to withdraw customers' funds amounting to N1.755 billion following a system glitch.
According to court documents filed by the bank before a high court in Lagos, the fraudulent transfers were carried out by hackers who took advantage of a technical issue in the bank's USSD channel.
Source: Facebook
Global bank looking to retrieve money
While the bank has been able to recover N817,998,969.85 from the fraudsters' accounts, it remains unable to retrieve N962,019,843.35 that was transferred to accounts held in eight commercial banks within the country.
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In an affidavit sworn by the bank's legal officer, Kosisochukwu Ngene, it was revealed that the unauthorized electronic transfers took place between Monday, June 6 and Saturday, June 11, 2022.
In response to the incident, Globus Bank immediately sought legal recourse, obtaining an order from the Magistrate Court in the Yaba Magisterial District to freeze and reverse the fraudulently transferred amounts.
Part of the bank's affidavit reads:
"While some of the respondents complied with the order and returned a total sum of N817,998,969.85 to the bank, the remaining N962,019,843.35 is still outstanding and has not yet been recovered from the respondents' banks."
Funds stuck in 8 banks
Globus Bank has subsequently approached the court, seeking its intervention to compel the eight commercial banks involved to reverse and remit the outstanding sum of N962,019,843.35, less any depleted funds, back to the bank.
The lender is also requesting an order to release all account information pertaining to the destination accounts and beneficiaries of the transferred funds.
Polaris Bank replies 'dead customer' trying to access bank account
In another report, Polaris Bank faces accusations from customers for falsely declaring him dead to gain access to his deposits.
The customer, Avogroovy on Twitter, took to social media to make the allegations.
Polaris Bank responded by stating that it received court documents supporting the claim of Anthony's death.
Source: Legit.ng
