Hackers Steal Money From Over 1000 Nigerian Bank Accounts Through BVN-linked Numbers
- Hackers have dealt a heavy blow on over 1000 Nigerian bank customers
- The fraudsters who have now been arrested stole millions of nairas from customers via BVN-linked numbers
- Police stated that the arrested persons are part of a criminal syndicate operating in different parts of Nigeria
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The Nigeria Police Force (NPF) has officially verified the arrests of two suspects who are allegedly part of a syndicate involved in the unauthorised access of over 1000 bank accounts within Nigeria.
This was made known in a statement by the spokesperson for Zone 2 Police Command in Lagos State, SP Hauwa Idris-Adamu.
This follows an earlier alarm raised by the Nigerian Deposit Insurance Corporation (NDIC) about the heightened number of bank fraud cases in Nigeria.
Furthermore, in May 2023, the Central Bank of Nigeria (CBN) had placed 7,552 account holders on the Bank Verification Number (BVN) watch list for fraud-related activities, Legit.ng reported.
According to Idris-Adamu, the individuals with expertise in hacking local banks were apprehended at a concealed location in Ijebu Ode, Ogun State, following a petition filed by a tier-1 Nigerian bank.
Source: UGC
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The Guardian reports that the suspects have been identified as Yusuf Ademola, aged 40, and Adesina Abiodun, aged 50.
As per the official statement, on May 8, 2023, the United Bank for Africa lodged a petition with the Assistant Inspector General of Police, reporting the presence of criminal syndicates engaging in internet fraud against various banks in Nigeria.
The modus operandi involved hacking into customers' accounts to illicitly transfer their funds.
Acting upon this petition, the AIG assembled a team of detectives from the Zonal Monitoring Unit, who promptly initiated an investigation with the aid of advanced technology.
Consequently, two suspects, namely Yusuf Ademola and Adesina Abiodun, were successfully traced to their concealed location in Ijebu Ode, Ogun State.
The statement partly read:
The suspects confessed to the crime that they have many syndicates all over Nigeria and that they use software to hack into customers’ accounts and move their money undetected from any bank they wish.
However, the modus operandi of these fraudsters is to have a customer’s BVN linked phone number and bank alert for easy transfer of the money. Over 1000 customers’ accounts have been hacked and defrauded across the country.
In addition, Idris-Adamu disclosed that a comprehensive inquiry into the matter exposed the fact that the syndicate members hailed from various regions across the country.
Furthermore, she emphasized that relentless efforts were underway to apprehend all individuals associated with the criminal activities.
Globus Bank loses customers’ N1.7bn to hackers
Meanwhile, Globus Bank Limited, a prominent Nigerian financial institution, faced a significant setback when cybercriminals successfully withdrew N1.755 billion from customers' accounts due to a system glitch.
Legit.ng reported that the unauthorized transfers were orchestrated by hackers who exploited a technical vulnerability in the bank's USSD channel.
Despite managing to recover N817,998,969.85 from the fraudsters' accounts, the bank remains unable to reclaim the remaining N962,019,843.35, which was transferred to eight different commercial bank accounts within the country.
Source: Legit.ng
