BREAKING: EFCC Returns Over $120, 000, ₦70 Million to Foreign Victims Defrauded by 'Yahoo Boys'
- The EFCC has refunded $120,548.43 and ₦70,602,841.46 to victims in the U.S., Spain, and Switzerland defrauded by Nigerian scammers
- Victims lost money through online scams, including romance fraud, business deception, and fake investments orchestrated by Nigerian cybercriminals
- The EFCC continues to intensify its fight against online fraud, making arrests, securing convictions, and collaborating with international agencies
In a decisive move against financial crimes, the Economic and Financial Crimes Commission (EFCC) has returned a total of $120,548.43 and ₦70,602,841.46 to foreign victims who fell prey to Nigerian fraudsters, commonly referred to as 'Yahoo Boys.'
The funds were restituted to victims from the United States, Spain, and Switzerland.
Source: UGC
How the Victims Were Defrauded
Legit.ng gathered that the affected individuals were deceived through various online schemes, including romance scams, business fraud, and fake investment opportunities.
The fraudsters, operating within Nigeria, lured their victims into transferring large sums of money under false pretences.
EFCC’s Continued Efforts Against Cybercrime
The EFCC, in a statement via X, reaffirmed its commitment to combating cybercrime, warning individuals engaged in fraudulent activities to desist or face the full wrath of the law.
The EFCC has been ramping up its crackdown on cybercriminals, with multiple arrests and prosecutions recorded in recent months.
Officials also highlighted ongoing collaborations with international law enforcement agencies to curb transnational financial crimes.
The EFCC assured that investigations are ongoing to trace and recover more stolen funds from cyber fraud operations.
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Source: Legit.ng
