Over 1000 Nigerian bank accounts have been targeted by hackers who managed to steal money using BVN-linked phone numbers.
More than 1000 bank accounts within Nigeria have been unlawfully accessed, as revealed in a statement by SP Hauwa Idris-Adamu, the spokesperson for the Zone 2 Police Command in Lagos State. This comes after the Nigerian Deposit Insurance Corporation (NDIC) previously raised concerns about the rising number of bank fraud cases in the country. In May 2023, the Central Bank of Nigeria (CBN) placed 7,552 account holders on the Bank Verification Number (BVN) watch list for engaging in fraudulent activities.
Following a petition filed by a tier-1 Nigerian bank, two suspects were apprehended in a concealed location in Ijebu Ode, Ogun State. The individuals were identified as Yusuf Ademola (40 years old) and Adesina Abiodun (50 years old). The United Bank for Africa reported their presence to the Assistant Inspector General of Police on May 8, 2023, providing evidence of criminal syndicates involved in internet fraud targeting various banks in Nigeria.
The suspects’ method involved hacking into customers’ accounts to surreptitiously transfer funds. Acting upon the petition, the Assistant Inspector General assembled a team of detectives from the Zonal Monitoring Unit, who initiated an investigation aided by advanced technology. The investigation led to the discovery of the suspects’ hidden location in Ijebu Ode, Ogun State.
According to the statement, the suspects confessed to the crime and revealed the existence of multiple syndicates across Nigeria. They admitted to using software to hack into customers’ accounts and covertly transfer funds from any bank undetected. The fraudulent operation relied on having access to the customer’s BVN-linked phone number and bank alerts, facilitating easy money transfers. Over 1000 customer accounts were hacked and defrauded across the country.
SP Hauwa Idris-Adamu further disclosed that a thorough investigation uncovered the fact that the syndicate members originated from various regions within Nigeria. She emphasized that relentless efforts were being made to apprehend all individuals involved in these criminal activities.
