Nigerian man breaches bank server attempts to steal N1.868B
A Nigerian man identified as Salau Abdulmalik Femi has been arrested by the Special Fraud Unit (SFU) of the Nigeria Police Force (NPF) for allegedly hacking into the server of a first generation bank to steal N1.868 billion.
A Nigerian man identified as Salau Abdulmalik Femi has been arrested by the Special Fraud Unit (SFU) of the Nigeria Police Force (NPF) for allegedly hacking into the server of a first generation bank to steal N1.868 billion.
Salau was arrested alongside two Bureau de Change (BDC) who are also accpmplices in the crime.
The SFU spokesman in Ikoyi, Lagos State, DSP Eyitayo Johnson, in a statement, said the suspect was arrested after he hacked the Flex-Cube Universal Banking System (FCUBS) of a first generation bank.
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DSP Johnson said the suspect used application software to create fictitious credits totalling N1.868 billion on the accounts of three of the bank’s customer and successfully consummated debits amounting to N417.5 million through internet banking transfers to other banks.
He said the unit while acting swiftly on a petition from the bank; contacted the Central Bank of Nigeria (CBN) and the deposit money banks which customers were beneficiaries of the fraudulent funds and that in the process was able to salvage a substantial amount.
“Items recovered from the suspect include an Apple laptop and an iPhone, and he and operators of some Bureau De Change (BDC) used to launder the monies will be charged to court as soon as investigation is concluded,” Johnson said.
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“Consequently, the Commissioner of Police in charge of the Unit, CP. Anderson A. Bankole has scheduled a meeting with Chief Compliance Officers/and Head of Technology/Information Security Department of Banks with a view to brainstorm on the loophole exploited by this suspect and how to counter similar hacks; for the benefit of both the Police and the Banking Sector of our economy.”