Hackers hit Nigerian bank, steal over N523m from customer’s account

Suspected internet fraudsters hacked into the server of an old generation bank and stole a whopping sum of N523,337,100,00 from a customer’s account.

The Public Relations Officer (PPRO) of the Police Special Fraud Unit (PSFU) Ikoyi, Lagos, SP Eyitayo Johnson, disclosed this in a statement on Wednesday, September 21, 2022.

The PPRO said the hackers stole the huge sum using 18 different customers accounts and dissipated same via Unified Payments Interface (UPI), Cash, ATM/POS,Withdrawals and e-transfers.

The PPRO said police have arrested two suspects while operatives are following other leads in order to apprehend the remaining members of the syndicate.

“Hackers hit an Old-Generation Bank, Transferred  Five Hundred and Twenty-Three Million, Three Hundred and Thirty-Seven Thousand and One Hundred Naira (N523,337,100.00) to eighteen (18) different customers’ Accounts and dissipated same via Unified Payments Interface (UPI), Cash/ATM/POS/Withdrawals and e-transfers,” the statement read.

“The Legal Section of the Police Special Fraud Unit (PSFU), Ikoyi-Lagos; headed by CSP. E.A. Jackson, Esq; has successfully obtained an order of the Federal High Court siting in Lagos for the Preservation/Forfeiture/Attachment of a net sum of Five Hundred and Twenty-Three Million, Three Hundred and Thirty-Seven Thousand and One Hundred Naira (N523,337,100.00) fraudulently transferred by internet fraudsters who hacked a customer’s account domiciled in one of the Old-Generation banks and posted the funds into eighteen (18) different accounts in the same Bank before transmitting same to Two Hundred and Twenty-Five (225) other accounts in Twenty-Two (22) Banks/Financial Institutions.

“The coordinated cyber-attack was carried out during the weekend of Saturday 23rd April, 2022, through Sunday 24th April, 2022 to the early hours of Monday 25th April, 2022 before business opened.

“In the course of the investigation, the sum of One Hundred and Sixty Million, Two Hundred and Eight-Seven Thousand, Seventy-One Naira and Forty-Seven Kobo (N160,287,071.47) has been recovered from different Banks; with two suspects arrested, while operatives are following other leads in order to apprehend the remaining members of the syndicate.

“The suspects will be charged to Court as soon as investigations are concluded.”