A Nigerian man identified as Salau Abdulmalik Femi has been arrested by detectives from the Special Fraud Unit (SFU) of the Nigeria Police Force (NPF) for allegedly hacking into the server of a first-generation Nigerian bank (name not disclosed) to steal N1.87 billion.
The suspect, who is the kingpin of a syndicate that specialises in hacking into the servers of banks and corporate agencies, was arrested after he hacked the Flex-Cube Universal Banking System (FCUBS) of the bank.
Spokesman of SFU, Ikoyi, Lagos, Eyitayo Johnson, in a statement, said the suspect, using application software, created fictitious credits totalling N1.87 billion on the accounts of three of the bank’s customers.
Johnson said the suspect successfully consummated debits (outflows) amounting to N417.5 million through internet banking transfers to other banks.
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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,” he said.
