• Friday, March 29, 2024
businessday logo

BusinessDay

EFCC launches operation rewire to ambush corrupt politicians, business owners

Buhari was wrong to retain Magu in acting capacity for five years – Ubani

The Economic and Financial Crimes Commission (EFCC) has launched operation Rewire, targeted at corrupt politicians.
The operation is geared towards curtailing the activities of alleged “corrupt Nigerians” involved in Business Email Compromise (BEC) Network in the country.

Acting chairman of the commission, Ibrahim Magu, who launched the project on Monday at a press briefing at the Benin City zonal office of the agency, said Nigerians who acquired wealth illegally were busy occupying political offices.
Magu, represented by Muhtar Bello, head, Benin zonal office, said the people now controlled a lot of economic resources in the country, and disclosed that “businessmen and women” were inspiring to occupy political positions in 2020.
He alleged that the people who were mainly into oil and gas, hotels, casinos, real estate, car dealership, bureau de change, among others, make phoney money through BEC Network.

According to Magu, BEC Network means a situation whereby the emails of chief executives or officers in an organisation that may deal with foreign transfer of funds are targeted. Their emails will be intercepted.
“Most category of people into this BEC are into oil and gas, casinos, hotel business, real estate, car dealers, bureau de change businesses, among others.
“We have just today launched “operation rewire” in Benin. So many people heads will roll because you see innocent people before now thinking that they are doing legitimate businesses but deep inside or deep under it comes with phoney money.

“Like, the lady we have just arrested in Benin City she has established business running into millions of naira. Any moment from now we will round up her business.
“This is the kind of surprising you will see. You will soon see us closing down motor dealers, rounding up hotels among others.
“But all these are a result of BEC. It is a widely coordinated cyber crimes activities. It is not like Yahoo, Yahoo,” he said.
As the fraudsters are busying perfecting the act of cyber crimes, the commission is also busying training its gladiators “so that all of us will meet at the political poll,” he said.
He also added that the Business Email Compromise Network operated higher than the Yahoo, Yahoo boys, more coordinated and integrated into the society.

“The G-guys are higher group of people who are already made it in life. You don’t see them dressing or acting like the normal Yahoo, Yahoo boys you see on the streets,” he said.
He however, added that a total of 113 internet fraudsters were arrested between January and August, 2019 during a raid of their hideouts in Edo, Delta and Ondo states
The acting chairman further added that a total of 53 convictions were secured in the period under review while many prosecution cases are ongoing in court.
He further disclosed that in collaboration with the Federal Bureau of Investigation (FBI) a female suspected cyber fraudsters who work in collaboration with foreign counterpart in dark web was arrested.
He said the suspect involved in obtaining/stealing people’s identification information which she forward to her American collaborator.

“Her collaborator uses her to file for fraudulent tax return with the Internal Revenue Service. She received her share through Bitcoin.
“About 185 Bitcoin which by current market value is N656,371,490 million has been traced to her.
“The Benin Zonal office independently arrested a cyber criminal and two siblings who are involved in Business Email Compromise (BEC). The suspect modus operandi was searching for victims email addresses especially official business email addresses, create a phishing link and compromising the process in order to defraud unsuspecting victims. The three will have their date in court soon”, he stated
He said about 40 exotics cars were confiscated from suspects. Other items recovered are laptops computers, mobile phones, flash drives, internet mo