POLICE SPECIAL FRAUD UNIT
(A) CASE OF INTERNET FRAUD:
Hackers hit an Old-Generation Bank, TransferFive 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 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.
(B) CASE OF MISTAKEN PAYMENT/RECEIVING UNENTITLED PAYMENT OF ONE HUNDRED AND TWENTY-THREE THOUSAND DOLLARS ($123,000.00 USD)
The Legal Section of the Unit has charged one SikiruOlawaleOlayinka along with his company, Excampo Nigeria Limited to the Federal High Court, Ikoyi-Lagos; for offences bordering on Fraudulent Conversion and Stealing of One Hundred and Twenty-Three Thousand Dollars($123,000.00 USD) being money wrongly transferred into his company’s domiciliary account on 5th September, 2018.
On receipt of the funds into his account, SikiruOlayinkaOlawale, within hours; quickly visited the Bank and transferred out One Hundred and Twenty Thousand Dollars ($120,000.00 USD) in two tranches into accounts of his cronies.
The Bank made concerted efforts to recover the funds in order to channel same to the rightful account but SikiruOlayinka refused/frustrated these efforts and continued to dissipate the money contrary to the provisions of Banks and Other Financial Institutions Act, 1991 and the Failed Banks Act, 1994.
(C) FOREX FRAUD: CASE OF CONSPIRACY, FALSE REPRESENTATION AND OBTAINING MONEY BY FALSE PRETENCE
On Tuesday 15th September, 2022, the Unit arraigned one James Abidemi and his company; Diamondsmith De-Great Universal Petroleum Corporation and others at large; before the Federal High Court sitting in Lagos for the offence of Conspiracy and Obtaining the sum of Three Hundred and Ninety-Six Million, Nine Hundred and Ninety-Nine Thousand, Eighty Naira (N396,999,080.00) by False Pretence, Fraudulent Conversion and Stealing.
The complainant is a Consulting Firm with prime focus in assisting clients to source and render payment services in Foreign Exchange for goods and services around the world.
In furtherance to the Memorandum of Understanding between the Consulting Firm and the suspect, the suspect’s company, Diamondsmith De-Great Universal Petroleum; received the aforesaid sum in tranches, between the 23rd to 28th May, 2022.
The money was meant for the purchase of Six Hundred and Eighty-Eight Thousand United States Dollars ($688,000.00USD) at an exchange rate of Five Hundred and Seventy-Seven Naira (N577) per US Dollar and was supposed to remit same as Two Hundred and Fifty Thousand US Dollars ($250,000.00 USD), Three Hundred and Twenty-Five Thousand US Dollars ($325,000.00 USD), One Hundred Thousand US Dollars ($100,000.00 USD) and Thirteen Thousand Dollars ($13,000.00 USD) to specified beneficiaries in Mainland China and Hong Kong.
The suspect provided fake telexes as proof of remittance to foreign business partners of the complainant while the money was actually diverted to another member of the syndicate, a banker based in Ghana who dispersed the funds to several other accomplices.
Consequently, the Unit has solicited the cooperation of INTERPOL to apprehend the remaining members of the syndicate that are outside Nigeria.
The Commissioner of Police, Special Fraud Unit, CP. Anyasinti Josephine Nneka has advised Banks and Financial Institutions on the need to increase their Cyber-Security Surveillance, conduct routine background checks on staff who have login privileges that could be compromised to make Banks porous to cyber-attacks. She equally enjoins the Public on the need to investigate sources of unexpected inflows into their accounts. Where such funds are found to have been wrongly credited, the recipient should cooperate with their Banks and make conscious efforts to reverse/re-route same. Utilizing such funds is a criminal offence.
SP. EYITAYO JOHNSON
POLICE PUBLIC RELATIONS OFFICER
FOR: COMMISSIONER OF POLICE
POLICE SPECIAL FRAUD UNIT
IKOYI – LAGOS.