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The Nigerian Police say the Police Special Fraud Unit (PSFU), has uncovered a sophisticated fraud syndicate responsible for diverting over Seven Hundred and Thirteen Million, Nine Hundred Thousand Naira (₦713,900,000) from customer accounts.
Force Public Relations Officer, Force Headquarters, Abuja, Anthony Okon, who announced this on Wednesday, said the development followed complaints from financial institutions in Nigeria, who reported a series of unauthorized debits linked to security breaches linked to third-party platforms.
He shared that to follow up on the complaint, PSFU agents deployed sophisticated investigative and digital forensic techniques, which revealed that fifteen (15) customer accounts had been compromised, and funds were quickly routed through a network of accounts in a coordinated laundering operation.
The operation led to the arrest of two suspects, Oguntoyinbo Olawale and Kazeem Omokayode.
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“Further investigation determined that the suspects conspired with Linda, a Chinese national currently at large, to use personal identification details, including Bank Verification Number (BVN), National Identification Number (NIN), and other credentials, to open multiple bank accounts at various financial institutions. These accounts were then used to receive, hide, and launder ill-gotten gains.
“The suspects currently in custody will be tried before competent courts, while efforts to arrest other members of the syndicate who remain at large are being intensified,” PFPRO said.
