Operatives of Special Fraud Unit have arrested one Salau Abdulmalik Femi for allegedly hacking into the server of a Nigerian bank to steal N1.87 billion.
Salau 38, is the kingpin of a syndicate specialized in hacking into the Server of Banks and corporate agencies.
The hacker, who displayed exemplary mastery of the cyber environment, was arrested after he hacked the Flex-Cube Universal Banking System (FCUBS) of a first-generation bank.
The spokesman of SFU, Ikoyi, Lagos, DSP 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.
The suspect further succeeded in consummating debits (outflows) amounting N417.5 million through internet banking transfers to other banks.
Eyitayo stated that the unit while acting swiftly on a petition from the bank; contacted the Central Bank of Nigeria (CBN) and Deposit Money Banks (DMBs) whose customers were beneficiaries of the fraudulent funds and was able to salvage a substantial amount.
“Items recovered from the suspect include; Apple Laptop and iPhone; while he and operators of BDCs used to launder the monies will be charged to court as soon as investigation is concluded,” he said.
He added that the Commissioner of Police in charge of the Unit, CP. Anderson A. Bankole has scheduled a meeting with Chief Compliance Officers/and Head of Technology/Information Security Department of Banks with a view to brainstorm on the loophole exploited by this suspect and how to counter similar hacks; for the benefit of both the police and the banking sector of our economy.
