The Nigeria Police Force has uncovered a sophisticated fraud syndicate accused of siphoning N713.9 million from customers’ bank accounts, with two suspects already in custody.
The Force Public Relations Officer, DCP Anthony Placid, disclosed this in a statement issued on Wednesday in Abuja.
He said the breakthrough followed an investigation by operatives of the Police Special Fraud Unit after a financial institution reported a series of unauthorised transactions linked to vulnerabilities on a third-party platform.
According to the police, investigations revealed that no fewer than 15 customer accounts were compromised, with the stolen funds moved through multiple accounts in a coordinated laundering scheme.
The statement identified the arrested suspects as Oguntoyinbo Olawale and Kazeem Omokayode.
Further findings indicated that the duo allegedly worked in collaboration with a foreign accomplice, identified simply as Linda, a Chinese national who is currently on the run.
The police said the syndicate used stolen personal data, including Bank Verification Numbers and National Identification Numbers, to open several bank accounts across different financial institutions, which were then used to receive and launder the illicit funds.
The suspects in custody are expected to be charged in court, while efforts are ongoing to apprehend other members of the network.
The Inspector-General of Police, Olatunji Disu, commended the operatives involved in the operation and reiterated the force’s commitment to combating financial and cybercrime across the country.
