Man Who Hacked N1.8b From Nigeria Bank Nabbed

Detectives from the Special Fraud Unit (SFU) of the Nigeria Police Force (NPF) have arrested a 38 year old man, Salau Abdulmalik for allegedly being the kingpin of a syndicate that hacked N1.8 billion from a bank in Nigeria.

Besides banks, the gang had also been engaged in hacking into the servers of corporate agencies.

DSP Eyitayo Johnson, the Spokesman of the SFU, Ikoyi, Lagos, said in a statement that Salau was arrested after he allegedly hacked the Flex-Cube Universal Banking System (FCUBS) of a first Generation Bank by using application software to create fictitious credits totaling 1.87 Billion naira.

The suspect was said also said to have successfully consummated debits (outflows) amounting to 417.5 Million Naira through internet banking transfer to other banks.

DSP Johnson, while revealing the items found with the suspect at the point of arrest included an Apple Laptop and an iPhone.

He disclosed that the unit acted swiftly on a petition from the big generation bank by contacting the Central Bank of Nigeria (CBN) and the deposit money banks where the gang transferred the funds to. Salau was nabbed after the banks account holders who were beneficiaries of the transfers account holders were contacted and a significant proportion of the transferred money had been recovered.

He further revealed that the suspect also worked with operators of Bureau De Change in money laundering and that they will all be charged to Court as soon as investigation is concluded.

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