Hackers Hit Nigerian Bank, Steal N523m From Customer’s Account

The police are on the trail of hackers who hit into the server of a Nigerian bank and stole a whopping sum of N523,337,100,00 from a single customer’s account.

The attack was carried out in the weekend of Saturday 23rd April, 2022, through Sunday 24th April, 2022 to the early hours of Monday 25th April, 2022 before business opened the police said in a statement.

The identity of the bank has not been revealed.

The Public Relations Officer (PPRO) of the Police Special Fraud Unit (PSFU) Ikoyi, Lagos, SP Eyitayo Johnson, disclosed in a statement on Wednesday, September 21, 2022 how the hackers hit the Nigerian bank.

The PPRO said the hackers stole the huge sum using 18 different customers accounts and dissipated same via Unified Payments Interface (UPI), Cash, ATM/POS,Withdrawals and e-transfers.

The PPRO said police have arrested two suspected hackers who hit the Nigerian bank while operatives are following other leads in order to apprehend the remaining members of the syndicate.

“Hackers hit an Old-Generation Bank, Transferred  Five 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 statement read.

“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,” the police said of the hackers who hit the undisclosed Nigerian bank.

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