Economic and Financial Crimes Commission (EFCC) has revealed that some bank workers in Nigeria are collaborating with foreign hackers to steal billions of naira from banks. According to EFCC Chairman Ola Olukoyede, these coordinated cyberattacks involve insiders granting unauthorized access to hackers operating from countries like the United States and Eastern Europe.
Key Details:
– Amount Stolen: Billions of naira have been stolen from six Nigerian banks through these cyberattacks.
– Recovery Efforts: The EFCC has recovered significant amounts, including ₦9.8 billion, ₦6.8 billion, and ₦3.8 billion from three separate incidents, totaling ₦21.1 billion.
– Method of Attack: Hackers gain access to bank systems through insiders, then swiftly transfer funds to multiple accounts and digital wallets.
– EFCC Action: The commission has arrested several suspects, including bank workers, and is working to identify additional perpetrators.
Recent Cases:
Wema Bank Case: Three bank employees and four others were arraigned for allegedly stealing over ₦8.5 billion through cyber fraud.
Access Bank Case: Four former workers were accused of stealing ₦6.73 billion by exploiting weak bank security.
The Economic and Financial Crimes Commission (EFCC) has indeed revealed a disturbing trend of bank workers in Nigeria collaborating with foreign hackers to steal billions of naira from banks. Here are some key details :
Amount Stolen: Billions of naira have been stolen from six Nigerian banks through these cyberattacks, with the exact amount still undisclosed.
– Recovery Efforts: The EFCC has recovered significant amounts, including:
– ₦9.8 billion
– ₦6.8 billion
– ₦3.8 billion
from three separate incidents, totaling ₦21.1 billion.
Method of Attack: Hackers gain access to bank systems through insiders, who grant unauthorized access, allowing hackers to remotely manipulate the systems and swiftly transfer funds to multiple accounts and digital wallets.
EFCC Action: The commission has:
– Arrested several suspects, including bank workers
– Frozen some digital wallets containing stolen funds
– Collaborating with international law enforcement to dismantle cross-border criminal networks
Recent Cases:
– Wema Bank Case: Three bank employees and four others were arraigned for allegedly stealing over ₦8.5 billion through cyber fraud.
– Access Bank Case: Four former workers were accused of stealing ₦5.73 billion by exploiting weak bank security.
IN SUMMARY
The EFCC has urged banks to bolster their cybersecurity measures and called on the public to remain vigilant, monitoring their accounts closely and reporting suspicious activities immediately
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