POLICE PRESS RELEASE

Operatives of Police Special Fraud Unit, Ikoyi – Lagos have arrested one Salau Abdulmalik Femi, the Kingpin of a syndicate that specializes 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.

Using application software, he created fictitious credits totaling One Billion, Eight Hundred Thousand Naira (N1,868,900,000.00) on the accounts of three (3) of the Bank’s customers and successfully consummated debits (outflows) amounting to Four Hundred and Seventeen Million, Five Hundred and Forty-Two Thousand Naira (N417,542,000.00) through Internet Banking transfers to other Banks.

The Unit, while acting swiftly on 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 includes; 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.

Consequently, 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.

E-SIGNED

DSP EYITAYO JOHNSON

POLICE PUBLIC RELATIONS OFFICER

SPECIAL FRAUD UNIT,

IKOYI – LAGOS.

PS: LESSONS FROM THE PRESS RELEASE

ProbitasReport and Kreeno Holdings USA working closely with all anti graft agencies in Africa would advice all Nigerians to do business the right way and avoid all shirt cuts that could cut short their lives.  There is still dignity in hard copy and never defraud another for personal enrichment. Such skills that these hackers possess are in high demand and if you are talented in such and want to use your skills genuinely, then send your details to ceo@probitasreport.com so as to help fight financial fraud in Nigeria. 

Finally, 

SAY NO TO FRAUD AND ALL ILL GOTTEN WEALTH. IF YOU TAKE LOAN, PAY YOUR DEBTS AND AVOID ISSUANCE OF DUD CHEQUES. OPERATE YOUR EVERY DAY BUSINESS WITH INTEGRITY IN BUSINESS AS A COMPASS GUIDING YOUR ACTIONS AND INACTIONS.  

Fred Uwem, Reporting from ProbitasReport