The Nigeria Police Force (NPF) said it has recorded a breakthrough in the fight against financial crimes with the uncovering of a sophisticated fraud syndicate responsible for the diversion of over N713.9 million from customers’ accounts.
Force spokesperson Anthony Okon, in a statement on Wednesday, said the development followed a complaint from a financial institution in Nigeria, which reported a series of unauthorised debits linked to security breaches associated with a third-party platform.
Mr Okon said acting on the complaint, operatives of the Police Special Fraud Unit (PSFU) deployed advanced investigative and digital forensic techniques.
He explained that the forensic techniques revealed that fifteen customers’ accounts were compromised, with funds swiftly funnelled through a network of accounts in a coordinated laundering operation.
He said the operation led to the arrest of two suspects, Oguntoyinbo Olawale and Kazeem Omokayode.
According to the statement, further investigations established that the suspects conspired with one Linda, a Chinese national currently at large, to use personal identification details, including Bank Verification Number (BVN), National Identification Number (NIN), and other credentials, to open multiple bank accounts across various financial institutions.
READ ALSO: Police arrest, repatriate Chinese Ponzi scheme suspect wanted for $245 million fraud
“These accounts were subsequently used to receive, conceal, and launder illicit proceeds.
“The suspects currently in custody will be arraigned before a court of competent jurisdiction, while efforts are being intensified to apprehend other members of the syndicate still at large,” the statement said.
It said the Inspector-General of Police (IGP) Olatunji Rilwan Disu commended the officers of the PSFU for their efforts and reaffirmed the commitment of the Nigeria Police Force to combating financial and cyber-enabled crimes.
