The acting Chairman of the Economic and Financial Crimes Commission (EFCC) Ibrahim Magu disclosed that the Commission has arrested a female suspected cyber fraudster who was recently declared wanted by the Federal Bureau of investigation (FIB) in Benin City, Edo State on Monday, September 2.
He stated that the identity of the lady was withheld for now because investigations were still ongoing.
Magu stated this in Benin City while addressing the media on the Commission’s efforts to rid the society of economic and financial crimes and its collaboration with the FBI.
He revealed that the arrested female fraudster work in collaboration with foreign counterparts in ‘darkweb’. “She is involved in obtaining/stealing people’s identification information which she forwards to her American collaborator. Her collaborator uses it to file for the fraudulent tax return with the Internal Revenue Service. She received her cut through Bitcoin. About 185 Bitcoin which by current market value is N656,371,490”.
The acting Chairman who was represented by the Zonal Head, Muhtar Bello said the Commission between January and August 2019 arrested 113 internet fraudsters in Edo, Delta, and Ondo and secured the conviction of 53 in court. “Over 30 exotic cars were confiscated from the suspects. Other items recovered from them are laptops computers, mobile phones, flash drives, internet modem, and charms”.
He also revealed that the Commission independently arrested a cybercriminal and two siblings who are involved in Business Email Compromise, BEC. “Their modus operandi was searching for victims email addresses especially Official Business Email addresses, create a phishing link and compromising the process in order to defraud unsuspecting victims.”
Using graphic illustrations, he educated journalists on how funds move from “hackers, farmers, and the pickers.”
