News

Four Nigerians Arrested For Allegedly Hacking And Siphoning Funds From Philippine Banks

Four Nigerians Arrested For Allegedly Hacking And Siphoning Funds From Philippine Banks

 

 

The Philippines National Bureau of Investigation (NBI) on Tuesday arrested four Nigerian nationals in Muntinlupa City of the country for alleged involvement in an international syndicate that hacks and siphons funds from banks.

According to the NBI, the fraudsters’ transactions were traced when they hacked a system of one Philippine bank, where at least P100 million were transferred and funnelled into a different account.

“Medyo complicated ang international syndicate, to the point na pinagaaralan nila yung system flaws. Pag nakita nila ang weakness doon sila nagtatake advantage,” NBI Cybercrime Division chief Vic Lorenzo said.

“The international syndicate is complicated.. to the point that they study the system’s flaws. Once they see a weakness, they will take advantage of that”

One of the suspects’ Filipina girlfriend admitted to having used her account to deposit and withdraw money amounting to at least P2 million, which was supposedly for tuition.

Blank ATM cards and bank receipts were confiscated from the suspects.

The Nigerians denied the allegations, citing that they were in the country to study and that they know nothing about the hacking incident. The funds withdrawn were donations from a Nigerian student community, one of them said.

The NBI said the Nigerians violated the Access Device Law, Anti-Cybercrime law and falsification of public documents.

Angela Davies

Recent Posts

SDNON Unveils Ambitious Plans For 2025, Celebrates Outgoing Executives

The newly elected SDNON excos have unveiled their ambitious plans for 2025 and celebrated the outgoing executives.…

16 hours ago

Primate Ayodele Releases 2025 Prophecies For All Sectors

The leader of the INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has released his 2025…

1 day ago

Timeless Tunes: How Throwback Songs Bond Africans In 2024

Music has always been central to African culture, reflecting societal changes while connecting generations. In…

2 days ago

Sinach To Feature In Global Christian Event, Gather25

Sinach is set to feature in the global Christian event, Gather25.   Glamtush reports that Gather25,…

2 days ago

Yahaya Bello Released After Meeting Bail Conditions

Yahaya Bello has been released after meeting his bail conditions.   Glamtush reports that former…

3 days ago

Makinde Cancels Birthday Celebration To Honour Ibadan Stampede Victims

Makinde has cancelled his birthday celebration to honour the Ibadan stampede victims.   Glamtush reports that Governor…

3 days ago