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A suspected hacker, Femi Salau, has been arrested by the police Special Fraud Unit in Lagos State for allegedly hacking into the system of a first generation bank to defraud it of about N1.868bn.
He stated that the affected bank petitioned the unit and its operatives contacted the Central Bank of Nigeria and Deposit Money Banks, whose customers were beneficiaries of the fraudulent funds, and they were able to recover a substantial amount. “Using application software, he created fictitious credits totalling N1,868,900,000 on the accounts of three of the bank’s customers and successfully consummated debits amounting to N417,542,000 through Internet banking transfers to other banks.
Explaining how the suspects were arrested, Johnson said, “We had been on the trail of the hacker for a while; he travelled out of the country; so, we placed him under watch and picked him up from the airport.
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