The acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu on Monday September 2, 2019 disclosed that the Commission has arrested a suspected female cyber fraudster who was recently declared wanted by the Federal Bureau of investigation (FBI) in Benin City, Edo State. 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 Federal Bureau of investigation, FBI.
He revealed that the suspected female cyber 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 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 cyber criminal 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”.