Four Nigerian nationals have been arrested by the National Bureau of Investigation in Muntinlupa City, Philippines, on Tuesday, over involvement in an international syndicate that hacks and siphons funds from banks.
The Nigerians, however denies the allegation, claiming that they are students, and that the money withdrawn were donations from Nigerian students community.
An official statement released by the Cybercrime Division chief of the National Bureau of Investigation, Vic Lorenzo, allege that the suspects’ illicit transactions were traced when they hacked a system of one Philippines bank, where at least P100 million were transfered and funneled into a different account.
He claims that the Nigerians violated the Access Device Law, Anti-Cybercime law and falsification of public documents.
Lorenzo said, “The fraudsters, Nigerians – transactions were traced when they hacked a system of one Philippines bank, where at least P100 million were transfered and funneled into a different account. The international syndicate is complicated to the point that they study the system’s flaw. Once they see a weakness, they will take advantage of that,” the statement reads.
“One of the suspects’ Filipina girlfriend admitted to having used her account to deposit and withdraw money amonting to at least P2 million, which was suppossedly for tuition. Bank cards and bank receipts were confiscated from the suspects.”
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