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A Nigerian Accused Arrested by Interpol in $60 Million Cybercrime


Interpol and anti-fraud agency of Nigeria said on Monday that a Nigerian charged of scamming $60 Million from various companies all over the world via fraudulent emails was arrested after investigation for months.

The Nigerian national, aged 40, known as 'Mike' is supposed to led a group of around 40 individuals, who regularly launched cyber-attacks along with malware injections against the e-mail accounts of businesses positioned in countries all over the world that includes South Africa, the US and Australia.

The suspect, aged 40, allegedly run mainly two kinds of scam namely "CEO fraud", and Payment Diversion fraud - where email of a supplier will be compromised for sending messages that are fake to buyers instructing them to send payments in the bank account, which is under control of the criminal.

Police issued a statement saying that email of a supplier will be compromised and then fake messages will be sent to a buyer asking to send payment in the bank account that is under control of the network. Dailymail.co.uk posted on August 1st, 2016, stating that a top-level executive email account would also be hacked; and request will be sent to the employee, who is responsible for such requests handling, for wire transfer.

Police believe that they carry out fraud by using malware, whereas the suspect who was arrested had contacts of money laundering in Europe, US and China. The suspect also provided details of bank account for the illegal flow of cash.

Head of cybercrime division of EFCC, Abdul Chukkol, said: "the success of this operation is the result of close cooperation between Interpol and the EFCC, whose understanding of the Nigerian environment made it possible to disrupt the criminal organisation's network traversing many countries, targeting individuals and companies".

He further added that: since long we have been saying that the fight against cyber-crime would be effective by relying on international cooperation and private-public partnerships".

Both 'Mike' as well as another suspect, whose name was not disclosed, are currently facing charges that include conspiracy, hacking and collecting money by using false pretences. The country, Nigeria, is infamous in internet fraud. The Embassy of US says that it is receiving inquiries daily from the Americans who are cheated.

The statement also suggests that Nigeria might not be any more safe shelter for cybercriminals.

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