EFCC Arrests Four Suspects in Abuja for Alleged Bank Hacking and Fraud

The Economic and Financial Crimes Commission (EFCC) recently apprehended four individuals accused of unauthorized access to Nigerian banks’ computer systems and fraudulent withdrawals of customers’ funds. The suspects, arrested during a carefully planned sting operation in Abuja, are reportedly part of a syndicate that specializes in hacking and compromising bank databases.

According to EFCC spokesperson Dele Oyewale, the detained individuals include Chima Anthony Nwigwe, believed to be the syndicate’s leader; Effiong Victor Emmanuel; Mohammed Bello Mahmud, who serves as the Managing Director of Downstone Ultimate Limited; and Damian Ali. Oyewale disclosed that the arrests were made after the EFCC received actionable intelligence on the syndicate’s activities.

“The suspects were implicated in hacking and compromising commercial banks’ databases, leading to unauthorized transfers and withdrawals via various digital platforms,” Oyewale said in an official statement. The spokesperson further confirmed that once the investigation is completed, the suspects will be charged in court.

This development highlights ongoing efforts by the EFCC to combat financial crimes and protect depositors’ funds, as financial fraud through cyber infiltration continues to pose a threat to the banking sector.

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