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EFCC Arrests Nigerian Behind Worldwide Online Scams totalling about $60m

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EFCCA 40-year-old Nigerian national, identified as Mike has been arrested in a joint operation by INTERPOL and the Economic and Financial Crimes Commission (EFCC).

Mike is believed to be the ringleader of a global network behind thousands of online scams.

The network, made up of at least 40 individuals across Nigeria, Malaysia and South Africa, compromised email accounts of small and medium businesses around the world. Their victims are mainly other companies/individuals dealing with these compromised accounts. They have defrauded companies in Australia, Canada, India, Malaysia, Romania, South Africa, Thailand and the US.

The network is believed to be behind scams totalling more than $60 million involving hundreds of victims worldwide. In one case a target was conned into paying out $15.4 million.

Mike also had money laundering contacts in China, Europe and the US that provided bank account details for the illicit cash flow.

He was arrested in Port Harcourt, and a forensic examination of devices seized by the EFCC showed he had been involved in a range of criminal activities including Business Email Compromise (BEC) and romance scams.

The two main ways Mike and his team scammed businesses were “Payment Diversion Fraud” and “CEO Fraud”. In diversion fraud, they will compromise a supplier’s email and send fake messages to a buyer with instructions for payment to a bank account under the criminal’s control.

In CEO Fraud, the email account of a high-level executive is compromised and a request for a wire transfer is sent to another employee who has been identified as responsible for handling these requests. The money is then paid into a designated bank account held by the criminal.

Mike first came into the law enforcement radar through a report provided to INTERPOL by Trend Micro, one of its strategic partners at the INTERPOL Global Complex for Innovation (IGCI) in Singapore. This, combined with actionable analysis and intelligence from Fortinet Fortiguard Labs in 2015, enabled specialists at the INTERPOL Digital Crime Centre, including experts from Cyber Defense Institute based at the IGCI, and the EFCC to locate the suspect in Nigeria, resulting in his arrest in June.

Mike, along with a 38-year-old also arrested by the EFCC, is facing charges including hacking, conspiracy and obtaining money under false pretences. Both are currently on administrative bail as the investigation continues.

9 Comments

  1. artklub

    August 1, 2016 at 2:36 pm

    mtscheww! clap 4 urself! mocking mockingbirds….chasing for chinchin….

    • SpicyHot

      August 1, 2016 at 10:36 pm

      Damn! This dudes do CEO fraud! That’s really crazy! I wonder why they didn’t mention Dubai cus that’s the headquarter of guys into this stuff! The way they set virus trap for you….you will fall shaaaaa ni! I hope it’s not prettymike of club uno sha.

  2. sodawater

    August 1, 2016 at 3:08 pm

    Tell us Mike’s surname and let the epic battle of Biafra Vs The rest of Us Nigeria on Social Media Escalate once again!!! hehehehehe

  3. Prince

    August 1, 2016 at 3:19 pm

    Job well done. send him to kirikiri

  4. nwa nna

    August 1, 2016 at 3:19 pm

    One way extradition ticket for Mike & his cohorts! Damn, $60 millie ain’t no play money…

  5. Justice.

    August 1, 2016 at 6:52 pm

    What are their surnames? Where are the pictures of their faces? HE IS ON ADMINISTRATIVE BAIL? But PDP members, GEJ friends, southerners, Christians, stay locked up in EFCC detention for months on end? Their families, friends, doctors don’t even get to see them; don’t get to bring them food. You stop them from praying but of course, don’t interfere with northern muslims. $60 million, crimes committed in countries all over the world, and ‘Mike’ and accomplice are on bail. Abracadabra. The more you look, the less you see. EFCC.

    Meanwhile, has anyone else observed what is now going on re the man who purported to have the moral high ground to declare Nigerian and Nigerians “”fantastically corrupt””? Just Google his final honours (National Merit Honours) list submitted as PM before his resignation and what his countrymen and women are saying and expressing their disgust. But he could stand on moral authority and declare than an entire nation is corrupt.

    The moral of these two stories: Every day for the thief, one Day for the owner.

    One Day has come.

  6. Debola

    August 1, 2016 at 6:55 pm

    Poor Mike. Thank God he’s been apprehended.#kirikiri

  7. ku.bi

    August 1, 2016 at 7:24 pm

    people we dey on bail……

  8. Goolicks

    August 1, 2016 at 9:11 pm

    Aka .. Yahoo boiz

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