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Nairaland Forum / Science/Technology / Webmasters / Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In (12859 Views)
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Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Slyr0x: 2:16pm On Sep 17, 2013 |
The Economic and Financial Crimes Commission has arrested two young men who claimed to be undergraduates of the University of Jos, Isaiah Friday and Azzaior Samuel, for an alleged N2.05bn fraud. Two bureau de change operators, Salihu Mahmoud and Dan Ibrahim, were also arrested in connection with the alleged crime. The suspects were also accused of being members of a syndicate that specialised in breaking into the computer data base of financial institutions to carry out dry posting of funds. The Head, Media and Publicity, EFCC, Wilson Uwujaren, said the suspects were arrested in Lagos and Jos. He said, “Their arrest comes on the heels of a petition which the commission received from Union Bank of Nigeria Plc, Marina, Lagos, in January 2013, alleging that a criminal attack had been launched on its data base known as ‘Flexcube’, by yet-to-be-identified criminals who falsified the bank records and accounts and created unjustified huge opening balances in several accounts across the bank’s branches. They subsequently transferred funds from those accounts to several accounts in other banks. “The petition, which was signed by one A.F Olufade, Head of Fraud Investigation at the bank, said cash withdrawals and electronic transfers totalling N2.05bn was involved in the scam.” It was learnt that EFCC initial investigation showed that Friday, who was carrying out computer system maintenance services for one of the Union Bank branches in Jos, Plateau State, on a part-time basis, paved the way for the fraudsters to penetrate the bank’s database. Uwujaren said, “Friday was traced and arrested. His arrest led to the arrest of Azaaior Samuel. “Investigations further revealed that Samuel introduced Friday to Mahmoud, who is the mastermind of the fraud with others now at large. “Mahmoud and other collaborators told Friday that they needed access to the bank’s database in order to carry out some postings. They promised to give Friday N.5m if the deal succeeded.” PUNCH Metro gathered that Friday agreed. On the day the crime was committed, he told people at the bank that Samuel was his colleague who had accompanied him to work. It was learnt that after the gang had succeeded in gaining access to the bank’s premises, it carried out the postings to six different company accounts domiciled in Union Bank’s Marina branch in Lagos. Uwujaren said, “The accounts are Gona Bureau De Change Limited, Jaxmine Bureau De Change Limited, Dan Kawu Bureau De Change Limited, Godswill Great Communications, ZHG Services Limited and A and B Console Limited. The postings were carried out and the syndicate thereafter went to the bank to withdraw all the funds. Friday was paid as promised and other syndicate members now at large shared the remaining balance.” The EFCC spokesman added that the commission had been able to recover $2,129,900 and another N134,542, from the fraudsters. He said, “Other items recovered are furniture worth N10m from Salihu Liman’s one bedroom apartment in Yaba, Lagos; four vehicles, landed properties in Kano and Kaduna and a four-bedroom duplex worth N45m in Lagos. http://www.stelladimokokorkus.com/2013/09/union-bank-loses-two-billion-naira-to.html |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Slyr0x: 2:38pm On Sep 17, 2013 |
It was learnt that EFCC initial investigation showed that Friday, who was carrying out computer system maintenance services for one of the Union Bank branches in Jos, Plateau State, on a part-time basis, paved the way for the fraudsters to penetrate the bank’s database. The "insider attack" (i.e. any attack by a rogue employee) is a serious one as such attacks tend to cause more damage, especially when privileged users, who have access to a company's crown jewels, go rogue. . In this scenario, the only thing that stood between the privileged user (in this case Friday) and being a billionaire, was a SQL Update command. . 5 Likes |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Nobody: 3:01pm On Sep 17, 2013 |
What can I say that haven't been said before? |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by prettyify(f): 3:01pm On Sep 17, 2013 |
2 Likes |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Nobody: 3:01pm On Sep 17, 2013 |
Cool Deal, E.T.T tho, abeg bros no quote me sha. |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by iamswizz(m): 3:02pm On Sep 17, 2013 |
See job shaaaa... And i dey here dey do Wire 2 Likes |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Nobody: 3:02pm On Sep 17, 2013 |
As them no get internet access nko? How them go know wetin dey ? |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by realone2012: 3:03pm On Sep 17, 2013 |
OH MY GOD!!! Wanted to go there today to complain that I have not been receiving alert about my transactions. Na to go withdraw all my money sure passss oOoooo *okada wait abeg* |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by diamond002: 3:03pm On Sep 17, 2013 |
Eyah gud news ΐ wish ΐ can get some of D̶̲̥̅̊ moni ̶̲̥̅̊ sowie º°˚ bank manager u r in for it 1 Like 1 Share |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Nobody: 3:04pm On Sep 17, 2013 |
This is an anonymous insiders job. YAHOO YAHOO in the banking sector. Nigeriaaaaaaaaaaaaaaansss... hmm! |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by FunnyPikincom(m): 3:04pm On Sep 17, 2013 |
We read It Here this Morning and the last time i checked its still on the front Page....Haba MOD So...Stella too Don Join Copy & Paste Blogger... Same story, word for word with Different source.... Its Here>>> https://www.nairaland.com/1442253/undergraduates-others-arrested-stealing-n2bn 2 Likes |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Ustec: 3:05pm On Sep 17, 2013 |
For the record...2day is tuesday...!money no b paper dis days again...na FIgures... |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Oyetboy(m): 3:06pm On Sep 17, 2013 |
Hw many times will this make fp |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by overdrive(m): 3:06pm On Sep 17, 2013 |
Ok payback time.if u don't want to do d time then don't do d crime. |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Nobody: 3:07pm On Sep 17, 2013 |
Lol 1 Like |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by 3ace(m): 3:07pm On Sep 17, 2013 |
Oyetboy: Hw many times will this make fpI wonder. Maybe it was moved to FrontPage again by another moderator who hasn't properly checked the FrontPage today. |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by owolabifunke14(f): 3:07pm On Sep 17, 2013 |
Freaking old generation bank.I can't bank in union,UBA and Wema bank. Just imagine how they were outsmarted by these thieves. 1 Like |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Aromas: 3:08pm On Sep 17, 2013 |
Oh boy c money. Mheeeeeen 9ija guy's no dey dull @ll |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Ibangap(m): 3:08pm On Sep 17, 2013 |
This bank seem to have the worse of everything, ranging from poor customer services to poor security services nd personnels. |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Nobody: 3:08pm On Sep 17, 2013 |
That bank still exists |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by africapunch: 3:08pm On Sep 17, 2013 |
WoW! This is serious! |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by kedukc(m): 3:08pm On Sep 17, 2013 |
Whopping! |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by ravensckar(m): 3:09pm On Sep 17, 2013 |
Union Bank my foot! I'll rather dig hole nd bury my money dan deposit it in dt 17th century bank... bt wait o,I tot EFCC has gone on strike? oh,sorri na ASUU.... 1 Like |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Nobody: 3:09pm On Sep 17, 2013 |
That's really bad . . . |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by 3ace(m): 3:10pm On Sep 17, 2013 |
O boy, see heavy stealing without violence. But dis guys wicked o. Shey dem no fit go drain banks lik GTB, ZENITH or FIRST BANK ni? Why UNION BANK wey just dey crawl out of financial mess? Increased liability to the tune of N2b? I bet that bank would further downsize if those criminals were not caught. |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by wellmax(m): 3:10pm On Sep 17, 2013 |
MODS Habatically!!! This news already made FB. https://www.nairaland.com/1442253/undergraduates-others-arrested-stealing-n2bn |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by horlabiyi(m): 3:11pm On Sep 17, 2013 |
I'm sure the OP paid the shit moderators to have this also on the front page when someone already posted this same story some hours ago. |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by BarryX(m): 3:11pm On Sep 17, 2013 |
Is that really news for a Bank like that ? |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by mustaphagreens(m): 3:12pm On Sep 17, 2013 |
abegi joor...dem lose 2billion or 6billion or trillions hw dat one use take concern me? Make dem go renovate their banks jare! |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by Classicalman(m): 3:13pm On Sep 17, 2013 |
So hausa and yoruba dem dey do internet scam too? E be like say dem own worse pass sef. |
Re: Union Bank Loses Two Billion Naira To Fraudsters...EFCC Steps In by leighcon(m): 3:14pm On Sep 17, 2013 |
The title is misleading, the bank did not lose N2.05bn to fraudsters as most of the funds were recovered. This I know. |
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