Two bureau de change operators, Salihu Liman Mahmoud and Dan Asabe Ibrahim and two University of Jos undergraduates, Isaiah Friday and Azzaior Samuel were arrested by the The Economic and Financial Crimes Commission (EFCC) for an alleged N2.05 billion fraud. They were arrested in Lagos and Jos.
The fraudsters specialize in breaking into the computer data base of financial institutions, in order to carry out dry posting of funds. They falsified the bank records and accounts and created unjustified huge opening balances in several accounts across the bank’s branches and subsequently transferred funds from those accounts to several accounts in other banks.
The fraudsters specialize in breaking into the computer data base of financial institutions, in order to carry out dry posting of funds. They falsified the bank records and accounts and created unjustified huge opening balances in several accounts across the bank’s branches and subsequently transferred funds from those accounts to several accounts in other banks.
