Operatives of the Police Special Fraud Unit (SFU), Ikoyi, have apprehended one Ewere George Osas, 62, and his wife over alleged N51.9 million cyber fraud.
According to the statement issued by SFU spokesman, Eyitayo Johnson, the duo were arrested following a petition to the Commissioner of Police in charge of the unit by a law firm alleging diversion of N51,974,999.99 during Inter-Bank wire transfer of the funds.
Johnson explained that the suspects confessed that the hack was done sometime in February by faking the victim company’s email account/website which makes it possible to carry out slight variations to the legitimate email address of the company in order to fool the victim into thinking the fake accounts are original.
He said that the couple with the assistant of their fraud group targeted and compromised the email accounts of businesses that frequently made wire payments, adding that they waited for the right time to substitute the original account that should receive the money.
“Spear phishing emails were also sent to the company to gain access to company accounts, calendars and data.
“Some of the money which were diverted into accounts belonging to the suspect, his wife and daughter in five different banks have been recovered as exhibit while effort is on to locate the rest of the funds and other members of the syndicate.
“Part of the money was also discovered to have been withdrawn via POS and ATM at different locations.
“The suspects will be charged to court as soon as investigation is concluded,” Johnson said.