Four Nigerians Arrested For Allegedly Hacking And Stealing Millions From Banks In Philippines

 

A report by ABS CBN has revealed how four Nigerians were arrested in Philippines for their alleged involvement in the hacking and diversion of funds from banks in the country.

 

In a statement on Tuesday by the National Bureau of Investigation's Cybercrime Division chief, Vic Lorenzo, it was alleged that the four Nigerians violated the Access Device Law, Anti-Cybercrime law, and falsification of public documents.

 

The statement reads, “The fraudsters’ – Nigerians – transactions were traced when they hacked a system of one Philippines bank, where at least P100 million were transferred and funneled into a different account. The international syndicate is complicated to the point that they study the system’s flaws. Once they see a weakness, they will take advantage of that.

 

However, the Nigerians denied the allegations, saying they were in Philippines to study and they “know nothing about the hacking incident”.