Police in the Philippines have arrested four Nigerian students accused of hacking and stealing millions from banks.
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.
“One of the suspects’ Filipina girlfriend admitted to having used her account to deposit and withdraw money amounting to at least P2 million, which was supposedly for tuition. Blank ATM cards and bank receipts were confiscated from the suspects.”
However, the Nigerians denied the allegations, saying they were in Philippines to study and they “know nothing about the hacking incident”.