Operatives of the Economic and Financial Crimes Commission (EFCC), Benin Zonal Directorate, have apprehended a suspected internet fraudster, Olawole Sunday, for allegedly purchasing bank account details from individuals to carry out financial crimes.
A statement released on Monday by the EFCC’s Head of Media and Publicity, Dele Oyewale, said Sunday’s scheme revolved around recruiting young individuals to open multiple bank accounts, which he then used to defraud unsuspecting victims.
Oyewale disclosed that Sunday paid between ₦25,000 and ₦50,000 for each bank account, collecting full banking credentials, including Automated Teller Machine (ATM) cards, from the account holders. The scheme came to light after Sunday allegedly used the bank account of one Uyi Eghosa to defraud a victim of ₦2 million, under the pretext of investing the funds in foreign exchange (forex) trading.
Eghosa, the statement noted, was initially arrested and questioned over the suspicious activity in his account. During interrogation, he claimed he was unaware of any fraudulent transaction linked to his account, having previously handed over the account details and ATM card to Sunday in exchange for a ₦25,000 payment.
“Sunday’s modus operandi involved encouraging young people to open multiple bank accounts, paying them either ₦25,000 or ₦50,000 for each account and collecting their bank details, including ATM cards,” the statement read.
The revelation from Eghosa led investigators directly to Sunday, who, upon arrest, reportedly confessed to the crime. The EFCC has confirmed that Sunday will be prosecuted once investigations are concluded.
The Commission reiterated its commitment to combating cybercrime and urged the public, particularly the youth, to desist from compromising their bank accounts or personal data for quick financial gain.
