Panic As Hacker Pulls N1.8b From Nigerian Bank’s Server Within Minutes

CYRIACUS IZUEKWE

A 38-year old Nigerian hacker, Salau Abdulmalik Femi, who specialized in stealing money from banks and corporate bodies,  has given insight into how he hacked into Nigerian banks’ server and pulled over N1.8b within minutes.

 P.M.EXPRESS investigation revealed that since the information was disclosed, there had been panic in various banks, which feel that the suspect, Femi and his syndicate might hack into their server and steal customers monies thereby incurring huge debts for such banks.

The suspect, Femi, was arrested by detectives from the Special Fraud Unit (SFU) of the Nigeria Police Force, for allegedly hacking into the server of a Nigerian bank to steal N1.87b.
The Police, who believed he is the kingpin of a syndicate, which specialised in hacking into the servers of banks and corporate agencies reportedly confirmed the suspicion after he told the officials of SFU that he has the capacity to pulled millions from bank servers within minutes by using different softwares.

He was arrested after he hacked the Flex-Cube Universal Banking System (FCUBS) of a first generation bank.
This was disclosed by the spokesman of SFU, Ikoyi, Lagos, DSP Eyitayo Johnson, who said the suspect, using application softwares, created fictitious credits totalling N1.87bn on the accounts of three of the bank’s customers.
He successfully consummated debits (outflows) amounting to N417.5m through internet banking transfers to other banks.He said the Unit, while acting swiftly on a petition from the bank, contacted the Central Bank of Nigeria (CBN) and the deposit money banks, which customers were beneficiaries of the fraudulent funds and that in the process was able to salvage a substantial amount.

“Items recovered from the suspect included an Apple laptop and an iPhone. He and operators of some Bureau De Change (BDC), who used to launder the monies, will be charged to Court as soon as investigation is concluded,” he said.