The Police Special Fraud Unit (PSFU), Ikoyi, Lagos has apprehended a man Adeleke Hafees, a member of a cybercrime syndicate connected to a bank fraud of over N3 billion.
The arrest followed a painstaking investigation into a sophisticated cyber intrusion in which members of the syndicate deployed Point of Sale (POS) terminals and other technological means to gain unauthorised access to the database of a financial institution.
The breach, according to the police, enabled the suspects to initiate fraudulent transactions running into billions of naira.
Investigations revealed that the proceeds of the crime were rapidly laundered through numerous bank accounts in a calculated attempt to conceal the origin and movement of the funds.
Detectives of the Unit applied advanced digital forensic techniques and financial analysis to trace the illicit transactions, identify members of the syndicate, and recover vital evidence connected to the case and will aid the prosecution of the offenders.
The Commissioner, PSFU, CP Eloho Edwin Okpoiakpo, commended the professionalism displayed by the investigating team in cracking the case as he further urged them to intensify efforts to apprehend other fleeing members of the gang as no stone will be left unturned.