Man Uses Fake bank alert to steal N5m

The Economic and Financial Crimes
Commission has arrested a suspected
fraudster, Wale Olaide, aka Wale Dollar, for
using a fake bank credit alert to defraud a
bureau de change operator, Abdulhamid
Abubakar, of N5m.

EFCC's Head, Media and Publicity, Wilson
Uwujaren, said the suspect, who was an
expert in defrauding unsuspecting victims
through fraudulent bank credit alerts,
contacted Abubakar's younger brother,
Hashim, also a bureau de change operator
based in Lome, Togo, that he wanted to
purchase N5m equivalent in CFA.
He said, "Olaide requested for his (Hashim)
Nigerian bank account to enable him to
pay in the naira equivalent. Hashim asked
Abubakar to send his First Bank account
details to Olaide.

"Abubakar sent his account details and
later received an alert supposedly from his
bank that N5m had been credited to his
account. Upon receiving the alert,
Abubakar informed his brother, who in
turn released the CFA equivalent of N5m to
Olaide."

It was learnt that when Abubakar visited
the bank to withdraw the money the
following day, his account balance did not
reflect the transaction. He subsequently
reported the incident to the EFCC.
Wilson said, "A series of investigations led
to the arrest of Olaide who is believed to
be a member of a syndicate involved in
duping unsuspecting members of the
public through fraudulent bank notification
alerts.

"EFCC is working to unravel the network of
operations of the syndicate. But members
of the public should be wary of this new
trend in crime by fraudsters who use
phony credit alerts to defraud people."

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