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BVN Now AN INSTRUMENT OF CRIME IN NIGERIA.__as fraudsters hack over 1000 bank accounts.

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Bank account owners have been advised to guide their accounts jealously as“ Yahoo Boys” and “ Fraudsters” are on the prowl defrauding bank accounts owners of their hard earned monies in their bank accounts.

Already, over 1000 such accounts have been successfully hacked in recent times making Business owners jitter over the safety of their monies in accounts of various banking institutions in Nigeria. A source close to the PHCCIMA research desk, more than #25.5billion have been lost by victims to financial crimes and other electronic related fraud.

The latest development in dealing with this menace is that at a point the banks and Victims could not stomach this problem, the United Bank for Africa (UBA) sent a petition to the Area 2 Command of the Nigeria Police Force Lagos,and the Assistant Inspector General swung into action using various technology tracking devices, resulting in the arrest two members of syndicates who specialized in this nefarious crimes at Ijebu ode,Ogun State.

The Spokesperson of the Command, SP Hauwa Idris Adamu, in a statement confirmed the the development,named the suspects as Yusuf Ademola,40 years and Adesina Abiodun50years. Idris Adamu also confirmed that the duo have made useful statements which will assist enforcement agents to track other fleeing members of the syndicates. The suspects narrated how they have several syndicates scattered all over Nigeria and revealed that they use software to hack into bank Customers accounts using their BVN linked phone numbers and bank alerts for easy transfer of their loots undetected from any bank of their choice to any bank.

In their second quarterly meeting of the Industry Consumer Advisory Forum(ICAF) in Lagos recently, the National Communication Commission blamed Telecoms Operators and warned them to improve their network security architecture. The Executive Vice-Chairman of the Commission, who himself was recently swindled of the sum of $5,000,by hackers, insisted that if Telecom Companies improve on their Security Networks and architecture unwarranted access of such criminals will be effectively blocked. Association of LicensedTelecom Operators in Nigeria (ALTON) has however denied any culpability.

PHCCIMA research unit has advised Members of the Chamber to be very discreet with their BVN, phones and other Bank records to avoid this kind of incidents.