The Economic and Financial Crimes Commission (EFCC) has arrested Olawole Sunday, a suspected internet fraudster, for buying bank account details from individuals to perpetrate financial crimes. Sunday’s modus operandi involved recruiting young people to open multiple bank accounts, paying them between N25,000 and N50,000 for each account, and collecting their full banking details, including Automated Teller Machine (ATM) cards.
The EFCC’s Benin Zonal Directorate received a tip-off about Sunday’s alleged fraudulent activities and launched an investigation. The operatives of the EFCC arrested Sunday and recovered several bank account details and ATM cards from him.
Sunday’s modus operandi involved recruiting young people to open multiple bank accounts. He would pay them between N25,000 and N50,000 for each account and collect their full banking details, including ATM cards. He would then use these account details to defraud unsuspecting members of the public.
One of the victims, who wished to remain anonymous, reported that he was defrauded of N2 million by Sunday. The victim said that Sunday had promised to engage in forex trading on his behalf. Instead, Sunday disappeared with the money.
The account owner, Uyi Eghosa, claimed ignorance of the fraudulent use of his account. He revealed that he had handed over his account details and ATM card to Sunday in exchange for N25,000.
The EFCC is investigating Sunday, and he will be charged to court once the investigation is completed. EFCC has warned members of the public to be cautious when dealing with individuals who promise unusually high returns on investments.
The EFCC continues to crack down on financial crimes, and this recent arrest highlights their efforts to protect citizens from fraudulent activities. The EFCC has urged members of the public to report any suspicious transactions to their offices.
The EFCC’s arrest of Sunday is a significant step in the fight against financial crimes. The EFCC’s efforts to protect citizens from fraudulent activities are commendable, and their warning to members of the public to be cautious when dealing with individuals who promise unusually high returns on investments is timely.