Interpol arrests Nigerian accused of $60 million cybercrime

[webfact]

Interpol arrests Nigerian accused of $60 million cybercrime 
MICHELLE FAUL, Associated Press

 

LAGOS, Nigeria (AP) — A Nigerian accused of scamming $60 million from companies around the world through fraudulent emails has been arrested after months of investigation, Interpol andNigeria's anti-fraud agency said Monday.

One company paid out $15.4 million, according to an Interpol statement .

The ringleader of a global scamming network, identified only as 40-year-old Mike, was arrested along with a 38-year-old accomplice in Nigeria's oil capital, Port Harcourt, in June, the statement said. He is on administrative bail, which implies that officers do not yet have enough evidence to charge him.

The man is accused of leading a network that compromised email accounts of small and medium-sized businesses around the world including in the United States, Australia, India, South Africa and Thailand. The statement didn't name any targets.

The network involved about 40 people in Nigeria, Malaysia and South Africa who provided malware and carried out the frauds, with money-laundering contacts in China, Europe and the United States providing bank account details.

A supplier's email would be compromised and fake messages sent to a buyer with instructions for payment to a bank account under the network's control, the statement said. Or an executive's email account would be taken over and a request for a wire transfer sent to an employee.

Lawyer Gary Miller of the International Fraud Group said the amount was "minuscule, a drop in the ocean" in a cybercrime industry estimated to be worth $1 trillion to $2 trillion.

He said it is "quite unusual" to track down a cyber-criminal because "they're usually protected by a few tens, if not hundreds, of zombie servers which hide their identity." His group traces looted funds for individuals and companies.

Nigeria is notorious for internet fraud. The U.S. Embassy says it receives inquiries every day from Americans who have been defrauded.

-- AP 2016-08-02

[mesterm]

Wouldn't be surprised if his full name in his emails was Harold Mike or something.

[ScotBkk]

19 minutes ago, mesterm said:

Wouldn't be surprised if his full name in his emails was Harold Mike or something.

Definitely not - Hard-up Mike !!!

[ClutchClark]

Whats that ?

"Nigeria is famous for internet fraud" according to the US State Dept?

I made a similar remark on the thread about the black mans body found in the Khlong and some posters like Agent Sumo and BluePunk went berserk calling me a racist. 

Does anyone know anything positive to attribute to Nigerians?

Edited August 2, 2016 by ClutchClark

[Redline]

58 minutes ago, ClutchClark said:

Whats that ?

"Nigeria is famous for internet fraud" according to the US State Dept?

I made a similar remark on the thread about the black mans body found in the Khlong and some posters like Agent Sumo and BluePunk went berserk calling me a racist. 

Does anyone know anything positive to attribute to Nigerians?

They seem to like champagne, which could have a positive tilt to it?  Besides that no!

[Monkeyrobot]

60 million ? Should of done a runner after 20. 

[Merylhighground]

3 minutes ago, Monkeyrobot said:

60 million ? Should of done a runner after 20. 

He really should have. He'd have been sitting pretty on a nice little nest egg on a beach somewhere instead of some grim prison cell with nothing. One hopes for his sake that he had the brains to salt a little away for a 'rainy day' 

Though one also hopes that his victims get their money back and he rots for a good while.....

[Chapelroad]

7 minutes ago, Monkeyrobot said:

60 million ? Should of done a runner after 20. 

Pure greed.

[SOTIRIOS]

...wow....

[OnTheRun]

On ‎2‎/‎8‎/‎2016 at 5:14 PM, Monkeyrobot said:

60 million ? Should of done a runner after 20. 

 

Greed would appear to be his downfall