4 Nigerian Students Arrested For Hacking Banks In Philippines

Four Nigerian students have been arrested by the National Bureau of Investigation in Muntinlupa City, Philippines, for alleged involvement in an international syndicate that hacks and siphons funds from banks.

The suspects (names withheld), who were arrested on Tuesday, September 8, allegedly hacked a system of a Philippine bank and transferred at least P100 million into a different account.

Vic Lorenzo, the Cybercrime Division chief of the National Bureau of Investigation, in a statement said, the suspects violated the Access Device Law, Anti-Cybercrime law, and falsification of public documents.

One of the suspects’ Filipina girlfriend admitted to having used her account to deposit and withdraw money amounting to at least P2 million, which was supposedly for tuition. Blank ATM cards and bank receipts were confiscated from the suspects,” he said.

However, the suspects, denied the allegations, saying they were in the country to study and that they know nothing about the hacking incident.

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