“He said that compromised bank employees have played a crucial role in granting unauthorized access to hackers operating from countries including the United States and Eastern Europe.“
The Chairman of the Economic and Financial Crimes Commission (EFCC), Barrister Olanipekun Olukoyede, has raised concerns over a wave of sophisticated cyber attacks targeting Nigerian banks, revealing that insiders are collaborating with foreign hackers to siphon off billions of naira..
Olukoyede disclosed this during an appearance on TVC News’ Journalists Hangout.
Olukoyede disclosed that six commercial banks have been hit by coordinated cyber intrusions involving a syndicate of local and international criminals exploiting internal vulnerabilities.
He said that compromised bank employees have played a crucial role in granting unauthorized access to hackers operating from countries including the United States and Eastern Europe.
Once access is gained, the attackers swiftly transfer large sums of money within seconds.“These are highly coordinated attacks, and insiders play a critical role.
Olukoyede revealed that in some cases, billions were moved in a matter of moments, but we were able to recover N9.7 billion, N6.7 billion, and N3.7 billion in three separate incidents.
He clarified that while the attacks are severe, the institutions are not to blame. Rather, the breaches stem from the actions of rogue staff.
The EFCC boss urged bank executives to tighten internal security measures and launch thorough audits to prevent further breaches.“We’re managing public communication on this carefully to avoid widespread panic. But I assure Nigerians, we are on top of the situation,” he said.
