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4 Nigerians Arrested For Allegedly Hacking Philippine Bank

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4 Nigerians Arrested For Allegedly Hacking Philippine Bank

Four Nigerians have been arrested on Tuesday for alleged involvement in an international syndicate that hacks and siphons funds from banks.

According to Philippine National Bureau of Investigation (NBI), the fraudsters transactions were traced when they hacked a system of one Philippine bank, where at least P100 million were transferred and funneled into a different account.

NBI Cybercrime Division chief Vic Lorenzo said: “The international syndicate is a bit complicated, to the point that they are studying the system flaws. When they see weakness there they take advantage.”

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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., Filipino news media, abs-cbn reported. Blank ATM cards and bank receipts were also confiscated from the suspects.

The four Nigerians have however denied the allegations. They said that they were in the country to study with no connection to the hacking incident. The funds withdrawn were donations from a Nigerian student community, one of them said.

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The Nigerians violated the Access Device Law, Anti-Cybercrime law and falsification of public documents. The NBI said.

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