Police nab POS fraudsters after PUNCH investigation

The Nigeria Police’s National Cybercrime Centre has arrested a group of fraudsters who stole over N16 million using Point of Sales machines.

The police spokesperson, Muyiwa Adejobi, announced this in a statement issued on Tuesday evening.

He said the police unit, which was set up to tackle cybercrime offences, had recorded salient achievements in less than one month.

According to the police publicist, one of those achievements is the arrest of a POS fraud network.
“It is a case of unlawful access to a computer network and manipulation of a point of sale network to defraud the unsuspecting owner of the total sum of N16,149,195.00,” he stated.

The suspects arrested are Sanmi Ayodeji, 29, Felix Oluwaseun, 24 and Adeleye Oluwaseun, 32.

Explaining the suspects’ mode of operation, Adejobi said they (suspects) signed up on a POS platform known as Tmoni Technologies Company using their Bank Verification Numbers and those of their friends and relatives without their consent.

“They proceeded to open valid wallet accounts with Tmoni, manipulated the company network security system, and fraudulently transferred funds to the tune of N16.1m from the Tmoni platform to various online accounts from where they made subsequent withdrawals.”

“The suspects were eventually arrested in Ibadan, Oyo State, by operatives of the NPF National Cybercrime Centre, after an official complaint was lodged by the financial controller of the Tmoni platform.”

“Upon their arrest, the suspects were found in possession of several mobile phones, POS machines, SIM cards, Automated Teller Machine cards, and one Toyota Matrix car with registration no. KUJ 548 CN which they confessed was bought with proceeds of the crime,” he stated.

Adejobi noted that the suspects would be charged to court as soon as possible.

This development comes one week after PUNCH Investigations published an investigative report exposing activities of POS fraudsters.

In the report titled, “POS fraud: How slack guidelines, banks’ apathy cost Nigerians huge losses,” which was published on November 28, our correspondent reported how the POS has turned into a tool through which fraudsters swindle unsuspecting Nigerians.

The report also chronicled how banks, regulatory agencies and law enforcements had put in place little or no measures to stem the tide.