EFCC Warns Nigerians Against  Foreign Airlines’  Ticketing Discount Promos, Arrests Suspects

By Ayodele Oni

The Economic and Financial Crimes Commission,  EFCC, has expressed the concern over what it calls “a rising  fraudulent scheme newly perfected by fraudsters to defraud Nigerians of their hard-earned money.”

A statement on Friday by Dele Oyewale

Head,  Media & Publicity of the commission warned Nigerians to be wary of ubiquitous foreign airlines’  ticketing discount promos.

According to EFCC, “The scheme involves the use of malware to gain unauthorized access to the account information of unsuspecting victims.  Teasers like ‘Promo’, ‘Investment Windows’ and other baits are usually employed  to make their victims volunteer their account information.”

It added that through this, “fraudsters execute transactions on their behalf by sending their funds to accounts mainly  in Fintech Institutions.  Through this access, fraudsters then control and launder the funds through purchase of crypto currencies.

“A case in point was a ‘Promo’ offering the public 50% discount of ticket purchase in a leading foreign airline. Victims are led to pay a token of N500 into the account of the airline.

“The N500 payment, which is now dressed as Charity payment, is the leeway through which the fraudsters gain access to their victim’s personal information.   The victims were deceived into downloading the App of the airline to be eligible for the discount.

“However, after downloading the App and gaining unauthorized access to their personal details, funds were moved from the victim’s  bank account  into an account  in a Microfinance Bank.”

The anti graft czar however observed that this fraud scheme is largely driven by an army of young Nigerians, offering a paltry payment of between N1500 and N2000 to their victims to make them surrender a copy of their personal information details to them and sell the same information to some Fintech Institutions for about N5000.

“These canvassers called themselves ‘Account Suppliers’ or ‘KYC Group’.   Information available to the Commission revealed that the actors are up to 12000 all over the country seeking account donors that will surrender their NIN registration slip, BVN,  passport photograph and other means of identification  for a little fee.

“These information are then used to open accounts with Fintech companies for investment scam and sundry fraudulent schemes.”

The Commission revealed that some arrests have been made in connection with the new scam and recovery of money lost to the fraudulent Promo actors  and Account Suppliers are ongoing.