Cybercrime kingpin nabbed in Nigeria

ABUJA, Nigeria—Interpol and Nigeria’s anti-corruption agency said on Monday they have arrested a Nigerian man accused of scamming hundreds of victims worldwide, siphoning more than $60 million.

The 40-year-old identified only as Mike, ran a network of at least 40 other fraudsters across Nigeria, the United States, South Africa, and several other countries, according to an Interpol statement. The Nigerian Economic Financial and Crimes Commission arrested Mike with a 38-year-old accomplice in Nigeria’s Port Harcourt state. The two men, currently on administrative bail as the investigation continues, are facing charges of hacking, conspiracy, and obtaining money under false pretenses.

The group’s scams involved diverting funds from some targeted businesses, according to Interpol. The scammers changed the supplier’s email and sent fake messages to buyers with false payment details. In other cases Interpol called CEO fraud, the scammers took control of high-level executives’ email addresses and asked for a wire-transfer from an employee who normally handles such requests. In one case, a target paid out $14.5 million.

“The public, and especially businesses, need to be alert to this type of cyber-enabled fraud,” said Noboru Nakatani, executive director of the Interpol Global Complex for Innovation. “Basic security protocols such as two-factor authentication and verification by other means before making a money transfer are essential to reduce the risk of falling victim to these scams.”

Gary Miller, a lawyer with the London-based International Crisis group, said the cybercrime industry is worth between $1 and $2 trillion. The U.S. Embassy has said it receives hundreds and sometimes thousands of enquiries on a daily basis from people defrauded by internet scammers, many who claim to be in Nigeria. The website details several scenarios the scammers use, including claiming to have been involved in an accident or being detained in a U.S. Embassy and needing payment for their release.

“If this is someone you have not met personally, we urge you to stop corresponding with whoever sent the message, and please do not send any money to Nigeria,” the U.S. Embassy said.