Six arrested over GHC46.1 million bank fraud
The six were arrested after the police received a tip-off from a bank (name withheld) that someone remotely logged into the banking software.
Six people who allegedly hacked into a bank and attempted to transfer more than GHC46.1 million to eight individuals in different banks have been arrested by the police.
They are Hudu Abdul Mumuni, Emmanuel Adams, Moro Issah, Agbenu Fefous Chrissy, Sam Acquah, a former banker and owner of Adom Sika Savings and Loans Limited and James Taylor, a web developer.
Two others, Boateng Mends, and one person identified as “Pussy Cat” are on the run and being sought for by the police.
The director of the cybercrime unit of the Criminal Investigation Department (CID) Assistant Commissioner of Police (ACP) Dr Gustav Herbert Yankson told the Ghanaian Times in Accra.
He said on 2 July 2020 the cybercrime unit received a petition from the management of the bank (name withheld) that someone remotely logged into the banking software and used the login credentials of some staff that were on leave to transfer the money to eight individuals of different banks.
He said during investigations on 3 July, Mumuni was arrested at First Atlantic Bank at Ridge, Adams at Fidelity Bank Madina, while Issah and Chrissy were apprehended at Dansoman when they showed up to withdraw the wire transferred from the bank.
Dr Yankson said on 2 July, between 1:00 am and 10:00 am 13 fake SWIFT transactions with some initiated outside working hours were fraudulently made to the accounts of eight people.
The director said the management of the bank detected the fraudulent activity and disabled the SWIFT to prevent further transfer, adding that all banks involved were quickly alerted to prevent withdrawals.
Dr Yankson said a forensic examination of the devices retrieved from suspects indicated that Mends and ‘Pussy Cat’ were part of the syndicate.
He said the suspects were currently on police enquiry bail whiles investigations were ongoing.
Attacks on banks
ACP Dr Yankson called on banks to adhere to the Bank of Ghana cybersecurity directives.
He said within the last four months the unit has recorded some crimes against the banks which were in the form of network and Automated Teller Machine (ATM) attacks.
He recommended that the Bank of Ghana (BoG) ensured that the cybersecurity directives are enforced.
Dr Yankson called on banks to install Closed Circuit Television (CCTV) to monitor activities within and outside.
BoG directive
The BoG Cyber and Information Security Directive provides a framework for establishing cyber and information security protocols and procedures for routine and emergency scenarios, inter- and intra-company communication and cooperation and coordination with government authorities.
It also covers the establishment of reporting mechanisms, physical security measures and assurance of data and network security.
In line with the directive, banks are to place special emphasis on cyber and information security and take all the necessary steps to protect and manage their systems and data effectively, as well as expand and enhance their cyber and information security capabilities.
The directive, which applies to all regulated financial institutions and any other entities regulated by the BoG and its affiliates, came into effect in January last year.
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