The Economic and Financial Crimes Commission (EFCC) has alerted the public about fraudulent foreign airline ticketing discount promos that are defrauding unsuspecting individuals of their money.
EFCC issued the warning on Friday, explaining that the scheme involves the use of malware to gain unauthorised access to victims’ account information.
“Teasers like ‘Promo’, ‘Investment Windows’ and other baits are usually employed to make their victims volunteer their account information through which 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 ₦500 into the account of the airline. The ₦500 payment, which is now dressed as Charity payment is the leeway through which the fraudsters gain access to their victims’ 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 victims’ bank accounts into an account in a Microfinance Bank,” the Commission stated.
EFCC disclosed that this fraud scheme is largely driven by young Nigerians, who pay victims a paltry sum — between ₦1,500 and ₦2,000, to surrender their personal information and this information is then sold to Fintech Institutions for around ₦5,000.
It noted that the canvassers called themselves “Account Suppliers” or “KYC Group”, revealing that there are about 12,000 actors all over the country seeking account donors that will surrender their NIN registration slip, BVN, passport photograph and other means of identification for a small fee.
The anti-graft agency emphasised that the information is then used to open accounts with Fintech companies for investment scams and sundry fraudulent schemes.
“The Commission has made some arrests in this regard and recoveries of money lost to fraudulent Promo actors and Account Suppliers are ongoing.”
EFCC enjoined the public to be wary of these actors and on no account should any Nigerian agree to be an account donor for any purpose, describing it as a threat to national security.
It reiterated its commitment to safeguarding the nation’s financial space in the overall interest of all Nigerians.
