Police Nab Suspect Accused of Stealing Over ₦3 Billion From Bank Using POS Machines

The Police Special Fraud Unit (PSFU) has arrested a suspected member of a cybercrime syndicate accused of illegally accessing a financial institution’s database and carrying out fraudulent transactions worth more than ₦3 billion using Point of Sale (POS) terminals and other digital tools. The arrest followed an extensive investigation by the PSFU into what authorities described as a sophisticated cyberattack targeting the bank’s internal systems. According to a statement issued by the unit’s spo