Access Bank Has The Worst Banking Security, See Why

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Agusto & Co. affirms ‘A+’ Rating To Access Bank ₦30 Billion 7-Year 15.5% Fixed Rate-Brand Spur Nigeria
Access Bank-Brand Spur Nigeria

A suspected fraudster has stated that Access Bank has one of the worst banking security in Nigeria.

Zachary Yahaya popularly known as ‘His Excellency’ was paraded before the press on Monday were he admitted to his numerous crimes.

When being interrogated by FORCE PRO, Frank Mba, Yahaya revealed that it was very easy to reset the details of Access bank customers.

Access Bank Has The Worst Banking Security, See Why - Brand Spur

Responding to the PRO’s question on banks in Nigeria with the worst security, Yahaya identified Access Bank as one of his ‘favorites’ because it was very easy to maneuver.

Brand Spur Nigeria gathered that Yahaya operates majorly in Plateau, Kano and Abuja. He disclosed that the largest he ever stole from an account is N800,000.

Meanwhile, recall another fraudster identified as Salau Abdulmalik Femi has been arrested by detectives from the Special Fraud Unit (SFU) of the Nigeria Police Force (NPF) for allegedly hacking into the server of a Nigerian bank to steal N1.87 billion.

The suspect, police said, is the kingpin of a syndicate that specializes in hacking into the servers of banks and corporate agencies.

 

He was arrested after he hacked the Flex-Cube Universal Banking System (FCUBS) of a first-generation bank.

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SFU spokesman in Ikoyi, Lagos State, DSP Eyitayo Johnson, in a statement, said the suspect created fictitious credits totaling N1.87bn on the accounts of three of the bank’s customers.

DSP Johnson said the suspect successfully consummated debits (outflows) amounting to N417.5m through internet banking transfers to other banks.

He said the unit while acting swiftly on a petition from the bank; contacted the Central Bank of Nigeria (CBN) and the deposit money banks which customers were beneficiaries of the fraudulent funds and that in the process was able to salvage a substantial amount.

“Items recovered from the suspect include an Apple laptop and an iPhone, and he and operators of some Bureau De Change (BDC) used to launder the monies will be charged to court as soon as investigation is concluded,” Johnson said.

“Consequently, the Commissioner of Police in charge of the Unit, CP. Anderson A. Bankole has scheduled a meeting with Chief Compliance Officers/and Head of Technology/Information Security Department of Banks with a view to brainstorm on the loophole exploited by this suspect and how to counter similar hacks; for the benefit of both the Police and the Banking Sector of our economy.”