A new generation bank, Globus Bank Limited, has fought to a standstill an attempt by a hacker to defraud its customers of the sum of N1,755,376,156.34 and recovers N962,019,843.35 fraudulently transferred electronically from its vault into accounts domiciled in eight commercial banks.
The bank had approached a Lagos State High Court to secure an order directing all the beneficiaries of eight banks to immediately reverse and remit to, Globus Bank Limited the total sum of N962,019,843.35 (Nine hundred and sixty-two million, nineteen thousand, eight hundred and forty-three naira, thirty-five kobo), being the outstanding sum yet to be salvaged from the fraudulent transfer into several accounts domiciled with the eight Respondents from the Globus bank 709 customers’ accounts, less depleted sum.
In an affidavit sworn to by the legal officer, Kosisochukwu Ngene, Globus Bank said fraudsters took advantage of a system glitch in its USSD application between Monday 6th and Saturday 11th of June 2022 to process several fraudulent and unauthorized electronic transfers totaling N1,755,376,156.34 (One Billion, Seven Hundred and Fifty-Five Million, Three Hundred and Seventy-Six Thousand, One Hundred Fifty-Six Naira thirty-four kobo.
The bank said 709 people who were its customers were involved in the fraudulent transfer of the funds to accounts domiciled in eight commercial banks.
It added that immediately after it discovered the glitch, it instantaneously notified all the banks involved and requested that the beneficiary accounts be restricted.
This, Globus Bank said was in line with Central Bank of Nigeria regulation to avoid dissipation of the funds fraudulently transferred into the accounts domiciled with the banks.
“Subsequently, Globus Bank immediately approached the Magistrate Court, in the Yaba Magisterial District and obtained an order directing the banks to freeze and reverse the amount fraudulently transferred into various accounts domiciled in the banks.
“That in response to the order served on the respondents some of the respondents were able to salvage certain sum wherein the total sum of N817,998,969.85 was returned to the bank while the total sum of N962,019,843.35 is still outstanding and yet to be returned to the bank by the respondent’s banks.
The Excel sheet which contains the names of the respondents the total amount fraudulently transferred from Globus bank, the total amount salvaged and returned to Globus and the total amount outstanding is analyze was also filed before the court.
Globus Bank said it still requires the order of the high court to enable the other banks to reverse and remit the salvaged funds to it.
It added that the other banks have requested an order from the high court, to enable them to reverse and remit the salvaged funds.
“Consequently, Globus bank Limited is seeking the following reliefs from the court.
“An order directing the eight commercial banks to release all account information in respect of the destination accounts and the beneficiaries of the transfer funds.
“And for such further order(s) as the court may deem fit to make in the circumstances of this case.”
