Full list: EFCC names nine hotbeds for internet fraud in Lagos
Data from a recent investigation by the Economic and Financial Crimes Commission has listed nine areas in Lagos State as hotbeds for suspected internet fraudsters.
Most of the areas are in Lekki, according to the data released by the anti-graft agency on Friday.
While seven of the areas are on the Island, two are on Mainland.
Expand Your Learning with E-Books on PrimsolLog in to primsol.lawpavilion.com and enjoy the best E-journals, textbooks, and many more
To subscribe to Primsol, go to store.lawpavilion.com.
The data showed that no fewer than 159 suspects were arrested in the areas in three months, from which 13 convictions were made.
The areas listed are – Ajah, Badore, Victoria Garden City, Sangotedo, Oniru, Ikoyi, Eko Atlantic, Ikorodu and Alagbado.
The EFCC said, “Between April and June 2021, the Advance Fee Fraud and Cyber Crime Sections of the Command recorded a total of 402 internet-related fraud arrests.
“While the Advance Fee Fraud Section was responsible for 243 arrests, the Cyber Crime Section executed 18 sting operations which resulted in 159 arrests, from which 13 convictions have so far been recorded.
“Of the 159 suspects arrested by the Cyber Crime Section, 70 are from Lekki, comprising communities such as Ajah, Badore, Victoria Garden City, Sangotedo and Oniru.
“Ajah accounted for 24 suspects, while Oniru and Sangotedo had 14 and 13 suspects respectively. Badore had 8 suspects. Neighbouring Ikoyi and Eko Atlantic had two and one suspects each. Ikorodu and Alagbado on the Lagos Mainland make up the remainder.”
EFCC categorised the majority of those affected as millennials, students and dropouts.
“The suspects are mostly millennials, with 82 of them aged between 25-34 years, which speaks to the fact that most of the individuals arrested are either still in school, recent graduates or university dropouts,” the anti-graft agency added
Form of internet crime
Analysis of the data from the Cyber Crime Section further shows that the dominant form of internet crime is Dating Scam/Online Dating Scam/Romance Scam.
The data showed that 64 per cent of individuals arrested are involved in romance scam, followed closely by “Middle Man Scam” and “Picking” which account for eight per cent and seven per cent respectively of those arrested.
“The 64 per cent involved in the dating scam benefitted to the tune of N8, 310,000; $349,290 USD; £ 900; €10 and Cryptocurrency 0.17513.
Other typologies of fraud identified include forgery, possession of fraudulent documents, spamming, credit card fraud, impersonation, rental scam, loan fraud, Business Email Compromise, Hacking, stealing, cheque scam, phishing, and money laundering,” part of the statement added.
The data also revealed that gift cards, at 39 per cent, as the prevalent method employed by the suspects to access their illicit funds. I
“It is followed by bank transfers at 27 per cent and Cryptocurrency at 21 per cent. A total of $12, 512.49USD was recovered from the e-wallet accounts of four suspects within the period,” EFCC said.