Four Nigerians students in the Philippines have been arrested over their alleged involvement in an international criminal syndicate that hacks and siphons funds from banks in the country.
In a statement released by the Cyber crime Division chief of the National Bureau of Investigation, Vic Lorenzo, the alleged Nigerian fraudsters were traced after they hacked a system of a Philippine bank and allegedly transferred at least P100 million into a different account.
The Bureau further claimed that the students violated the Access Device Law, Anti-Cybercrime law, and falsification of public documents. The accused Nigerian names were however not given.
The accused students have since denied the allegations stating that, they had nothing to do with the hacking and were in the country to study.
