In a decisive move against financial crimes, the Economic and Financial Crimes Commission (EFCC) has returned a total of $120,548.43 and ₦70,602,841.46 to foreign victims who fell prey to Nigerian fraudsters, commonly referred to as ‘Yahoo Boys.’
The funds were restituted to victims from the United States, Spain, and Switzerland.
How the Victims Were Defrauded
Legit.ng gathered that the affected individuals were deceived through various online schemes, including romance scams, business fraud, and fake investment opportunities.
The fraudsters, operating within Nigeria, lured their victims into transferring large sums of money under false pretences.
EFCC’s Continued Efforts Against Cybercrime
The EFCC reaffirmed its commitment to combating cybercrime, warning individuals engaged in fraudulent activities to desist or face the full wrath of the law.
The EFCC has been ramping up its crackdown on cybercriminals, with multiple arrests and prosecutions recorded in recent months. Officials also highlighted ongoing collaborations with international law enforcement agencies to curb transnational financial crimes.
The EFCC assured that investigations are ongoing to trace and recover more stolen funds from cyber fraud operations.
..Details later
