CrimeNews

Hackers steal N2.36m from Piggyvest customers’ accounts, firm says it can’t help

Two customers have already claimed they lost more than N2.36 million in the alleged theft of money saved by Nigerians in Piggyvest, but the corporation has indicated nothing can be done about it.Information Guide Nigeria

According to reports, Olaniyi Hafeez, a Piggyvest customer, lost roughly N165,300 as a result of the hackers’ fraudulent conduct.

Two customers have already claimed they lost more than N2.36 million in the alleged theft of money saved by Nigerians in Piggyvest, but the corporation has indicated nothing can be done about it.

According to reports, Olaniyi Hafeez, a Piggyvest customer, lost roughly N165,300 as a result of the hackers’ fraudulent conduct.

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He clarified that the sum was made up of $181 in savings that had been converted to naira and the funds in Hafeez’s Flex account, which was also located in Piggyvest.

The fact that the funds were transferred to a Sterling Bank account rather than the bank that is linked to Hafeez’s account for withdrawal indicates that the fraudster was given permission to change the account and get around Piggyvest’s security, according to information gathered by Ripples Nigeria.

Rotimi questioned the ease with which the money was transferred. “How can an external person have access to his PiggyVest password to sign in and also have access to security question and answer without his consent?

“How can a withdrawal be made without having to attach the bank account to which withdrawal was made?”.

He clarified that the sum was made up of $181 in savings that had been converted to naira and the funds in Hafeez’s Flex account, which was also located in Piggyvest.

The fact that the funds were transferred to a Sterling Bank account rather than the bank that is linked to Hafeez’s account for withdrawal indicates that the fraudster was given permission to change the account and get around Piggyvest’s security, according to information gathered by Ripples Nigeria.

Although he said GSI will be the last resort to recover the overdue debt, “The GSI shall serve as a last resort by a creditor bank, without recourse to the borrower, to recover past due obligations (principal and Accrued Interest only, excluding any penal charges) from a defaulting borrower through a direct set-off from deposits, investments held in the borrower’s qualifying bank accounts with participating financial institutions.”JAMB Result

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Emediong Ekpe

Emediong Ekpe is a graduate of English. A professional Sports journalist/analyst, and a spoken word artist. He is passionate about decimating information and putting smiles on people's faces via news writing.

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