EFCC Warns Nigerians Over New ‘Promo’ Scam Involving Foreign Airline Discounts, Fintech Accounts
One example cited by the EFCC involved a fictitious 50% ticket discount allegedly offered by a well-known foreign airline.
The Economic and Financial Crimes Commission (EFCC) has issued a public alert on what it described as a fast-spreading fraudulent scheme being used by criminal syndicates to defraud unsuspecting Nigerians through fake promotional offers, particularly involving foreign airlines and fintech platforms.
In a a statement signed by the Head of Media and Publicity, Dele Oyewale, the EFCC warned that fraudsters are leveraging fake “promo” campaigns and investment windows to lure victims into volunteering sensitive financial information.
According to the anti-graft agency, the fraudsters deploy malware and social engineering techniques to obtain unauthorized access to victims’ bank accounts, which are then emptied and laundered through cryptocurrency purchases and fintech accounts.
“The scheme involves the use of malware to gain unauthorised access to the account information of unsuspecting victims,” Oyewale stated.
“Teasers like ‘Promo’, ‘Investment Windows’ and other baits are usually employed to trick their victims into volunteering account information.”
One example cited by the EFCC involved a fictitious 50% ticket discount allegedly offered by a well-known foreign airline.
Oyewale said victims were asked to pay a token fee of N500 as a “charity” donation to qualify for the promo.
However, once the victims downloaded the supposed airline’s app as instructed, the fraudsters gained full access to their personal and banking details
Funds were moved from the victims’ bank accounts into accounts held in Microfinance Banks,” Oyewale explained.
The Commission also highlighted the emergence of a disturbing trend involving groups known as “Account Suppliers” or “KYC Groups.”
Oyewale stated that these individuals, mostly young Nigerians, offer victims small amounts ranging from N1,500 to N2,000 in exchange for personal information such as National Identification Number (NIN) slips, Bank Verification Numbers (BVNs), passport photos, and other ID documents.
According to him, the stolen information is then sold to fintech institutions for as much as N5,000, and subsequently used to open fraudulent accounts for investment scams and other criminal operations.
“Information available to the Commission revealed that the actors are up to 12,000 across the country seeking account donors,” Oyewale noted.
Oyewale confirmed that the EFCC has already made several arrests in connection to these fraudulent activities.
He said recovery of stolen funds linked to both the fake promo scams and KYC-related fraud is currently underway.
The Commission urged members of the public to remain vigilant and warned Nigerians not to surrender their personal data for any form of payment or promise.
“On no account should any Nigerian agree to be an Account Donor for any purpose as this is a threat to national security,” the agency warned.
Oyewale reiterated EFCC’s commitment to protecting Nigeria’s financial ecosystem and advised citizens to report suspicious offers to law enforcement agencies immediately.
