1. Posted on Tuesday 27 January 2009 - 10:15

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   Streetjournal

   

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   Bowale Oluwole Arisekola, AfricaNews reporter in Ibadan, Nigeria

   An internet fraudster has been jailed for his part in a worldwide scam, which saw millions of pounds stolen from people's bank accounts.

   

   Adewale Taiwo, 26, who worked as a process engineer at Grimley Smith Associates Ltd, based in Brigg, was one of the 'big players' in the UK arm of the Dark Markets website - an invitation only forum for criminals to buy and sell bank card details.
   
   Taiwo obtains confidential online banking details from chat rooms and bank workers. He then used the details to hack into personal accounts and transfer huge sums of money - of which he took a percentage - to clients worldwide. Taiwo, of Victoria Dock, East Hull, admitted at Hull Crown Court, of defrauding around £600,000 from bank accounts around the world, including NatWest and Halifax. Of this, about £240,000 was successfully frozen by the banks.
   
   Police involved in the investigation believe the amount the Nigerian national, actually defrauded could stretch into millions. He was jailed for five years at Hull for conspiracy to defraud between June 2004 and February 2008.
   
   Police authorities are delighted the court recognized Taiwo as a big player in internet banking fraud. “For non-violent crime, five years is seen as a stiff sentence and it recognizes the impact it has had on our banks in this difficult economic climate and the misery he caused to individuals. Evidence gained from his computers is still being investigated by the Serious Organized Crime Agency. The actual loss to the industry could ultimately run into millions of pounds."
   
   Taiwo was finally caught after the IT manager at Grimley Smith noticed other people's bank account details on his computer and alerted the police. Officers found thousands of chat room conversations, emails and bank details stored on his home and work computers.
   
   Simon Wayley, prosecuting, said: "This is international fraud on a grand scale, which he has been heavily involved in for a number of years. Money was dropped into accounts in Ukraine, the United Arab Emirates, New Zealand, the US and Russia and more than £160,000 had been deposited into Taiwo's own personal bank accounts since 2006 from unknown sources."
   
   The court heard one method he used was to set up a joint bank account with the customer, then transfer the money into an anonymous account. Another involved moving the customer's money from a savings account to a regular account, then setting up a fraudulent standing order. His targets are personal bank accounts, including a pension fund and even a clergyman's account.
   
   Sentencing Taiwo, who moved to Hull to work in 2006, after graduating from The University of Manchester, Judge David Tremberg, told him: "You played a heavily active role in an international conspiracy, in excess of 100 victims and dozens of financial institutions were put at risk. You have undermined public confidence in the safety of online banking." The Judge then recommended that Taiwo be deported to Nigeria at the end of his sentence. A proceeds of crime hearing is to be held to determine how much of the money he stole can be retrieved.

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Reactions

1. Posted on Wednesday 04 February 2009 14:26

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   Robesz

   

   
   1 berichten
   Lid sinds February 2009

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   Hello!
   
   I'm from Hungary.
   
   I was frauded by a nigerian, from Ibadan....
   I posted her (or him) a PDA, and I've not get my money back.
   
   Who can help me to catch this person(s).?
   I've lots of e-mail concernig this "transaction"
   
   Thanks for your help!

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