Citibank Hit by Nigerian Scam
Trouble times ahead for citi bank, as Nigerian scam artists are back into their original business.
As we see financial scams are making much round these days, people need to be aware of the these frauds which are going wild these days . All these scams aims only one thing to gain the, personal identity and financial information .
At recent glance , adding some more boost in crime figures , World’s Largest financial firm citi bank was duped by Nigerian fraudsters. The man behind this whole fraud is Paul Gabriel Amos a Nigerian scammer who was accused of executing, fraud that perpetrated over $27 million from Citibank’s panel, targeting dozens of accounts in the world.
Citibank, received $45 billion in Troubled Assets Relief Program (TARP) funds from the US government last year. At the instant citibank was going with fine tune of transactions with National Bank of Ethiopia (a real bank) without any irregularities.
Thus fraudsters were smart enough to take the advantage of this and convert into scam.
Amos also known as ” Amos Paul” and “Paul Amos Gabrielle and his partner were master mind and defendant suspect for “faking signatures” on various confidential documents directing citibank to transfer money to accounts around the world. Fraudsters were successful in tricking the bank officials to accept such query through fax.
The documents were furnished with contact address pertaining to National Bank of Ethiopia officials, but indirectly it was reaching to these fraudsters, Thus raising doubts on citi bank officials.
In fact scam was only busted , when some of other banks were not able to process the transactions.
The scam was fielded in various phases last year in September. The fund transfers were carried out through JP Morgan Chase and Bank of New York, pointed to beneficiary accounts in Japan, South Korea, Hong Kong, Australia, China, Cyprus, and the US.
Amos, who was arrested in January during an attempt to enter the country from Singapore (his current country of residence), has pleaded not guilty to the charges. If convicted, he faces up to 30 years in prison.
Source : betanews.com
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March 2nd, 2009 at 12:59 pm
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