HOPE PAYMENT SERVICE BANK loses N6.5Billion to fraudsters
As gale of fraud ravaging financial institutions in Nigeria continues unabated the latest victim of N6,563,910,853.00(Six Billion,Five Hundred and Sixty Three Million Nine Hundred and Ten Thousand ,Eight Hundred and Fifty Three Naira. fraud HOPE PAYMENT SERVICE BANK LIMITED has filed an application before a Federal high court in Lagos to salvage the defrauded funds before they are dissipated.
In an application filed before the court against 30 banks listed before the court as defendants, accompanied by 17 paragraphs affidavit deposed to by Chief finance Officer of Hope Payment services bank,Mr.Abiodun Fade and argued before the court by a Lagos lawyer Barrister Ukon Uye with I.E. Awolola,the Deponent avers thus:
On Sunday 15th of July,2024,there was unauthorized access to HOPE PAYMENT SERVICE BANK LIMITED Banking Platform following which huge sums of money were transferred fraudulently from the bank’s banking platform to certain beneficiaries accounts domiciled with the 30 Defendants banks listed before the court to the total sum of N6,563,910,853.00 (Six Billion, Five Hundred and Sixty Three Million, Nine Hundred and Ten Thousand, Eight Hundred and Fifty Three Naira).
The said amounts were transferred from the various customers’ account with the bank and transferred to the Beneficiaries accounts. Attached and marked as Exhibit A is an excel sheet containing the amounts transferred and the beneficiaries to whom they are transfer which Excel sheet printed out.
Immediately the bank discovered the fraud committed on its mobile banking platform, it immediately made demands to the Defendants to claw back but the Defendants have failed, refused and or neglected to claw back the airtime without a court’s order.
Mr Fade averred further that if the accounts of the illegal beneficiaries and recipients of these illicit transactions domiciled with the Defendants banks are not urgently blocked and clawed back to the bank’s customers’ account, the bank stands at a risk of losing millions of naira belonging to its depositors, investors and shareholders.
The bank has been greatly affected by the resultant effect of the fraudulent transaction carried out on its mobile banking platform and unless this application is granted, the bank will further be subjected to untoward hardship and great financial loss.
However, the perpetrators of the fraud having gotten wind of the bank’s efforts to recover the money have begun dissipating the money transferred into these various accounts.
These perpetrators have devised various artifices to dissipate the funds and there is a very high-risk having regard to the facts deposed to herein that unless this application is heard expeditiously, the Plaintiff may not be able to recover anything out of the sum of N6,563,910,853.00 (Six Billion, Five Hundred and Sixty Three Million, Nine Hundred and Ten Thousand, Eight Hundred and Fifty Three Naira).
If this application is not granted,the funds illegally and illicitly transfered will be dissipated by illegal beneficiaries and recipient of these funds.
The financial risk and exposure of the bank is humongous and far reaching that it will take only immediate intervention of the court to forestall same.
If the Defendants are not restrained by the court damages will not be an adequate compensation for the bank. The Plaintiff is prepared to give undertakings as to damages.
Having heard the submission of the counsel to Hope payment services Limited,the court ordered an interim injunction directing the defendants banks whether by themselves, their servants, agents,privies,officers or any representatives to place a restriction on the money standing to the credit of the banks listed before the court to the extent of the sum applicable to each Beneficiary which was illegally transferred from the Plaintiff’s Banking Platform to the accounts of the respective Beneficiaries domiciled with the Defendants pending the hearing and determination of the Motion on Notice for interlocutory injunction filed in this suit is hereby granted.
That the Plaintiff/Applicant shall file an undertaking as to damages to indemnify the Defendants and holders of the said accounts in the event that this order ought not have been made.
