Economic and Financial Crimes Commission (EFCC) has issued a formal alert regarding a growing pattern of cyber-enabled financial fraud involving counterfeit airline ticket promotions and deceptive investment schemes designed to harvest sensitive personal and financial data from unsuspecting Nigerians.
In a statement published via its official X (formerly Twitter) account on Friday, the anti-corruption agency revealed the discovery of a sophisticated scam in which victims are enticed with fraudulent foreign airline ticket discounts. As part of the ploy, individuals are requested to make nominal “charity” payments — typically around ₦500 — to purportedly access promotional airfare offers.
“A case in point was a ‘Promo’ offering the public 50% discount on ticket purchase in a leading foreign airline. Victims are led to pay a token of N500 into the account of the airline,” the EFCC stated.
According to the Commission, this nominal payment, disguised as a philanthropic gesture, serves as a vector for malware deployment, thereby enabling unauthorized access to the victim’s device. In many reported instances, targets are also deceived into downloading a fake mobile application attributed to the airline, which facilitates further exfiltration of personal data, including banking credentials.
Subsequent to the data breach, the fraudsters allegedly channel funds siphoned from victims’ accounts into microfinance bank accounts, before laundering the proceeds via cryptocurrency transactions — a method commonly employed to obscure the financial trail and complicate asset recovery.
In addition to the ticket scam, the EFCC raised concern over a parallel scheme involving so-called “Account Suppliers” or “KYC Groups.” These networks reportedly offer monetary compensation, typically between ₦1,500 and ₦2,000, to individuals in exchange for personal identity documents, such as National Identification Numbers (NIN), Bank Verification Numbers (BVN), passport photographs, and related credentials.
“Information available to the Commission revealed that the actors are up to 12,000 all over the country seeking account donors,” the EFCC disclosed, adding that this illegally acquired data is resold to fintech platforms at prices as high as ₦5,000 and subsequently exploited in investment scams and additional financial crimes.
The Commission confirmed that arrests have been made in connection with the operation and stated that efforts are currently underway to recover misappropriated funds. In its concluding remarks, the EFCC emphasized the national security implications of such fraudulent activities and strongly cautioned the public against participating in or enabling these schemes by providing personal data under any pretense.
“The EFCC is committed to safeguarding the financial space of the nation in the overall interests of all Nigerians,” the statement concluded.
