Nigerians held over $1 million belonging to Jamaica’s National Water Commission

Two Nigerian nationals have been accused of attempting to defraud Jamaica’s National Water Commission (NWC) of over $1 million. Per Loop News, the two suspects, who were described as cybercriminals by the Major Organised Crime and Anti-Corruption Agency (MOCA), reside in Lekki Phase 1, Lagos, Nigeria.

MOCA in collaboration with U.S. Federal law enforcement and Nigerian authorities ultimately launched an investigation into the alleged crime, leading to the arrest of the suspects.

The director of communications at MOCA, Major Basil Jarrett, said that the NWC initially made them aware of the crime in August 2023. Jarrett said the commission told them the funds in question had been illegally transferred to the suspects after a business email compromise was sent.

“In response, MOCA, in collaboration with its US federal law enforcement partners, launched an intensive, international cyber investigation into the attack, resulting in the monies being frozen and ultimately, the majority of it being returned,” Jarrett said in a statement.

“This outcome not only highlights the resilience and preparedness of our cybersecurity defences but also underscores the critical importance of international cooperation in addressing cyber threats.”

MOCA stated that investigations ultimately tracked down the actor behind the cyber attack in Nigeria, and a search warrant was served in the West African nation after a collaboration with international authorities. Nigerian authorities ultimately found the two suspects.

“These arrests are a clear indicator of the strength of our cyber investigation capabilities and the importance of our ongoing collaborations across borders,” Jarrett said. “But they are also a reminder that cyber-attacks are a constant threat in this digital age, with millions of attempts being carried out annually.

“It is critical, therefore, that we remain vigilant by having robust cyber security systems in place,” he added.

MOCA also said investigations haven’t been closed as it is possible the two detained individuals are not the only suspects linked to the cyber fraud scheme, Loop News reported.

Business email compromise (BEC), which is also known as email account compromise (EAC) is “one of the most financially damaging online crimes,” per the FBI. “In a BEC scam, criminals send an email message that appears to come from a known source making a legitimate request,” the FBI states.