A suspected fraudster popularly known as Yahoo boy has been arrested by the Nigerian Police.
In a trending video, the young man recounted he makes use of the BVN on a stolen sim card to transfer cash to an “untraceable” account. He stated he looks for the bank code of the financial institution connected to the sim card after which he begins his operation.
On how he gets the BVN number, the suspect stated he has a code he dials to access on any sim card he lays his fingers on.
Talking in Yoruba, the suspect while being interrogated, stated he makes use of the financial institution codes on any sim card that receives bank alerts to transfer cash to a different account which he has entered.
He also mentioned that he takes loans from empty salary bank accounts through the use of sim cards to request loans from the owners’ bank.
Watch the video of him giving his account of how he carries out the crime below.
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