Man accused of stealing funds from banking firms through fraud


A man named Idris Dayo Mustapha, a 32-year-old UK citizen, has been accused of stealing funds from financial institutions in the United States from 2011 to 2018. The man has been charged by a New York court with unauthorized computer intrusion, security fraud, wire fraud, and other digital crimes that account for $5m in losses.

It is unclear how Mustapha gained access to the computer networks of banking institutions. But the court case states that the man was arrested in the UK in Aug 2021 with evidence and was extradited to the United States Eastern District court of New York.

Interestingly, another case is pending against this man in a court in another district related to fraudulent access to brokerage accounts of unauthorized stock trades, and making money illegally.

Legal sources say that Mustapha may face 20-years in prison for wire fraud, money laundering, and security fraud and might also face 2-year rigorous imprisonment for identity theft.

Unconfirmed sources state the man has contacts with cybercriminals gangs in Russia and North Korea and was also involved in some scams with China.

NOTE– Russia, China, and North Korea have been nurturing cybercriminal gangs for their reasons. North Korea has taken a step ahead by encouraging cybercriminals to steal digital currency from e-wallets of individuals to fund Kim Jong’s nuclear ambitions.


Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

No posts to display