Group-IB provided Forbes with an example phishing email, showing how the gang posed as legitimate employees and encouraged swift payment into their bank accounts. Read about our approach to external linking. It was learnt that the suspects used fake names on dating sites to prey on their targets including widowed and divorced. 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Search Show/hide Search menu items. Since then, more than ten girls schools in the neighboring province have been attacked. Government budget refers to an annual financial statement that denotes its anticipated expenditure and expected revenue generation in a fiscal year. Although no girls have died, hundreds have had breathing issues, nausea, dizziness, and exhaustion. Police have so far arrested 14 suspects across the US, 11 in Los Angeles alone. As investigations continue to unfold, we are building a very clear picture of how such groups function and corrupt for financial gain. Eleven Nigerians have been indicted by the United States authorities for defrauding elderly Americans in romance scams. The Federal Bureau of Investigation has nabbed Nigerian medical doctor, Patrick Nwaokwu, for his alleged involvement in multimillion-dollar healthcare fraud. Looking to chat? This is especially when the scam takes place across international borders. Thirty-five Nigerians have been arrested in North Texas by the United States' Federal Bureau of Investigation, FBI, for involvement in a fraud worth $117million. The 81-year-old stepped aside in January to allow the French government to conduct an audit of the federation. Perhaps the best-known Nigerian BEC fraudster is Ramon "Hushpuppi" Abbas, who. His companies used phishing emails to steal funds from victims. Copyright 20062023 Sahara Reporters, Inc. All rights reserved. He was named as FIFA president Gianni Infantinos delegate in the organizations new Paris headquarters in January 2022. A notorious Instagram influencer from Nigeria has been jailed for more than 11 years in the US for his role in an international fraud syndicate. Finland has moved to fortify its eastern border since Russias full-scale invasion of Ukraine. NIBSS reports that criminals defrauded a total of 48,767 unique financial subscribers. He pled guilty to money laundering in mid-2021. It became clear that some individuals wanted to close all schools, particularly girls schools, the deputy health minister stated on Sunday. The challenge of fraud is not peculiar to Nigeria alone, as several other countries faced similar challenges in 2020. Akinwande Soji-Ojo A Nigerian national, Adedunmola Gbadegesin, has been sentenced to 60-month jail term for a money laundering conspiracy. Other Americans fell victim to the defendants' romance scams, believing they were in romantic relationships with someone using an alias and, when requested, the victims sent money and items of value to South Africa, the indictment said. Prosecutors say it is one of the "largest cases of its kind in US history". If convicted, the defendants face up 20 years in federal prison on the wire fraud conspiracy counts and up to 10 years in federal prison on the money laundering conspiracy counts. Nevertheless, he noted that the existing material merely showed the likelihood of illegal and deliberate activities. They are facing extradition charges to the United States. Report any suspicions of fraud. Collectively, Nigerias BEC groups make up a sprawling illicit industry. (1) Consumers can report multiple types of identity theft. Najarian estimated that half are unwitting partners of puppeteers in Nigeria, South Africa or the United States. Of this number, people over 40-years of age fell prey to fraudsters the most, with 33.97% accounting for the total number of defrauded persons. The one brother was married to a South African citizen," he said. Why Nigerian cyber fraudsters are 'role models', Baby's body found as police still question couple, Parents jailed for letting neglected teen die, Human error to blame for train crash - Greek PM, Greece train crash: Survivors describe 'nightmarish seconds', At the crash site of 'no hope' - BBC reporter in Greece. Palo Alto claims one of those arrested in Nigeria for BEC fraud was helping run a seemingly legitimate business. His recent arrest marks one of the first known instances of a Nigerian actor being arrested twice for BEC, it added. 2021 Types of Fraud Total Number of Cases Reported Involving Bank S taff Only Involving Outside Persons . Read about our approach to external linking. As of January 2023, Nigerians reported being most worried about getting things stolen from their car. This is A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day! A Nigerian businessman, who once appeared on the cover of Forbes magazine, has been jailed for 10 years in the US over a cyber fraud scam that led to the theft of about $11m (8m). Internet fraud, identity theft, and bank fraud, among other crimes, are all prohibited under federal law. BRF has about 10% of the fast growing Brazilian pet food market with brands including . Here, the POS agent initiates a transaction of 20k and gives the customer to enter the pin, the customer reinitiates the transaction, inputs a lesser amount like 10k, enters the pin, and gives back the machine to the unsuspecting agent. 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On November 30, 18 pupils from the Nour Technical School in the sacred city of Qom were poisoned and transported to the hospital. Techpremier Media Limited. Nonetheless, Helsinki has fewer diplomatic obstacles than Stockholm, and the Finnish government wants to press forward even before the April elections in Finland. They are accused of using business email fraud schemes and romance scams to con victims - many of them elderly. A Nigerian Instagram influencer known as @hushpuppi and the Billionaire Gucci Master admit ted in the U.S. to taking part in a scam to steal more than $1.1 million from a businessperson. Video, At the crash site of 'no hope' - BBC reporter in Greece, Watch: Record numbers of guide dog volunteers after BBC story. The Federal Bureau of Investigation (FBI), the domestic intelligence and security service of the United States (US), has declared that six Nigerians are at top on its list of most . The only mistake these victims make is being generous to the wrong people. With so many people being defrauded, the NIBSS identified social engineering, no 2-factor authentication, PIN compromise, internal collusion, card/phone theft, fake assistance, and several others as the major methods for fraudulent activities in 2020. Purpose - The purpose of this paper is to critically analyse the correlation between the rule of law and the efficient functioning of capital markets. The arrests also represent the second law enforcement crackdown against the groups cybercrime operations this year, after Italian police alsoarrested 30 Black Axe members in April. Video, From around 2015 to 2019, he was part of a group which engaged in a conspiracy to conduct various computer-based frauds, including creating fake websites, Africa Live: Stories from across the continent, Harry and Meghan told to 'vacate' Frogmore Cottage, Oakeshott: Hancock sent me a 'menacing message', M&S sorry for displaying daffodils alongside veg, Rees-Mogg had Covid test couriered during shortage, Dozens of girls treated after new Iran poisonings, School face masks worn to avoid Covid row - claims, Poor families more resourceful in past - top Tory, Parents who let neglected teen die jailed. Seven other properties were also raided in the same neighbourhood. 31st March 2022. Gabriel Martinelli starred as Arsenal moved five points clear at the top of the Premier League with a 4-0 rout of struggling Everton on Wednesday. Keep Up with the Ins and Outs of Military Life For the latest military news. 1,243,960. The SilverTerrier gang is known as one of the more successful BEC fraud groups, and Interpol said initial analysis of one of the 11 suspects computers indicated they were in possession of more than 800,000 usernames and passwords, which could potentially have been used to hack into company email accounts. Announcing his resignation on Tuesday, the FFF stated it recognises the extraordinary sporting and economic accomplishments of Noel le Graet. The FBI estimates that more than 20,000 Americans have lost more than $600 million in romance scams in 2020 alone. The FBI has arrested 33 individuals across Texas for a series of cybercrime-related activities, including BEC and romance scams. Obinwanne Okeke, also known as Invictus Obi, used Nigerian-based companies to defraud people in the US. Tax fraud. Win an all-expense paid trip to AfricaCOM, Africas biggest tech event, If youre in Nigeria, you cant use the Apple-Google COVID-19 tracker feature yet. Shah encourages victims to come forward and reassure them that the scams are more common than one might think more than 20,000 people lost $600 million in romance scams in 2020. The BBC is not responsible for the content of external sites. Adedunmola Gbadegesin, a Nigerian, has been sentenced. VideoAt the crash site of 'no hope' - BBC reporter in Greece. By 2019, Nigerian BEC fraudsters had produced more than 81,300 kinds of malware linked to 2.1 million attacks. 25 September 2021 | The Nigerian Police Force (NPF) has arrested 11 alleged members of a prolific cybercrime network as part of a national police operation coordinated with INTERPOL. 7.2. Enter Search Term(s): . Read about our approach to external linking. Federal prosecutors quoted messages the defendants allegedly sent to victims, in one instance seeking a loan to fix a crane for a construction project: "Honey, i don't know how you will take this, i hate doing it but i have no other option, with profound sense of sadness and disgrace i am begging you to please loan me the balance, if possible a little bit more for upkeeping, i promise i will reimburse you once they come for inspection and give me the part-payment and that cannot be more than sometime next week.". As pointed out in this piece, humans will always be the weakest link in the most sophisticated firewalls and advanced technologies, and theres a need for companies to engage in more customer and employee education. The FBI investigation is a major step to disrupt criminal networks, US Attorney Nick Hanna said. 2023 BBC. This is a BETA experience. Two Nigerians arrested for wire fraud in U.S. According to the FBIs most recent annual cybercrime report, losses totaled $1.8 billion in 2020 alone, with global losses estimated to be close to $5 billion in the years between 2018 and 2020. Interestingly, people ranged 21 30 were the second most defrauded at 31%. Instead, this operation focused predominantly on the technical backbone of BEC operations by targeting the actors who possess the skills and knowledge to build and deploy the malware and domain infrastructure used in these schemes, the company post read. This was a 510% increase from the 550 million lost to fraudsters in the same period in 2019. BRF paid 1.35 billion reais for the assets in 2021. It attempts to examine the Nigerian capital market and how the rule of law can be used to prevent fraud and promote the proper functioning of the market. Hope Olusegun Aroke who is popularly known as H-money is yet another Nigerian big boy who is currently chilling behind the bars for crimes running into millions of dollars. Authorities in the US, where the investigation originated and most of the alleged victims are based, have applied for their extradition. They were accused of grossly conducting romance schemes to defraud and steal from unsuspecting older American adults. "The Co-conspirators often used aliases not only of the purported love interest of a victim, but also of other people involved in that person's life, including a purported child, a business partner, or a friend, to bolster the perceived legitimacy of the stories portrayed, as a part of the Romance Scam or Advance Fee Scheme and to further induce the victims to send money on behalf of the purported love interest," the indictment said. Privacy Policy. 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