Nwaokwu was arrested on July 9,. 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. More than one in four people who reported losing money to fraud in 2021 said it started on social media with an advert, a post, or a message, according to the US Federal Trade commission. The defendants are charged with wire fraud, wire fraud conspiracy, money laundering conspiracy and aggravated identity theft. The FBI estimates that more than 20,000 Americans have lost more than $600 million in romance scams in 2020 alone. Cybersecurity company Palo Alto Networks tracks all BEC fraud coming out of Nigeria under the name SilverTerrier and has found that among the nearly 500 different actors involved, they were often connected through only a few degrees of separation on social media platforms, showing links between over 120 actors. People between the ages of 20 and 40 account for 35% of those reports. But in Q3 2020, Nigeria appeared to be the worst hit by a wide margin. 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. Eight Nigerian men accused of an internet dating scam have appeared in a South African court after a massive international operation involving the FBI and Interpol. 7.2. By 2019, Nigerian BEC fraudsters had produced more than 81,300 kinds of malware linked to 2.1 million attacks. "This case is part of our ongoing efforts to protect Americans from fraudulent online schemes and to bring to justice those who prey upon American citizens and businesses," he added. The only mistake these victims make is being generous to the wrong people.. BRF paid 1.35 billion reais for the assets in 2021. The NIBSS expects this trend to continue as more people come online and become more dependent on electronic transactions for their day-to-day activities. Authorities in the US, where the investigation originated and most of the alleged victims are based, have applied for their extradition. At least 100 people demonstrated outside the governors office in Qom earlier this month. Catch up with me, @eruskkii, on Twitter or send a mail to emmanuel@techpoint.africa, Even with zero charges and speedy transfers, Nigerians are not using the eNaira. Its parliament has begun discussing a measure to expedite the countrys application, with a vote scheduled for Wednesday. Then, of course, again, the large amounts attracted international organized crime or freelancers anywhere from Russia, China, Nigeria, the usual suspect hotspots of just fraud criminality in general. Oluwalobamise Michael Moses, 40 arrested in DFW, charged with wire fraud conspiracy, Irabor Fatarr Musa, 51 arrested in the Eastern District of Texas, charged by the Northern District of Texas wire fraud conspiracy, money laundering conspiracy, Ijeoma Okoro, 31 arrested in DFW, wire fraud conspiracy fraud, money laundering conspiracy, Chukwemeka Orji, 36 arrested in DFW, charged with wire fraud conspiracy, money laundering conspiracy, Emanuel Stanley Orji, 35 arrested in DFW, charged with wire fraud conspiracy, Frederick Orji, 37 arrested in Dallas, charged with wire fraud conspiracy, money laundering conspiracy, Uwadiale Esezobor, 36 arrested in Lubbock, charged with mail & wire fraud conspiracy, Victor Idowu, 36 arrested in Los Angeles, charged with mail & wire fraud conspiracy, Afeez Abiola Alao, 37 wire fraud conspiracy, money laundering conspiracy, Ambrose Sunday Ohide, 47 wire fraud conspiracy. I have two daughters, one father shouted in a video widely shared on social media. One shocking thing about him was that even while serving a 24-year jail sentence, he was allegedly able to mastermind an almost $1.5 million "mega scam". The international policing agency said the suspects appeared to have targeted as many as 50,000 different individuals and companies via so-called business email compromise. 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. Eight Nigerians have been charged in the U.S. with running widespread internet scams for at least a decade from their base of operation in Cape Town, South Africa, federal prosecutors in New Jersey announced Wednesday. 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. Alaafin of Oyo passes away at 83, after over 50 years on the throne, Liverpool tame Wolves to climb into top six, Martinelli stars as leaders Arsenal crush Everton to go five points clear, Britain's Prince Harry loses home on royal estate, PDP senator-elect lauds C/Rivers Gov. Azubuike was promoted from a Lieutenant Colonel to Brigadier General at a military base in Fort Knox, Kentucky, USA. The NIBSS advises agents to check the debit receipts before parting with cash. (FTC) The FTC received 2.2 million reports of fraud in 2020. These numbers are in keeping with the notion that Internet penetration, mobile phone usage, and agency banking activities are all increasing. There were also calls for him to resign following comments he made against Zinedine Zidane, the former French player who led Real Madrid to three consecutive Champions League victories. CNN Celebrated Nigerian entrepreneur Obinwanne Okeke has been jailed for 10 years by a US federal court for masterminding an $11 million cyber fraud on a British company. Prosecutors say it is one of the "largest cases of its kind in US history". "Widowers, widows, divorcees, they really target those folks in a vulnerable state, pulling at their heart strings, all with the intent of separating them from their money," Crouch told ABC News in a phone interview. and then siphoned money from victims accounts, tens of thousands of dollars at a time. Save my name, email, and website in this browser for the next time I comment. The FBI has arrested 33 individuals across Texas for a series of cybercrime-related activities, including BEC and romance scams. VideoWatch: Record numbers of guide dog volunteers after BBC story. Crimes like these are especially despicable because they rely not only on victims lack of internet savvy, but also, their isolation, their loneliness, and sometimes their grief. All rights reserved, In 2020, Nigeria lost 5b to fraud in 9 months: What you need to watch out for, Journalist feasting on tech, business, and policies. They were accused of grossly conducting romance schemes to defraud and steal from unsuspecting older American adults. Many of these fraudsters - dubbed "yahoo-boys . The suspects also engaged in online romance scams, operating on dating sites such as Match.com, ChistianMingle, JSwipe, and Plenty of Fish. A total of over N5.2 billion was reportedly lost to fraud during the first 9 months of 2020. The neighbour was woken up by the sound of dogs barking when the brothers' homes were raided on Tuesday. NIBSS asserts that fraudsters are also leveraging the recent surge in POS usage through agency banking. Obinwanne Okeke, also known as Invictus Obi, used Nigerian-based companies to defraud people in the US. Consequently, Nigerian financial services companies lost 5.2 billion to fraud between January and September 2020. "We ask those accused in Nigeria to voluntarily turn themselves in to American authorities to clear their names, without which the Nigerian government should extradite them if relevant international treaties between the two governments are invoked.". Read about our approach to external linking. Nigerian fraudsters have been harvesting hundreds of thousands, if not millions, of business email account logins, policy say. F ormer Georgia gubernatorial candidate Stacey Abrams is in Nigeria watching the presidential elections as an international observer.. Abrams, who infamously cast doubt on the 2018 gubernatorial . Joseph Akeredolu is part of a gang that creates fake accounts on social media lures people through the accounts and then dupes them under the pretext of sending gifts, According to Indian police, [] The company claimed that one of those arrested had previously been apprehended by the FBI in 2018. The 81-year-old stepped aside in January to allow the French government to conduct an audit of the federation. Looking to chat? Associate editor at Forbes, covering cybercrime, privacy, security and surveillance. Those named should be handed to the US to face a trial, Abike Dabiri-Erewa, who heads the Nigerian government's diaspora commission said in a statement. Finland chose to erect the fence in response to an increase in Russians attempting to avoid conscription to fight in Ukraine. Read about our approach to external linking. to 60 months in prison by a court in the United States. "Once a week about 10 luxury cars would arrive and leave again in a few hours. As more innovative platforms arise, it advises that potential points of vulnerability are proactively engaged to boost confidence in digital financial services. Lyon president Jean-Michel Aulas said Infantino had seized the chance to utilise Noels qualities, adding if that implies indirectly that it comes at a good moment for Noel, its a wonderful thing. ABUJA, July 29 (Reuters) - A Nigerian police chief has denied involvement in what a U.S. indictment describes as an elaborate scheme to defraud a Qatari businessperson of more than $1 million,. Another video from a hospital shows a teenage girl lying dazed on a bed, with her mother beside her. South Africa's TimeLive reported the Hawks were searching for a ninth man connected to the case. Copyright 2023 | The Record from Recorded Future News, 106 members of four Italian mafia organizations, Suspected Chinese state-linked threat actors infiltrated major Afghan telecom provider, Microsoft adds novel feature to Exchange servers to allow it to deploy emergency temporary fixes, Canadian book giant says employee data was stolen during ransomware attack, Washington state public bus system confirms ransomware attack, Streaming service Plex unaware of any unpatched vulnerabilities following LastPass report, Victims of MortalKombat ransomware can now decrypt their locked files for free, US Marshals Service becomes latest law enforcement agency hit by hackers, CISA red-teamed a large critical infrastructure organization and didnt get caught, Minneapolis Public Schools still investigating what caused encryption event, More trouble from an APT with Colombia and Ecuador on its mind. Two Nigerians arrested for wire fraud in U.S. VideoAt the crash site of 'no hope' - BBC reporter in Greece, Sake brewers toast big rise in global sales, The Indian-American CEO who wants to be US president, How 10% of Nigerian registered voters delivered victory, Blackpink lead top stars back on the road in Asia, Exploring the rigging claims in Nigeria's elections, 'Wales is in England' gaffe sparks TikToker's trip, Ukraine war casts shadow over India's G20 ambitions. They assumed fake names and trolled dating sites like Match.com, ChistianMingle, JSwipe, and PlentyofFish, searching for targets. Perhaps the best-known Nigerian BEC fraudster is Ramon Hushpuppi Abbas, who found fame as an Instagram influencer, but was charged with conspiring to launder hundreds of millions of dollars from BEC frauds and other scams. Required fields are marked *. Najarian estimated that half are unwitting partners of puppeteers in Nigeria, South Africa or the United States. Romance scams are often difficult to prosecute because victims are often embarrassed, feel duped, and dont want to come forward.. He pled guilty to money laundering in mid-2021. US officials said the group had been active since at least January 2017 and engaged in a wide range of fraudulent schemes, such as business email compromise (BEC), investor scams, and unemployment insurance fraud. 24/7 coverage of breaking news and live events. Millennials account for around 35% of fraud cases in the US. The Federal Bureau of Investigation (FBI) has arrested 35 Nigerian internet fraudsters for their alleged involvement in a romance scam worth $17 million in the United States.. Mr Lewis said some of the men were not lawfully in South Africa since their passports have expired. This Monday, the prosecutor general announced the launch of a criminal inquiry. Catch up on the developing stories making headlines. 2021 Types of Fraud Total Number of Cases Reported Involving Bank S taff Only Involving Outside Persons . By. worked with North Korean hackers to launder funds stolen from a Maltese bank, pled guilty to money laundering in mid-2021. Who was St David, the patron saint of Wales? Using photos, text, and video dynamically, the site informs and prompts concerned African citizens and activists globally to act, denouncing officially-sanctioned corruption, the material impoverishment of its citizenry, defilement of the environment, and the callous disregard of the democratic principles enshrined in the constitution. The existing wooden barriers are mostly used to keep cattle from crossing the border. All he had to do was make a list of real people and then search through available databases of hacked information for their Social Security numbers and birthdates. Reports from eCommerce heavyweights, Jumia, and big tech giant, Google, suggested an increase in online activities during the lockdown period. As the victims open their hearts, the perpetrators open their wallets, Acting U.S. Attorney Prerak Shah said at a press conference announcing the charges. The FBI investigation is a major step to disrupt criminal networks, US Attorney Nick Hanna said. These so-called BEC scams help criminals find a way to intercept emails, either via hacking into accounts or spoofing email addresses, and trick companies into sending funds to the fraudsters rather than business partners with whom they believed they were interacting. More than 100 victims have lost an estimated R100 million (6.8 million US dollars) in the scams since 2011. Finland has moved to fortify its eastern border since Russias full-scale invasion of Ukraine. BBNaija Season 6: Check Out Latest News For Day 63, And Week Recap. The Border Guard expects a 3km prototype project at Imatra to be finished by the end of June. Facebook Twitter On October 9th, 2019, a Federal High Court sitting in Abuja, Nigeria ordered the temporary forfeiture of N280M (approximately $800,000) found in his personal and corporate accounts to the Federal Government of Nigeria for fear of its 'dissipation by his cronies' pending the outcome of his trial. These victims were made to build trust with the scammers as they would pose interest by sharing a fake snivel story and then requesting a large sum of money. Shah encourages victims to come forward and reassures them that the scams are more common than one might think, disclosing that more than 20,000 people lost $600million in romance scams in 2020. According to court documents, these defendants allegedly preyed on elderly victims, many of whom were widowed or divorced. Nicknamed "yahoo-yahoo" after the international web portal and search engine, this perfidy has become a way of life for the young con-artists. Internet fraud, identity theft, and bank fraud, among other crimes, are all prohibited under federal law. Key Points Consumers reported losing more than $5.8 billion to fraud in 2021, a 70% increase over the prior year, the Federal Trade Commission said Tuesday. Engaging in an online romance scam might result in criminal charges being brought against you in court. Since then, more than ten girls schools in the neighboring province have been attacked. The Federal Bureau of Investigation has nabbed Nigerian medical doctor, Patrick Nwaokwu, for his alleged involvement in multimillion-dollar healthcare fraud. Furthermore, the Black Axe arrests in the US represent the second crackdown against an international crime syndicates cybercrime operations. 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