The move against fraudsters and internet criminals continued, as the United State Government has sanctioned 6 Nigerian nationals for engaging in cyber-crimes against American Businesses and individuals.
This was disclosed in a press statement by the US Secretary of State, Michael Pompeo, on Tuesday June 16, 2020.
The US Government noted that technological advancements, which have provided greater interconnectivity, have also offered greater opportunity for exploitation by some fraudsters who target Americans. Consequently, the Department of Justice and the office of Foreign Assets Control have taken action against 6 Nigerians for stealing over $6 million from victims across the United States.
According to the statement from US Secretary of State, “Today, in coordination with the U.S. Department of Justice, the Department of the Treasury’s Office of Foreign Assets Control took action against six Nigerian nationals, pursuant to Executive Order 13694 as amended, for conducting an elaborate online scheme to steal more than $6 million from victims across the United States.
“The six individuals designated today manipulated their victims to gain access to their sensitive information and financial resources.”
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The U.S. says that it will not tolerate this level of misuse of technology and will use all of the tools at its disposal to defend the American people and businesses from malign actors that seek to target them, including cyber-enabled actors who prey on vulnerable Americans and businesses.
The names of these 6 Nigerians who were disclosed by the office of Foreign Assets Control and are alleged to have committed those cyber-crimes include: Nnamdi Orson, Kayode Biola Ayorinde, Ogunshakin Alex Afolabi, Okpoh Felix Osilama, Olorunyomi Michael and Uzuh Richard Izuchukwu.
US Secretary of State issued this statement today: US Govt TODAY “took action” against 6 Nigerians “for conducting an elaborate online scheme to steal more than $6 million from victims across the United States.” https://t.co/ZEpFS7RA0l pic.twitter.com/unKRM3zSwZ
— tolu ogunlesi (@toluogunlesi) June 16, 2020
It can be recalled that in August 2019, the United States Government had charged about 80 people, mostly Nigerians, for criminal activities ranging from money laundering operations and internet fraud in transactions that were worth over $46 million.
COVID-19 Update in Nigeria
On the 24th of November 2020, 168 new confirmed cases and 1 death was recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 66,607 confirmed cases.
On the 24th of November 2020, 168 new confirmed cases and 1 death was recorded in Nigeria, having carried out a total daily test of 5,838 samples across the country.
To date, 66,607 cases have been confirmed, 62,311 cases have been discharged and 1,169 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 749,136 tests have been carried out as of November 24th, 2020 compared to 743,298 tests a day earlier.
COVID-19 Case Updates- 24th November 2020,
- Total Number of Cases – 66,607
- Total Number Discharged – 62,311
- Total Deaths – 1,169
- Total Tests Carried out – 749,136
According to the NCDC, the 168 new cases were reported from 10 states- FCT (61), Lagos (50), Kaduna (27), Oyo (12), Rivers (6), Katsina (5), Ogun (3), Kwara (2), Edo (1), Kano (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 23,018, followed by Abuja (6,576), Plateau (3,805), Oyo (3,715), Rivers (2,963), Kaduna (2,940), Edo (2,695), Ogun (2,156), Delta (1,823), Kano (1,777), Ondo (1,727), Enugu (1,332), Kwara (1,095), Ebonyi (1,055), Katsina (1,012), Osun (945), Gombe (938). Abia (926), Bauchi (753), and Borno (745).
Imo State has recorded 662 cases, Benue (493), Nasarawa (485), Bayelsa (445), Ekiti (354), Jigawa (328), Akwa Ibom (319), Niger (296), Anambra (285), Adamawa (261), Sokoto (165), Taraba (157), Yobe (94), Kebbi (93), Cross River (90), Zamfara (79), while Kogi state has recorded 5 cases only.
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
28 million merchants to be granted crypto usage on PayPal
PayPal CEO, Mr. Schulman recently hinted the company will allow the usage of crypto funding for 28 million merchants.
PayPal CEO, Mr. Schulman, recently hinted that the company would allow the usage of crypto funding for the 28 million merchants on its payments platform.
In a report credited to CNBC, the CEO of the payment juggernaut company elaborated further by saying, “Early next year, we’re going to allow cryptocurrencies to be a Funding Source for any transaction happening on all 28 million of our merchants and that will significantly bolster the utility of cryptocurrencies.”
The Chief Executive also disclosed that it was just a matter of time for digital currency to replace the old traditional forms of fiat currencies (paper money).
“As paper money slowly dissipates and disappears from how people are using transactions; Central banks, especially on the retail side, will need to replace paper money with forms of digital fiat currency.”
"As paper money slowly dissipates and disappears from how people are using transactions, central banks especially on the retail side will need to replace paper money with forms of digital fiat currency," says @PayPal CEO Dan Schulman. pic.twitter.com/pLuvc2RxPY
— Squawk Box (@SquawkCNBC) November 23, 2020
What this means
About a month ago, Nairametrics reported on PayPal Holdings Inc’s announcement that it would provide its users the opportunity to buy, hold, and sell cryptos directly from their PayPal accounts by early 2021.
It also hinted at a strategy to significantly boost its crypto’s utility capability, by making it readily available as a funding source for purchases with its 28 million clients globally.
In a press statement seen by Nairametrics, Dan Schulman, President and CEO, PayPal, gave key insights on why the global payment company was going crypto:
“The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access, efficiency, speed, resilience of the payment system, and the ability for governments to disburse funds to citizens quickly.”
Snap to pay video creators $1 million daily
Snap Inc. is reportedly releasing new functionality to its Snapchat app in enabling popular videos that would be termed as Spotlight.
The fast-growing public listed American social media company – Snap Inc., plans to release new functionality to its Snapchat app in order to enable popular videos that would be termed as Spotlight, and further disclosed it will pay $1 million per day to the creators of high performing videos.
According to Bloomberg, Snap revealed how content creators could earn such income with ease, as the level of entry was kept minimal, on the basis that video submitters to Spotlight do not need to have large followers or popular profiles.
What you should know
An algorithm from the app software will be the judge in realizing what videos Snapchat users will see based on how often Snap users view such videos.
If other snap chat users view the same content repeatedly, for example, that’s an alert it’s trending and this will trigger the algorithm to distribute it more widely.
What this means
The new feature will give Snapchat enough ammunition to fend off its rivals in an ever-changing competitive market for posting trendy videos online, which has been largely controlled by Google’s YouTube, Facebook Inc.’s Instagram, and China-based ByteDance Ltd.’s popularly known TikTok.
Tech Experts anticipate that such a new feature in its trendy app could generate more revenue for the company, as its recent earnings show it has 249 million daily active users in Q3 – such high numbers will attract global brands on advertising and enable more sponsored content.
The investors of the American social media company have earned high returns from its stock in 2020 alone, as its stock has almost tripled this year to a record $45.38million on the bias that an increasing number of young people spend more time on the app.