Techpoint Africa explores ‘The Rise Of Nigerian Internet Scams’
In their latest mini-documentary, Techpoint Africa explored the rise of Nigerian internet scams. They spotlight one of the strangest scams to grace the planet, the Business Email Compromise. The mini-doc takes you on a journey to the root of every misconception you’ve ever heard about internet fraud. The mini-doc is broken down into chapters and […]
In their latest mini-documentary, Techpoint Africa explored the rise of Nigerian internet scams. They spotlight one of the strangest scams to grace the planet, the Business Email Compromise. The mini-doc takes you on a journey to the root of every misconception you’ve ever heard about internet fraud.
The mini-doc is broken down into chapters and the first chapter takes a look at Ramon Abbas or Hushpuppi as he is popularly known. It also brings up Obiwanne Okeke and his cybercrime syndicate. The same chapter also makes mention of some infamous scammers such as Charles Ponzi, P Crentsil, George C. Parker, Frank Abagnale, and The Roselli Brothers.
The second chapter, What is BEC?, breaks down the dynamics of the Business Email Compromise. It takes a look at false invoice schemes: where a negligent employee is sent a false invoice by attackers pretending a service has been provided. Ridwan Oyelede talks about how the BEC uses already popular phishing techniques but targets them at businesses. This chapter also points out that according to research firm AGARI, Nigeria accounts for over 50% of all BEC attack origins globally and 83% in Africa. It also goes on to explain how AGARI conducted its research and how much-unaccounted cases were left untested.
The third chapter, The way forward for the Nigerian prince, discusses the END SARS protests and how thousand of young professionals are taking the bull by the horn and using technology to build Africa’s future and change the narrative. It also looks at the causes of these crimes and how to prevent them. “So I think education is the way forward,” says Adewale Yusuf, co-founder and CEO of Alt School Africa.
