Telcos and fintechs admitted the vulnerabilities and loopholes in their systems that cybercriminals exploit.
Banking fraud, which caused losses totaling more than £833 million over the last four quarters, was the most prevalent sort of fraud, according to the report.
Many people still feel safe online and believe that cybercrime will not affect them personally
The arrest of the syndicates follows repeated reports of incessant burglary incidents in the state capital of Akure.
Argentina’s Vice President Cristina Fernández de Kirchner was sentenced to six years in prison on Tuesday after being found guilty of fraud.
Among his list of clients are President and First Lady Muhammad and Aisha Buhari, Davido and former Victoria Secret model, Oluchi.
Items recovered from the suspects include eight exotic cars, laptops, phones and various electronic gadgets of different brands.
![EFCC Officials used to illustrate the story. [PHOTO CREDIT: The Guardian Nigeria]](https://gazettengr.com/wp-content/uploads/2020/10/EFCC-Officials.jpg)
Mr Runsewe is proposing “native solutions” to curb internet fraud, rape and other vices.
If caught and convicted, Chidozie Collins Obasi, 29, faces a maximum sentence of 621 years in prison, a five-year period of supervised release, and a $5,750,000 fine.
Hushpuppi’s record seen by Peoples Gazette as part of his memorandum opposing prosecution’s sentencing recommendations showed he performed well and related well with other inmates.
