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Sophos Investigates Two Active Cyberfraud Operations Cashing in on Crypto-Romance Cons

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Sophos, a global leader in innovating and delivering cybersecurity as a service, on Monday released details of two expansive, still operational, pig butchering or sha zhu pan rings (elaborate and lengthy financial fraud scams that can cost victims thousands of dollars) that scammers are operating from Asia.

One of the rings, based in Hong Kong, involves a fake gold trading marketplace, while the other, based in Cambodia and with ties to Chinese organized crime, netted the scammers $500,000 in cryptocurrency in just one month.

In both schemes, the scammers targeted Sophos’ principal threat researcher, Sean Gallagher, directly via Twitter and text message, respectively, rather than dating apps, the traditional method used to find and target victims. Part one of a two-part series, “Fool’s Gold: Dissecting a Fake Gold Market Pig Butchering Scam,” released today, focuses on the inner workings of the ring based out of Hong Kong, which demonstrates how these scammers are upping their technical sophistication to lure in and con targets.

“For two years, we’ve been following and reporting on a subset of these pig butchering schemes called CryptoRom.

“This is a particular flavor of pig butchering that relies on romance-based lures with scammers approaching potential victims on dating apps and then asking them to invest in fraudulent crypto trading apps.

“But CryptoRom is really just the tip of the iceberg. Since the start of the pandemic, this type of cyberfraud has massively expanded.

“These scammers are now targeting people on all major social media platforms or even direct message, and they’re not limiting themselves to just exploiting crypto but also gold and other forms of currency or trading value. They’re quite literally going after the whole hog,” said Sean Gallagher, principal threat researcher, Sophos.

In the first scam Gallagher investigated, he spent three months interacting with one of the scammers after they approached him directly on Twitter.

The scammer posed as a 40-year-old woman from Hong Kong who quickly attempted to move the conversation to WhatsApp. From there, the scammer tried to convince Gallagher to invest in a fake gold trading marketplace, touting her connections with her “Uncle Martin”—supposedly a former Goldman Sachs analyst.

She then directed him to a site that copied the branding of a legitimate Japanese banking company called Mebuki Financial, where the foreign exchange and commodity trading services were to be conducted.

While the social engineering of this scam was less polished than other cases Sophos has investigated, it showed a marked increase in technical sophistication for these types of groups.

The scammers used an elaborate combination of highly effective SEO, polished scam pages to “register” new clients on their fake Mebuki website, and a pirated version of a legitimate trading app (MetaTrader 4) with additional malicious code to steal money from their victims. They are also actively updating their operation’s scam infrastructure to avoid being shut down.

“Both scam rings are still operational and will be difficult to shut down. While we marked the domains and IP addresses being used by the attackers in the Hong Kong ring as malicious, their scam operations have already shifted to new domains.

“They already have a new download infrastructure in place for their pirated version of the MetaTrader app, so, at this point, we’re essentially playing ‘whack-a-mole’.

“Unfortunately, that’s the reality as these operations become broader in scope, targeting more regions and across different platforms. The move from crypto to gold also shows how easily these groups can find a new niche to exploit.

“That means the best defense is public awareness of these types of scams. People should be wary of any SMS, dating app, or social media direct message from a stranger who strikes up a conversation and then suggests moving it to WhatsApp or Telegram—especially if they make claims about wealth obtained from crypto or other trading,” said Gallagher.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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NCC Temporarily Suspends Issuance of New Licenses

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Nigerian Communications Commission (NCC) says it has temporarily suspended the issuance of new licenses in some categories.

NCC Temporarily Suspends Issuance of New Licenses

The commission said the categories included interconnect exchange license, mobile virtual network operator license and value added service aggregator license.

Reuben Mouka, director of Public Affairs, NCC,  in a statement in Abuja on Friday, said the commission acted in line with its powers under the Nigerian Communications Act (NCA) 2003.

“This temporary suspension is necessary to enable the commission to conduct a thorough review of several key areas within these categories, including the current level of competition, market saturation and current market dynamics.

“The public is invited to note that during the suspension period commencing on May 17, new application for the aforementioned licenses will not be accepted.

“This is without prejudice to pending applications before the commission will be considered on their merits.

“Any enquiry or clarification in respect of this suspension notice should be forwarded to: [email protected],” NCC said.

 

 

 

 


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Cable Cuts Expose Vulnerabilities in Africa’s Internet Infrastructure

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The vulnerability of East Africa’s countries was starkly revealed once again in the aftermath of the damage inflicted upon an undersea cable, leading to widespread internet outages across the region.

Cable Cuts Expose Vulnerabilities in Africa's Internet Infrastructure

According to Business Day Africa, this incident marks the third cable cut this year, plunging millions of users in Kenya, Uganda, Tanzania, and Rwanda into a state of connectivity limbo.

The disruption caused by the severance of two vital submarine cables- the East Africa Submarine System (EASSy) and Seacom, resulted in significant delays in internet access, so much so that operations at the US embassy in Dar es Salaam had to be suspended.

EASSy spans a staggering 10,000 kilometres along the eastern coast of Africa, boasting nine landing stations strategically positioned in Sudan, Djibouti, Somalia, Kenya, Tanzania, Comoros, Madagascar, Mozambique, and South Africa.

Tanzania bore the brunt of the outage, experiencing the most severe disruptions, as evidenced by data from the Internet Outage Tracker, compelling the embassy to halt its services for a period of two days.

This latest incident follows a series of challenges earlier this year when connectivity in East Africa was hampered by damage sustained by three submarine cables traversing the Red Sea.

Internet users in East Africa have been grappling with intermittent connections since Sunday, May 12, 2024.

The International Cable Protection Committee attributes the damage to a probable encounter with the anchor of a cargo ship, allegedly targeted by the Yemen-based Houthi rebel group.

However, repair efforts have been impeded by ongoing tensions surrounding access rights to the affected waters.

Commenting on the situation, Bright Simons, research lead at the IMANI Center for Policy and Education in Ghana, lamented the lack of a comprehensive regional framework for telecom emergencies in East Africa, according to SemaFor news.

He noted that despite the region’s advanced regional integration initiatives, similar to those seen in the Southern African Customs Union and Francophone units, the absence of such mechanisms has left operators scrambling to establish ad hoc cross-border arrangements.


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Nigeria’s Omoniyi Ibietan, elected Secretary-General of APRA

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Omoniyi Ibietan, Head Media Relations at the Nigerian Communications Commission, fellow of the Nigerian Institute of Public Relations (NIPR) and African Public Relations Association (APRA), has just been elected the Secretary-General of APRA at the ongoing 35th Annual Conference and Annual General Meeting taking place in Abidjan, Côte d’Ivoire.

Ibietan has promised to work with other members of the Executive Council to continue the trajectory of reforms in APRA, expand the democratic space by encouraging greater participation of national public relations institutions on the Continent and work more closely with the African Union Commission and Council of Ministers to put public relations at the heart of policy, programmes, and project implementation. Ibietan was elected into a three-man Executive Council. The other two members are Arik Karani (Kenya), President, and Dr. Michele Mekeme (Cameroon), Vice President.

OMONIYI P. IBIETAN is a journalist, writer, and author. As Head of Media Relations Management at the Nigerian Communications Commission (NCC), where he oversees aspects of the public communication strategy of the national regulatory authority for telecommunication in Nigeria. Earlier in Nigeria’s Fourth Republic, he was Special Media Advisor to the Federal Minister of Information and Communication.

He has over 20 years of experience in media and communication scholarship and practice, spanning journalism, academia, policy discourse, communication strategy, regulation, and stakeholder relations.

He earned BA and MA in Communication Arts and Communication & Language Arts from the Universities of Uyo and Ibadan in Nigeria, respectively, graduating atop his classes. Earlier, he obtained a diploma in journalism with distinction from the Moscow-Based International Institute of Journalism.

He holds a Ph.D. in Communication from the North-West University in South Africa, with specialisation in political communication. He is a IP3 certified regulation specialist and holds a mini MBA in telecommunications from NEOTELIS in Paris.

He is also a member of the African Council for Communication Education (ACCE), an Associate Registered Practitioner of Advertising (arpa) and member of the International Institute of Communications (IIC), the world’s only policy debating platform for the converged communications industry.

As a scholar, he focuses on patterns of political communication through new media; media and culture studies; and theoretical & normative foundations of communication in relation to democracy and freedom. He is on the faculty of the Nigerian campus of Italy-based Rome Business School (RBS), where he teaches doctoral students PR & Advertising and Media Management & Communication Strategy. He also facilitates learning to students in the Master of Corporate Communication programme at RBS.

His first book, SOCIAL MEDIA, SOCIAL DEMOGRAPHY, AND VOTING BEHAVIOUR IN NIGERIA, was published by Premium Times Books in Washington in May 2023.

He has travelled extensively in Africa, North America, Europe, and Asia.

He is married, has children, plays tennis and scrabble, loves reading and writing, and loves meeting people, especially people from other cultures.

At the ongoing conference, Ibietan presented the first paper at the commencement of business sessions. The title of his paper is DIGITAL INCLUSION AS ARBITER OF ACCESSIBLE PUBLIC RELATIONS: A CASE OF NIGERIAN COMMUNICATIONS COMMISSION.

Using Castells’ Theory of the Network Society and the Knowledge Gap Theory and based on the actions of the Nigerian government through the activities of the Nigerian Communications Commission (NCC), Ibietan advanced a thesis that digital inclusion is the arbiter of digital public relations.

Through implementation of laws, policies, guidelines, developmental regulation, collaborative partnerships, social investments, operational efficiency and ancillary actions that are consequential and quantifiable, and using copious pictorial evidence, Omoniyi discoursed a perspective that NCC’s digital inclusion programmes, projects and activities are foundational to digital economy because investment in and coordination of expansion of digital infrastructure, demonstrating their affordances and enhancing people’s access to such resources, constitute the building blocks and raison d’être of digital economy and inherently digital public relations.

APRA, the successor to the Federation of African Public Relations Association (FAPRA), instituted in Nairobi in 1975, exists to foster unity of Africans and their global allies through interactions and exchange of meaning. Pivoted on standardisation of public relations practice and scholarship on the Continent to enhance its relevance to the African reality, APRA member states and individuals meet annually at a location in any of its regional centres (East, North, South, West, Central, Indian Ocean Islands, and Francophone) to have a conversation with a thematic focus on any of its key intervention areas (Health & Education, Economic Integration, Good Governance, Tourusm & Leisure, and Infrastructure Development). This year’s theme is ‘ONE AFRICA, ONE VOICE: BRIDGING AFRICA’S COMMUNICATION DIVIDE’.

APRA Côte d’Ivoire 2024 is endorsed by the Government of Côte d’Ivoire, the Holding Opinion & Public (THOP), and major global PR associations, namely the International Public Relations Association (IPRA), The International Communications

Consultancy Organisation (ICCO), the Global Alliance for Public Relations and Communication Management (GA), the African Union Commission (AUC), and PR national associations across the continent.

Additionally, the conference featured the eighth edition of the Innovation Summit (IN2SUMMIT) and includes the seventh edition of the SABRE Awards Africa, holding tonight.

The APRA secretariat is in Nigeria, and the body maintains an observer status with the African Union.


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