ESET Highlights New Ways to Spot Cryptocurrency Scam as EFCC Arrests 792 Suspects
Emma Okonji
ESET, a global leader in digital security, has provided insights into the rising threat of online scams, insisting that those employed to carry out online fraud, sometimes are unaware of the fraudulent activities of their employers.
The Managing Director for West Africa at ESET, Mr. Olufemi Ake, revealed this in Lagos, while reacting to the recent arrest of 792 individuals, which include 148 Chinese and 40 Filipino nationals, by the Economic and Financial Crimes Commission (EFCC), for allegedly involved in a global fraud network.
EFCC had last week, conducted a large-scale raid on the Big Leaf Building in Lagos, identified as a key hub for fraudulent activities.
The arrested suspects were alleged to have operated a complex scam ring that deceived victims through fraudulent romance offers and cryptocurrency investment schemes.
Reacting to the development, Ake explained that fraudsters often use dating sites and social media platforms to assume false identities, making it increasingly difficult to detect their deceptive tactics, adding that the fraudsters frequently employ psychological manipulation and advanced artificial intelligence to build trust with their victims, thus further complicating efforts to apprehend them.
Ake noted that many of the Nigerian suspects involved in the fraudulent activities were unaware of the true identity of their employers, as they did not receive official letters of appointment or payments from corporate accounts.
This, according to him, highlights the need for employees to regularly vet their employers’ operatins to avoid being ensnared in fraudulent schemes.
As online criminals become more skilled at exploiting digital platforms, Ake advised individuals to remain cautious and informed to protect themselves from falling prey to increasingly sophisticated fraud tactics.
He recommended verifying identities through trusted channels, and further advised Nigerians to be skeptical of unsolicited investment opportunities, especially those involving cryptocurrencies, and to also ensure that their devices are equipped with up-to-date cybersecurity applications.
