Fun

Interpol Nigeria boosts cybersecurity with virtual asset training

News Feed - 2024-05-11 09:05:22

Amaka Nwaokocha11 hours agoInterpol Nigeria boosts cybersecurity with virtual asset trainingThe training will enable officers to effectively address cybercrimes involving virtual assets, particularly stablecoins.930 Total views5 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe Nigerian Interpol, cybersecurity experts, and other members of the local intelligence community met to brainstorm ways to tackle the rising waves of cybercrime in the country.


The brainstorming, which took place in the nation’s capital, Abuja, under the training platform organized by A&D Forensics in partnership with the Africa Stablecoin Consortium, was said to have been designed to position the Nigerian Interpol on how to mitigate crimes involving virtual assets, particularly stablecoins.


According to blockchain specialist Chioma Onyekelu, the training session aimed to empower Interpol agents with the skills to leverage blockchain intelligence and analysis in tracing and prosecuting cybercriminals involved in cryptocurrency transactions, specifically those using Bitcoin and stablecoins.Source: Africa Stablecoin Consortium


Onyekelu stated that cybercrime has evolved beyond traditional fiat currency, with criminals now exploiting virtual assets to commit various cyber offenses. As Nigeria’s Interpol receives cybercrime requests from international partners, it is crucial to enhance their capabilities through targeted training sessions.


Given Nigeria’s growing involvement with virtual asset exchanges, Onyekelu explained that the training will enable officers to effectively address cybercrimes involving virtual assets, particularly stablecoins.


Adedeji Owonibi, Senior Partner at A&D Forensics, told the press that the training was imperative due to the rising cybercrime trends in the country. He pointed out that,“A significant gap exists between the evolving cybercrimes and the capabilities of law enforcement agencies in Nigeria. As responsible corporate citizens, we recognized the need to bridge this gap and support our law enforcement agencies in staying updated and effectively combating cybercrimes.”


Regarding the controversies generated by the recentintroduction of the cybersecurity Levy, Owonibi argued that while cybersecurity may be controversial, the government has the authority to make decisions on matters that impact national security, emphasizing the importance of prioritizing the nation’s security interests.


Related:Ghana’s crypto stamps honor king’s Silver Jubilee


On Monday, the Central Bank of Nigeria (CBN) mandated banks and other payment service providers to begin deducting 0.5% of the total value of electronic transactions and remit to the National Cybersecurity Fund to be managed by the Office of the National Security Adviser (ONSA).


Nigeria’s Securities and Exchange Commission (SEC) is cracking down on cryptocurrency, banning peer-to-peer exchanges that use the naira, signaling a significant regulatory shift.


The International Monetary Fund (IMF) recently recommended that Nigeria embrace crypto adoption through licensing global cryptocurrency exchanges as a part of its economic reformation measures.


Magazine:What do crypto market makers actually do? Liquidity, or manipulation# Blockchain# Cryptocurrencies# Government# Nigeria# Cybercrime# CybersecurityAdd reaction

News Feed

Arijit Sarkar54 minutes agoDeFi protocol Arcadia Finance hacked on Ethereum and Optimism for $455KA loophole in the code allowed the hacker to drain funds worth roughly $455,000 from Arcadia’s Ethereum and Optimism vau
IMF Head Says Central Bank Digital Currencies Are Reliable, Hard to Think of Bitcoin as Money
IMF Head Says Central Bank Digital Currencies Are Reliable, Hard to Think of Bitcoin as Money Digital currencies backed by central banks are the most reliable form of digital money
Derek Andersen2 hours agoInspector General wants FDIC to refine crypto risk assessment process, guidanceThe bank deposit insurer should assess the sufficiency of its risk mitigation measures and then provide them in a mo
Bitcoin demand in Argentina reaches highest point in nearly two years
Ciaran Lyons3 hours agoBitcoin demand in Argentina reaches highest point in nearly two yearsBitcoin remains in demand among Argentines as the ARS has lost fourfold value against the US dollar in the last year, dropping f
Prashant Jha1 hour agoCurve Finance to reimburse users, another DeFi hack, and ConsenSys launches L2: Finance RedefinedThe DeFi ecosystem had another exploit of over $2 million on a stablecoin liquidity pool this past we
FTX EU Launches New Website for Withdrawals as Subsidiary Starts Returning Funds to Customers
FTX EU Launches New Website for Withdrawals as Subsidiary Starts Returning Funds to Customers FTX’s European subsidiary, FTX Europe, has launched a new website, ftxeurope.eu,
Cryptocurrency and Safety Money, Bitcoin Vault Breaks Stereotypes
Cryptocurrency and Safety Money, Bitcoin Vault Breaks Stereotypes Cryptocurrency theft has boomed over the past couple of years and this is no hoax. Over USD 1.4
Southeast Asia’s Largest Bank DBS Plans to Launch a Cryptocurrency Exchange
Southeast Asia"s Largest Bank DBS Plans to Launch a Cryptocurrency Exchange The Singaporean multinational banking and financial services corporation DBS publishe
Argentina Government Refuses to Pay $4M Bitcoin Ransom to Hackers Who Paralyzed Its Borders
Argentina Government Refuses to Pay $4M Bitcoin Ransom to Hackers Who Paralyzed Its BordersThe government of Argentina has reportedly refused to pay a $4 million bitcoin ransom dema
Ethereum rally to $3,700? Unlikely, say 2 derivatives metrics
Marcel Pechman10 hours agoEthereum rally to $3,700? Unlikely, say 2 derivatives metricsEther derivatives were unable to maintain elevated levels of optimism, despite the potential spot ETF and recent macroeconomic data.7
‘Not a classic VC’: Tether plans to invest up to $1B in one year
Helen Partz9 hours ago‘Not a classic VC’: Tether plans to invest up to $1B in one yearTether’s VC arm has already spent about $2 billion on tech like AI and alternative financial infrastructure over the past two ye
Turner Wright8 hours agoBankruptcy judge signs off on order allowing Terraform Labs to subpoena FTX entitiesTerraform Labs claimed that the failures of its algorithmic stablecoin and governance token were the result of a