E-Business
Nigeria Makes List of Top 10 Countries with Highest Cases of Internet Scams
As the digital age progresses, internet scam have become a significant concern for individuals, businesses, and governments worldwide.
While providing numerous opportunities for communication and commerce, the internet has also opened the door for fraudulent activities that exploit unsuspecting victims.
The prevalence of online scams has led to financial losses, psychological distress, and a general erosion of trust in digital transactions.
In this landscape, certain countries stand out for their vulnerability to internet scams due to various socio-economic and technological factors.
According to Sanction Scanner, these top 10 countries have the highest cases of internet fraud, in no particular order.
India
India has witnessed an alarming rise in internet scams, particularly in the realms of online shopping, tech support fraud, and lottery scams.
With over 600 million internet users, the country has become a fertile ground for cybercriminals.
India faces a severe cybercrime challenge, recording $7.93 million USD. in losses across 4,850 cases in 2023, according to the National Crime Records Bureau (NCRB). Digital financial frauds alone amounted to $14.86 million USD over the past three years.
The government has initiated several awareness campaigns, but the rapid growth of digital infrastructure continues to challenge law enforcement agencies to keep up with the evolving tactics of scammers.
Brazil
Brazil’s financial ecosystem has been significantly impacted by internet scams, especially banking trojan attacks that infiltrate user accounts and syphon off funds. Cybercriminals exploit vulnerabilities in online banking systems, leading to millions of dollars in losses annually.
Brazil’s fintech boom has attracted cybercriminals. In 2023, 1.8 million banking trojan infections were recorded, as reported by Kaspersky Lab.
The introduction of the Pix payment system has revolutionised financial transactions but exposed users to malware attacks, with eight of the top 13 trojans globally originating from Brazil.
As the digital banking sector expands, Brazilian authorities are working to implement stronger cybersecurity measures, but the cat-and-mouse game with scammers remains a constant struggle.
Pakistan
The landscape of internet fraud in Pakistan has been marked by a surge in suspicious transaction reports, indicating a growing problem with financial crimes, including money laundering.
Pakistan’s Financial Monitoring Unit (FMU) reported 32,072 suspicious transaction reports (STRs) in 2023.
Fraudulent activities involve money laundering and terrorist financing schemes, reflecting rising threats in both the financial and criminal sectors.
Despite government efforts to regulate and monitor online transactions, the lack of awareness among the populace often leads to individuals falling victim to these schemes.
This has created a pressing need for enhanced cybersecurity education and more robust regulatory frameworks.
South Africa
In South Africa, internet scams have manifested primarily through identity theft and online auction fraud.
The rise of social media platforms has provided scammers with new avenues to target victims.
Ranked 7th on the Global Criminality Index (2023), South Africa faces escalating identity theft and credit card fraud. Fraudulent loan applications and phishing attacks are widespread, exacerbated by vulnerabilities in online platforms and digital banking systems.
South African authorities have ramped up efforts to combat cyber fraud through public awareness campaigns and stricter regulations, yet the prevalence of scams continues to challenge consumers and businesses alike.
Morocco
Morocco faces a troubling rise in online scams, particularly those involving identity theft and fraud through social networks.
Many Moroccans lack awareness of the tactics employed by fraudsters, leading to increased victimisation.
Fraudulent activities are growing, with the Unit for the Processing of Financial Information (UTRF) monitoring suspicious transactions linked to money laundering and embezzlement.
The government is beginning to address these issues, but as the digital economy grows, so too does the need for comprehensive cybersecurity education and preventive measures.
Romania
Romania has emerged as a significant player in the realm of internet scams, characterised by complex networks of financial fraud, money laundering, and identity theft. While the country has made strides in improving its cybersecurity infrastructure, the sophistication of scams has outpaced regulatory efforts.
Romania’s vulnerability to business email compromise (BEC) scams and money laundering is significant. Europol reports highlight cases involving human trafficking and financial fraud.
Ongoing initiatives to combat these challenges are vital for restoring trust in Romania’s digital environment.
Nigeria
Known for its notorious “419” scams, Nigeria continues to battle a reputation fraught with issues related to cyber fraud.
Scammers often target individuals both locally and internationally, employing tactics that promise lucrative returns in exchange for upfront fees.
The Nigerian Financial Intelligence Unit struggles with enforcement due to institutional corruption. Educational initiatives aimed at raising awareness among citizens about online scams are critical to changing perceptions and reducing victimisation.
Venezuela
The dire economic situation in Venezuela has led to a surge in internet scams, including credit card fraud and various government-related schemes.
As citizens grapple with financial instability, scammers exploit their vulnerabilities, preying on desperate individuals seeking financial relief.
With frequent cases of identity theft, credit card fraud, and government-related corruption, narcotics trafficking exacerbates financial crimes, as the Unidad Nacional de Inteligencia Financiera (UNIF) works to monitor suspicious activities.
E-Business
Vatican Says AI Possesses ‘Shadow of Evil’, Calls for Careful Regulation
The Vatican has issued new guidelines on the use of artificial intelligence (AI), warning about the potential for “the shadow of evil” in the technology, which it said offered “a source of huge opportunities but also profound risks.”
AI can fundamentally make a positive contribution in various areas of societal life, according to a newly published document.
“Yet, as in all areas where humans are called to make decisions, the shadow of evil also looms here.”
In the new document meant to admonish the Catholic faithful, the church warned that the technology should be used to complement human intelligence, “rather than replace its richness.”
The document was approved by Pope Francis, who has repeatedly warned that the application of artificial intelligence should be grounded in ethical and moral considerations.
“In all areas where humans are called to make decisions, the shadow of evil also looms here,” the Vatican said in the paper.
It added, “The moral evaluation of this technology will need to take into account how it is directed and used.”
The paper “is a synthesis of a lot of the existing materials that have been developing organically over the last while,” drawing on Francis’s past statements and writings to look at A.I.’s effect on relationships, education, warfare and work, said the Rev. Paul Tighe, one of the people who worked on it.
The paper according to New York Times was written over six months by a Vatican team in consultation with various experts, including those in A.I.
In light of the dangers, the document with the Latin title “Antiqua et Nova” (Old and New), states that governments and international organizations should ensure AI is used for the benefit of all.
“This issue requires careful regulation, as misinformation — especially through AI-controlled or influenced media — can spread unintentionally, fuelling political polarization and social unrest,” the document warned.
However, the head of the Catholic Church frequently warns of the dangers of AI in public appearances and seeks to bring ethical concerns surrounding the technology to the forefront.
E-Business
Kaspersky Shares Tips to Stay Safe While Using AI Assistants
The new DeepSeek AI assistant has attracted a lot of attention in recent days. Kaspersky experts have also detected scam activity related to it.
Due to high numbers of new users and an alleged cyberattack on DeepSeek, there are glitches in the registration process on DeepSeek’s app and website – many registrations cannot come through.
This situation can be used by cybercriminals to steal the credentials of users through fake DeepSeek web pages.
Through such fake registration pages, attackers can collect users’ emails and passwords. These can be exploited to access users’ accounts – on DeepSeek or in other services (if the password is the same for multiple accounts).
There were also several new crypto tokens based on the DeepSeek hype available for sale. They are not tied to the DeepSeek brand officially, hence their capitalisation is speculative.
Such scam schemes like creating phishing emails are quite widespread with popular AI models – it’s important to recognize that cybercriminals will inevitably seek to exploit such tools for malicious purposes.
“What stands out in the case of DeepSeek is its open-source nature. While open-source frameworks foster transparency, collaboration, and innovation, they also introduce significant security and ethical risks.
“When you’re using an open-source tool, you can’t always be sure how your data is being handled, especially if someone else has deployed it,” comments Leonid Bezvershenko, Security Researcher, Kaspersky GReAT.
“Exploitation of open-source software was a major trend in the threat landscape last year, with cybercriminals running complex campaigns to embed malware. In 2024, our open-source scanner detected over 12,000 malicious packages in open repositories.
“Without centralised oversight, threat actors can start creating compromised versions of software or introduce backdoors under the guise of tools for using the API of DeepSeek, presenting serious risks to users and organisations.”
E-Business
NDPC @ 2025 Data Privacy Day, Calls for Collaboration on Awareness
Nigeria Data Protection Commission (NDPC) has called for increased collaboration to raise awareness and foster data privacy and protection across Nigeria.
The call was made by Dr. Vincent Olatunji, national commissioner, NDPC, during an event marking the 2025 World Data Privacy Day in Lagos.
World Data Privacy Day, observed globally on January 28 every year, serves to highlight the importance of data privacy.
The theme for this year’s observance was “Respecting Privacy, Safeguarding Data, and Enabling Trust.”
Olatunji, who joined the event virtually, stressed that collective action was required to prioritise data privacy in order to attract foreign direct investment into Nigeria.
In his speech, Olatunji outlined the importance of protecting personal data, emphasising that everyone must understand how to safeguard their personal information.
“We need to know how to protect our personal information and data and make sure that we do not share personal information anyhow,” he said.
He also urged data controllers and processors to ensure the protection of data under their care.
Olatunji further discussed the necessity of developing a robust digital economy in the country, which depends on a comprehensive approach to data management, policies, and strategies.
“We all need to work together to make it happen,” he added.
Highlighting the Commission’s progress, Olatunji noted that over 10,000 people had been trained, to create 500,000 jobs in the Nigerian economy through data protection initiatives.
Mr. Tokunbo Smith, president, Data Knowledge Information Privacy Protection Initiative (DKIPPI), also spoke at the event, urging Nigerians to make full use of the Nigeria Data Protection Law, which was passed in June 2023.
Smith praised President Bola Tinubu for signing the law into effect, calling it a “day of freedom for Nigerians.”
He highlighted the law’s provision that empowers individuals to take legal action against anyone who misuses their personal data.
Smith also commended the NDPC for its efforts in training data protection officers and providing certification exams, encouraging Nigerians to leverage these opportunities to protect their data and explore career paths in data protection.
Mr. Fiyinfolu Okedara, guest speaker, further emphasised the need for continuous awareness of data privacy.
He explained that data protection should be an ongoing process, not just a one-time event.
Okedara urged both organisations and individuals to prioritise data privacy education year-round, rather than only on World Data Privacy Day.
During the panel discussion, Mr. Gbenga Sesan, executive director, Paradigm Initiative, stressed that respecting data privacy is a shared responsibility.
He urged people to safeguard their personal data by not writing it down carelessly and to foster trust by ensuring data protection is prioritised.
Mr. Olumide Babalola, another panelist, raised awareness about the future implications of data privacy, predicting a time when children might sue their parents for creating digital footprints for them.
He stressed that consent should always be obtained before adding someone to a WhatsApp group, as failing to do so would constitute a breach of privacy.
The event aimed to foster greater awareness of data privacy and promote best practices among individuals and organisations, ensuring that data protection remains a priority in Nigeria’s evolving digital landscape.
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