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We stopped 281 Nigerian accounts in 2022 – Binance

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Binance has disclosed that it restricted 281 accounts belonging to Nigerians in 2022 due to money laundering concerns.

 

In a statement published on Binance’s website, the cryptocurrency exchange platform disclosed that its team visited Nigeria twice in the fourth quarter, conducting comprehensive law enforcement training sessions for officials of the Economic and Financial Crimes Commission.

 

Binance said 30 investigators attended each full-day session which gave the Nigerian anti-graft agency a detailed overview of its operations. They also claimed they trained Nigerian law enforcement on the intricacies of exchanges in the digital asset ecosystem.

Binance also expressed its eagerness to continue positive interactions, aiming to contribute to the prosperity of every Nigerian through ongoing collaboration and support for the nation’s fintech evolution.

 

The statement read;

 

“During these sessions, various case studies were presented, including those involving suspects from Nigeria. The positive feedback received from Nigerian investigators underscored their strong desire to sustain this cooperative format.

“Binance’s financial crime compliance teams processed 626 information requests related to Nigeria or from local law enforcement agencies between June 2020 and February 2024.

“The Nigeria Police Force, the Economic and Financial Crimes Commission, and INTERPOL Nigeria were among the many organisations that benefited from the information we supplied in their efforts to combat crimes ranging from money laundering, kidnapping, extortion, and scams.

“We worked closely with the authorities to safeguard users from illegal activity in a well-publicised action that occurred in January 2022, restricting 281 accounts that belonged to Nigerian residents because of worries about money laundering.

“Operating alongside established global players like Binance is deemed vital for the cohesive growth of this ecosystem, fostering a supportive environment for dynamic local startups.”

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Google wins legal bid to overturn 1.5 billion euro antitrust fine in EU digital ad case

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LONDON (AP) — Google won a court challenge on Wednesday against a 1.49 billion euro ($1.66 billion) European Union antitrust fine imposed five years ago that targeted its online advertising business.

The EU’s General Court said it was throwing out the 2019 penalty imposed by the European Commission, which is the 27-nation bloc’s top antitrust enforcer.

“The General Court annuls the Commission’s decision in its entirety,” the court said in a press release.

The commission’s ruling applied to a narrow portion of Google’s ad business: ads that the U.S. tech giant sold next to Google search results on third-party websites.

Regulators had accused Google of inserting exclusivity clauses in its contracts that barred these websites from running similarly placed ads sold by Google’s rivals. The commission said when it issued the penalty that Google’s behavior resulted in advertisers and website owners having less choice and likely facing higher prices that would be passed on to consumers.

But the General Court said the commission “committed errors” when it assessed those clauses. The commission failed to demonstrate that Google’s contracts deterred innovation, harmed consumers or helped the company hold on to and strengthen its dominant position in national online search advertising markets, it said.

The ruling can be appealed, but only on points of law, to the Court of Justice, the bloc’s top court.

The commission said in a brief statement that it “will carefully study the judgment and reflect on possible next steps.”

Google did not respond immediately to a request for comment. The company’s legal victory comes a week after it lost a final challenge against a separate EU antitrust case for its shopping comparison service that also involved a hefty fine.

They were among three antitrust penalties totaling about 8 billion euros ($8.9 billion) that the commission punished Google with in the previous decade. The penalties marked the beginning of an era of intensifying scrutiny for Big Tech companies.

Since then, Google has faced escalating pressure on both sides of the Atlantic over its digital ad business. It’s currently battling the Justice Department in a U.S. federal court over allegations that its dominance over the technology that controls the sale of billions of internet display ads constitutes an illegal monopoly.

British competition regulators this month accused the company of abusing its dominance in the country’s digital ad market and giving preference to its own services.

EU antitrust enforcers carrying out their own investigation suggested last year that breaking up the company was the only way to satisfy competition concerns about its digital ad business.

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“Hope Our Money Is Safe” — Nigerians React As Access Bank Changes Their Logo Twice In Less Than 3 Hours.

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Nigerians are buzzing with concern after Access Bank changed its logo twice in under three hours, sparking worries about the safety of their money.

In 2019, Access Bank unveiled a new logo after merging with Diamond Bank, signaling the beginning of a new era for the enlarged banking entity ¹. This change was part of the bank’s expansion strategy, which aimed to make Access Bank the largest bank in Africa by customer base.

Regarding the recent logo change, it’s essential to note that logo updates are common in the banking industry, especially when companies undergo significant transformations or rebranding efforts ². However, the swift reversal of the logo change has understandably raised eyebrows.

To alleviate concerns, Access Bank has not announced any changes to its operations or services that would impact customers’ funds. If you’re an Access Bank customer, you can visit their official website or contact their customer support for the latest information.

*Key Takeaways:*

– _Logo Changes are Common_: Banks and financial institutions often update their logos to reflect changes in their business strategy or branding.
– _Access Bank’s History_: The bank has undergone significant expansions and mergers, including the 2019 merger with Diamond Bank.
– _Stay Informed_: For the latest updates on Access Bank’s logo change and its potential impact on customers, visit their official website or contact customer support.

Remember, it’s always a good idea to stay informed and verify information through official channels to ensure your money’s safety.

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iPhone Xs | Xr are now on their 6th year receiving iOS updates

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The iPhone XS and XR are indeed receiving their sixth round of iOS updates, which is a testament to Apple’s commitment to supporting their devices with the latest software.

This is great news for users who have stuck with these models, as they’ll continue to receive security patches, new features, and performance improvements.

Not on par with Samsung or Google, but still very impressive

Of course, the new features those devices actually get is a different story

 

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