The US Justice Department on Monday announced the arrest of 74 individuals, including 42 in the United States, for their involvement in "business email compromise" (BEC) schemes designed to steal money and valuable information from both businesses and individuals. In addition to the 42 in the US, the arrests included 29 in Nigeria, as well as three in Canada, Mauritius and Poland. Federal authorities also seized nearly $2.4 million, and they disrupted and recovered approximately $14 million in fraudulent wire transfers. The arrests were the culmination of "Operation Wire Wire," a six-month campaign that involved the DOJ, the US Department of Homeland Security, the US Treasury and the US Postal Inspection Service. In a statement, US Secret Service Director Randolph "Tex" Alles said the "explosive expansion of the cyber domain has forced us to develop innovative ways of conducting these types of investigations."
We are at an inflection point. An opportunity to break down barriers and democratize access to and ownership of goods and services. The metaverse will transform the way people connect, businesses grow, and creators make a living. And with it, bring about better social experiences than anything that exists today, and a digital economy that supports millions of creators and businesses. There's been good interest recently around how we might approach payments and financial services in the metaverse.