Nigeria: Bank Fraud
In recent years, the volume and frequency of fraudulent practices in Nigerian banks have been on the increase. According to the Nigeria Deposit Insurance Corporation (NDIC), the level of reported fraud in Nigerian banks rose from N804m in 1990 to N3,199m in 1998. Furthermore, the proportion of actual/expected loss to the amount involved in fraud rose from 3 per cent in 1990 to 22 per cent in 1998. Perhaps the highest fraud ever reported in any particular year by a Nigerian bank occurred in 1998 when United Bank for Africa plc wrote off N786m on account of fraud. The growing scope and scale of fraud in the Nigerian banking industry is not surprising, given the rising profile of the country as a corrupt and fraudulent nation. For instance, a recent survey by Transparency International, a German‐based international organisation that interviewed business people worldwide, listed Nigeria as the second most corrupt country in the world. The country also has a poor reputation concerning drug trafficking. It has, for instance, been asserted that:
The Effects of Cybercrime on the Banking Sector in ASEAN
The main objective of this chapter is to investigate the effects of cybercrime on the banking sector in ASEAN. Global challenges on the evolution of cybercrime are in continuous dynamics in the case of emerging or developing countries, so that sustainable development plays an essential role. Moreover, the propagation effects can generate significant damages in the banking sector. Efficient bank management is essential in the context of providing advanced techniques for cyber security. Traditional cyber security measures are insufficient to ensure data protection and online information privacy. Consequently, investigations of cyber-criminal activity must become a priority especially in the context of globalization. The Effects of Cybercrime on the Banking Sector in ASEAN
Calyculins and Related Marine Natural Products as Serine-Threonine Protein Phosphatase PP1 and PP2A Inhibitors and Total Syntheses of Calyculin A, B, and C
Calyculins, highly cytotoxic polyketides, originally isolated from the marine sponge Discodermia calyx by Fusetani and co-workers, belong to the lithistid sponges group. These molecules have become interesting targets for cell biologists and synthetic organic chemists. The serine/threonine protein phosphatases play an essential role in the cellular signalling, metabolism, and cell cycle control. Calyculins express potent protein phosphatase 1 and 2A inhibitory activity, and have therefore become valuable tools for cellular biologists studying intracellular processes and their control by reversible phosphorylation. Calyculins might also play an important role in the development of several diseases such as cancer, neurodegenerative diseases, and type 2-diabetes mellitus. The fascinating structures of calyculins have inspired various groups of synthetic organic chemists to develop total syntheses of the most abundant calyculins A and C. However, with fifteen chiral centres, a cyano-capped tetraene unit, a phosphate-bearing spiroketal, an anti, anti, anti dipropionate segment, an α-chiral oxazole, and a trihydroxylated γ-amino acid, calyculins reach versatility that only few natural products can surpass, and truly challenge modern chemists’ asymmetric synthesis skills.