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Experts show how to catch cyber criminals

Experts show how to catch cyber criminals

As technology advances, so has the ease and efficiency of commerce improved but it has also created opportunities for criminal organizations to exploit loopholes in the technology for their own personal gain, according to U.S. Embassy Deputy Chief of Mission in Namibia, John Kowalski.
Kowalski was speaking at the opening ceremony of a Financial Crimes Training Seminar presented by the US Secret Service to Namibian law enforcement officers, Bank of Namibia officials and members of the private sector,earlier this week in Windhoek.
Remarks were also provided by the Deputy Inspector General of the Namibian Police Major General Desiderius Shilunga, and the Deputy Director of the Bank of Namibia Mr. Bryan Eiseb.
The three-day seminar focused on identifying counterfeit currency, the use of digital currency by criminal organizations, credit card skimming, ATM hacking, online banking fraud, money laundering and financial fraud.
The expert presenters provided techniques and tools to combat increasingly sophisticated transnational criminal organizations and cybercriminals trying to exploit the financial system in Namibia.
“Protecting the integrity of the world’s financial systems leads to increased peace and stability,” commented Kowalski adding that the actions of cybercriminals and terrorists do not stop at legally defined international borders like they do for law enforcement officers or banking officials.
“That is why nations must work together to combat these criminal alliances and solidify the finance sector from their influence,” he said.
According to the Bank of Namibia, bank fraud cases increased to 251 in 2015, up from 178 recorded in 2014 and these frauds were increasingly being perpetrated electronically via Electronic Fund Transfers, hacking, or malware invasions
Meanwhile, Check Point Software Technologies, the largest global pure-play network security cyber vendor, ranks Namibia as second in the world for the greatest threat of a cyber-attack. The company also revealed that Namibia was the country most targeted by cyber-attacks in December 2015.

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

Promotion

20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.