Samsung bought 4% of a Chinese electric-car maker. The South Korean giant paid $449 million for a stake in BYD, which could help with its chip business for electric cars. BYD is backed by Warren Buffett’s Berkshire Hathaway.
Using smartphone to steal $2M ATM Cash
Daily, things happen in this world. Taiwan is trying to figure out how hackers managed to trick a network of bank ATMs into spitting out millions.
Police said several people wearing masks attacked dozens of ATMs operated by Taiwan’s First Bank on Sunday. They spent a few minutes at each of the machines before making off with the equivalent of $2 million stashed in a backpack.
They didn’t use bank cards but rather appeared to gain control of the machines with a “connected device,” possibly a smartphone, the police said in a statement Thursday. Authorities are now hunting the thieves.
Nigerian currency Naira continues to fall
The Naira on Wednesday dipped further against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports.
It lost 4 points to exchange at N357 to the dollar, from N353 it traded on Monday.
The Nigerian currency also weakened further against the Pound Sterling and the Euro as it exchanged at N462 and N385 respectively, from N460 and N383 it traded on Monday.
At the official interbank window, the Naira closed at N283.42 to a dollar.
Traders at the market cited the scarcity of the greenback as reason for the extension of loses of the Naira.
Nigeria to deploy vehicle registration card program
HID Global, a secure identity solutions, recently announced that it has partnered with Media Concepts of Lagos, Nigeria to deploy mobile IDs on Nigerian citizens’ smartphones using the new HID goID platform. Mobile IDs will be issued through the Nigerian Police Biometric Central Motor Registry (BCMR) vehicle registration card program, which provides real-time access to vehicle/vehicle owner information via credentials and mobile readers powered by Seos. The BCMR card program is moving from pilot phase to full implementation with the expectation to register all motor vehicles as the project rolls out nationwide.
This program in Nigeria is the first of several programs that HID Global will be announcing across the world in support of the company’s mobility initiative launched last month, including the new HID goID™ solution that enables smart devices to securely carry government-issued IDs and conduct transactions not possible using a physical card.
The Nigerian Police BCMR is a biometrically-enabled, real-time information system designed to enhance the reliability and effectiveness of policing. The BCMR vehicle registration program marks the beginning of a major deployment of vehicle registration cards and mobile readers that are powered by Seos technology.
Simultaneously, the Nigerian police are launching the program to offer citizens a secure and convenient mobile ID option. Citizens can apply for a mobile ID at the time of vehicle registration. Once registration is complete, issuance of the mobile ID to a citizen’s smartphone is almost instant, which bridges the gap between registration and receipt of the physical card.
The Nigerian Police will be issued smartphones as mobile readers to verify a vehicle owner’s ID and at the same time gain real-time access to reliable accident, crime or insurance information on the vehicle. The readers will sit in a specially designed cradle to accommodate the citizen’s biometrics stored on the card or mobile ID.
This chart shows why GTBank is Nigeria’s leading bank and Union Bank Plc may not see another decade
This chart shows why GTBank is Nigeria’s leading bank and Union Bank Plc may not see another decade. When you look deeper, you will agree that GTBank has the best cost-to-income ratio in the industry.