Tech

Tech Roundup: Chip shortage delays 5G

Implementation of 5G in major Brazilian cities is likely to take longer than first expected, as companies lack equipment amid semiconductor shortage

5g chip shortage
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This week. Brazilians have more to fear from cellphone theft in new age of banking apps. Lack of semiconductors to delay start of 5G in Brazilian capitals. Costa Rica declares national emergency after cyberattacks. 

Cell phone theft raises concerns for banking services

A Twitter thread went viral last week about a man in São Paulo who had his cell phone stolen, only to find out that he had lost so much more. Criminals broke into his banking apps, stole the money in his accounts and took out loans in his name, and ordered thousands of Reais in luxury food and drinks. 

Why it matters. Brazil is moving to make financial transactions easier, but that has led to a new type of crime around the country. Organized crime groups, noticing the profitability of said schemes, are recruiting people to steal cell phones and break into their banking apps, taking advantage of the newfound ease in transferring money to and from accounts.

The rise in theft cases. In the city of São Paulo alone, a cell phone is stolen every five minutes, according to the Brazilian Public Security Forum. Between January and February 2022 alone, city officials recorded 17,044 phone thefts — up 4.3 percent from the same period in 2020.

M.O. Gangs typically prey on distracted victims using their phones in public. Besides trying to access personal info to break into banking apps, they also use social media and messaging apps to try and scam people’s contacts, usually asking for money.

What the banks are saying. Nubank and Banco do Brasil, whose accounts were misused in the case which went viral, only stated that the man’s request to freeze his account was under analysis and would be answered within five working days.

What people are saying. Thousands of people...

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