Malik Yahya/
The Nigerian Communications Commission (NCC) today raised the alarm that over 150 million Nigerians are at risk of being defrauded through telecommunications platforms.
NCC Executive Vice Chairman, Prof. Umar Danbatta, disclosed this in an address at the inauguration of a multi-sectoral committee on e-fraud in Abuja.
According to Dambatta, who was represented by Adeleke Adewolu, the integration of mobile apps with online payment platforms and other financial resources has rendered citizens vulnerable to financial fraud.
To effectively combat e-fraud, Danbatta said customer service and fraud operations teams in banks and the mobile network operators needed tighter processes and guidelines on how to detect potentially fraudulent activities.
He disclosed that NCC is collaborating with the Central Bank of Nigeria, the Nigeria Police Force, the Economic and Financial Crimes Commission, and other relevant agencies to fight e-fraud.
He said: “Mobile apps as a whole are now quite easy for hackers and cyber-criminals to hijack or corrupt, making them tools for fraudsters to steal personal credentials, impersonate genuine bank account holders, and gain illicit access to funds.
“Phishing tactics and social engineering ploys such as illegal SIM swap are part and parcel of the online fraud mechanism, regardless of whether the transactions are conducted via mobile phone, desktop browser, or point of presence.”
Recent data released by Enhancing Financial Innovation and Access had revealed that over 150 million Nigerians were included in the financial system.
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