NCC, central bank move to tackle e-banking fraud

The Nigerian Communications Commission (NCC) and Central Bank of Nigeria (CBN) have stated their resolve to tackle issues of fraud on bank customers who use the electric banking system.
The two institutions also expressed worries over the activities of individuals that use the platform to defraud bank customers, vowing that they would tackle the menace through effective synergies and monitoring.
The institutionssaid this, on uesday, at a workshop on Electronic Banking Fraud in Nigeria – Challenges and way forward’, organised by the institutions, held in Port Harcourt, Rivers State.
Stakeholders at the workshop believed that effective collaboration by government agencies and private organisations was a tool to tackling the scourge, which has bedeviled financial institutions.
Eyes Of  Lagos gathered that, Speaking, the Executive Commissioner, Technical Services, NCC, Engr. Ubale Maska, expressed concerns over the activities of fraudsters who take on bank customers using smart phones for transactions.
He added that NCC has involved the CBN, Nigeria Police Force and other relevant agencies in the fight against e-banking fraudsters.
Maska, who spoke through the Director, Technical Standard and Network Integrity, Dr. Fidelis Onah, said: “Everyone of us must have experienced fraud or somebody you know has. When this issues of e-banking fraud was raised by banks, the CBN and NCC saw the need to collaborate to fight it.
“We have developed frameworks, but after analysis, we still noticed some loopholes. So, we raised the issue of authentication period. We have decided to also embark on consumers awareness.
“There is need for prudence among people. People should place restrictions on what they do and how they do it. We are on check and if anyone is caught, such person will face the wrath of the law”, he vowed.
Meanwhile, Dr. Adewale Banijoko, a Principal Consultant, Forensic Consultant Limited, in his sensitisation lecture, pointed out that effective collaboration among major stakeholders in the industry, and education of the bank, as well as telecommunications customers, were means through which e-banking fraud could be nipped in the bud.

No comments