Skip to main content

Internet bank fraudsters now in recession, says CBN

The Central Bank of Nigeria (CBN) has claimed success in checking Internet fraudsters in the banking sector through various measures to prevent hacking into customers’ accounts.

The deputy governor of the apex bank in charge of operations, Mr. Bayo Adelabu, who spoke at the 2017 retreat of the Nigeria Electronic Fraud Forum (NeFF) held in Ibadan, Oyo State capital, said the bank would continue to sanitise the financial sector.

The event was attended by top officials of the Economic and Financial Crimes Commission (EFCC), U.S Consulate, Lagos, Consumers Protection Council (CPC) and some commercial banks.

Chairman, Nigeria Electronic Fraud Forum, Dipo Fatokun said with the bank verification number in place, biometrics would soon be used for transactions. “That means if you want to transact with your ATM, you will need to use your biometrics. There is no way you can give your finger to a third party. If that is enabled, it will make our system to be more secure and make all our transactions to be validated.”

Adelabu, in his keynote address, said in the age of digitalization and increased adoption of alternate forms of payment for goods and services, stakeholders must ensure security of operators and the consumers they intend to serve.

The CBN commended the feats recorded in the last six years by NeFF, noting that the organization in collaboration with other stakeholders has successfully implemented the Cybercrime Prohibition and Prevention Act 2015.

According to him, the retreat has re-enforced greater synergy among the Office of the National Security Adviser (ONSA), the forum and the entire payments industry.

“At the CBN, we shall continue to ensure a safe, reliable, secure and efficient payment system, and our commitments will neither waiver nor dampen in this regard.”

On the future of the banking industry, he said what is lost to fraud has progressively reduced in the last three years. “It is safe to say that the fraudsters industry is not only in recession, but will hopefully never recover, based on the strategies this retreat will fashion out for the fight against e-fraud in Nigeria,” the CBN official said.

Labels:

Comments

Post a Comment

Kindly drop your comments

Popular posts from this blog

Pastor admits defrauding Atiku of N918m

A confessional statement tendered before an Ikeja High Court on Tuesday revealed how Pastor Nsikakabasi Akpan-Jacobs voluntarily confessed defrauding Mrs Titi Atiku, the wife of former Vice-President Abubakar Atiku of N918 million. Mr Dickson Graymond, a retired detective with the Economic and Financial Crimes Commission (EFCC) insisted on the voluntariness of Akpan-Jacob’s alleged confessional statement while giving evidence during a trial. While being led in evidence by Mr Babatunde Sonoiki, the EFCC prosecuting counsel, Graymond said: “There are so many things that he confided in me that he refused to put into writing. “He admitted to me that Florence Doregos was Titi Atiku but he refused to put that into writing. “He confided in me that he wanted to contest in the Akwa-Ibom elections and that as soon as he begs Her Excellency, the matter will be over. “All what he told me were not forced, I did not even force him to write all what he confided in me in his confessional ...
Post a Comment
Read more

Epic tho.. davido shades Caroline danjuma in new track #FIA

On his new single titled “Fia,” Davido subliminally shaded actress and girlfriend of late Tagbo, Caroline Danjuma. The two celebrities had a face-off that led them to the police for resolution. The issue emanated from the Caroline Danjuma’s Instagram post, accusing Davido of being involved in Tagbo’s death. The issue seem to have been resolved by the Nigerian police, with Davido vindicated and Caroline Danjuma embracing peace. But as expected, Davido addressed the issue on his latest single, Fia. His lyrics on the song, seem to be a shade to the beautiful actress. On the song, Davido said: “Caroline save your drama I dont need it, (its) for the soap opera. Holla holla Mr. Olopa I’m not hear to cause wahala o. Hello diva save your drama, you don’t need it in your soap opera o….”
Post a Comment
Read more

Real Reason Why This Statue Of Fela Kuti In Lagos Is Headless

The 2017 edition of the festival was a special edition as it marked the 20th year anniversary of Fela’s demise, and the Lagos State government commemorated the legend by erecting ‘The Liberation’ a statue of Fela at Allen Roundabout, Ikeja, Lagos. To the surprise of several people, the statue erected was without a head and this raised a lot of suspiscion and comments from fans of the late Afrobeat legend. Responding on behalf of the family, Fela’s daughter and social commentator, Yeni Kuti has justified the design of the monument, saying it was the expression of how the artist felt about the late legend. She said: ‘Before people on social media will start to say the Fela has no head or it has no hand and so on, it is art and before you abuse us, let me answer quickly. It is art. How an artist feels is how he feels because if he had put a head and the head did not look like Fela, everybody will say the head did not look like Fela so now you cannot abuse the head because it is not even t...
Post a Comment
Read more