Nigerian Communications Commission (NCC) said it has intensified its onslaught against the threat posed by cybercriminals across the country.
It said one of its strategies was the composition of the Industry Working Group (IWG) which brainstorms on ways to wage the war.
Engr. Ubale Maska, executive commissioner, Technical Services, NCC, who spoke during the second Workshop of IWG on electronic banking fraud at the Digital Bridge Institute (DBI) Kano, lamented the staggering level of fraud in the industry.
During his presentation titled: Electronic Banking Fraud in Nigeria: Challenges and Way Forward”, a Deputy Director at the NCC, Engr. Bako Wakil, said it became necessary to intensify the campaign following the visit by the Deputy Governor of the CBN to management of the NCC to discuss the prevalence of banking fraud using telecoms infrastructure.
This was necessitated, after petitions by deposit money banks to the apex bank complaining about the sophistication of the methods employed by cyber criminals via telecoms infrastructure in defrauding unsuspecting customers.
On assumption of office, reeled out his eight-point agenda for the industry, of which facilitating strategic collaboration and partnership with relevant stakeholders to foster ICT for sustainable economic development and social advancement became a priority for the commission.
The IWG which was constituted early in the year, has as members, stakeholders from the Nigerian Communications Commission (NCC), Central Bank of Nigeria (CBN), Civil Society Organisations (CSO) as well as Value Added Service (VAS) providers.
Engr. Wakil said the terms of reference for the committee was to look at the technicality and security of mobile banking; awareness issues in mobile banking; SIM card replacement processes; SIM card cloning as well as unsolicited text messages.
The sub-committee which was set-up acknowledged that banking fraud is a growing national problem which fleeces innocent Nigerians of their earnings daily and came up with 21 recommendations categorised into short-term, mid-term and long term, with the aim of checkmating this growing threat to Nigerians.