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NeFF advocates holistic awareness campaign against electronic fraud

By Babajide Komolafe

THE Nigeria Electronic Fraud Forum (NeFF) has called for holistic and sustained awareness campaign to further reduce incidence of electronic fraud in the country.

Chairman of the Forum and Director, Banking and Payment System Department (BPSD), Central Bank of Nigeria, CBN, Mr. Dipo Fatokun, made this call in Lagos while speaking at the quarterly meeting of the forum.

Fatokun said: “Of particular interest to us, is also the need for a holistic sensitization and awareness campaign for financial industry participants. This has become all too important as users of financial products need to keep payment safety buttons on top of their mind at all times.

“We hope that our members will show the much needed cooperation when the time comes for us to jointly engage the public and push our message to the forefront of payment conversations alongside convenience and speed.”

Fatokun said that the forum and the Nigeria Telecommunications Commission have created an inter-agency committee which arrived at conclusions that will define the implementation of a guiding framework in the prevention of SIM Swap fraud that have become prevalent especially with the use of USSD for financial transactions.

Financial transactions

“I am happy to announce that as a product of that inter-agency committee, we have for the first time Mobile Network Operators (MTN, Airtel, Globacom and 9mobile) as members of the Forum. We warmly welcome them to our fold, and we sincerely believe that their onboarding will be the game-changer in our fight against electronic fraud in Nigeria.

“That Smishing, SIM Swaps and Recycled SIMs have posed a new challenge in our space goes without saying, with subscribers constantly being inundated with messages and calls aimed at phishing personal banking information from the unwary. It thus has become important to partner with the Telcos who can assist us in probably ending this dimension of fraud”, he said.

Also speaking at the meeting, Managing Director/Chief Executive, Skye Bank, Mr. Tokunbo Abiru, called for practical strategies, concerted efforts and close collaboration from technology, Telcos and IT security experts to prevent current proliferation of clone apps with its attendant impact on safety of smart phone users in the country.

Abiru, who was represented by the bank’s Executive Director Technology and  Services, Innocent Ike, noted: “One of the strategies to deal with this menace was the enactment of the Cybercrimes Prohibition, Prevention Act, 2015 which is meant to regulate the cyber security space in the country and provide for the application of stiff penalties for internet infractions.”


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