We have implemented initiatives mitigating e-fraud risk—NCC

June 25, 2023
25 Views

Spread the love

 

 

The Nigerian Communications Commission (NCC) says it has implemented several initiatives aimed at mitigating e-fraud risks, and remained committed to its mandate of creating an enabling environment for the sustainable growth of the telecommunications sector.

The Director, Consumer Affairs Bureau, Nigerian Communications Commission, NCC, Alhaji Alkasim Abubakar Umar, disclosed at the just-concluded 2nd Quarter 2023 Open Forum of the Industry Consumer Advisory Forum (ICAF) with the theme “Combating E-fraud on Telecom Platforms and Building Consumer Confidence in the Digital Economy.”

He said Nigerians lost about N12.5bn to financial crimes in the telecommunications industry in the past four years.

“The Center for Strategic and International Studies (CSIS) estimated that 600 billion US Dollars is lost to cybercrime each year, an increase from a 2014 study that put global losses at about 445 billion US Dollars.

READ ALSONCC collaborates with MNOs to ensure customers ‘data protection, privacy–Danbatta

“In Africa, the peril of cybercrimes recorded a massive rise in the first six months of 2022, “with phishing and scams hitting 438 percent and 174 percent in Kenya and Nigeria, respectively”, the Guardian Newspapers reported on August 3, 2022.

“E-fraud poses a significant threat to our society, as it undermines the trust and confidence in our digital platforms, hampers economic growth, and adversely impacts the lives of our citizens. As the regulatory authority responsible for overseeing the telecommunications industry, the NCC recognizes its duty to safeguard the interests of consumers and protect the integrity of our digital ecosystem.

“This forum provides us with an opportunity to come together as stakeholders, including telecom operators, financial institutions, law enforcement agencies, government bodies, and concerned citizens, to collaborate and devise effective strategies to combat e-fraud.

READ ALSONCC reduces number of Nigerians living in areas without telecoms service

“However, we understand that the battle against e-fraud requires constant adaptation and continuous improvement. Hence, this forum serves as a platform to share best practices, exchange knowledge, and explore innovative solutions to stay ahead of the ever-evolving tactics employed by fraudsters.

“I encourage all participants to actively engage in discussions, share their experiences, and propose practical recommendations. Let us leverage the collective expertise in this room to develop strategies that strike a balance between convenience and security, ensuring that our telecom platforms remain safe and trustworthy.

Advertisement

“Moreover, I urge all stakeholders to prioritize consumer education and awareness. By equipping individuals with the necessary knowledge and skills to identify and report e-fraud, we can empower them to protect themselves and contribute to the broader fight against cybercrime.”

He added: “The Consumer is one of the major stakeholders in the telecoms industry. It is our desire as a Commission to ensure that they enjoy primary focus. We believe that through adequate education, information sharing, and the provision of an array of channels for redress, we can safeguard telecom consumers, and innovatively promote the prospect for greater Consumer Experience in the Digital Economy. Together, we can build a culture of digital literacy and resilience that safeguards our nation’s digital future.”

You may be interested

Alleged N2.7bn Money Laundering: EFCC Arraigns Two in Lagos
Crime
Crime

Alleged N2.7bn Money Laundering: EFCC Arraigns Two in Lagos

Webby - March 25, 2024

The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Monday, March 25, 2024, arraigned the duo…

Akpabio’s Audacious Call For Ceasefire In Gaza – By Rt. Hon Eseme Eyiboh
News
News

Akpabio’s Audacious Call For Ceasefire In Gaza – By Rt. Hon Eseme Eyiboh

Webby - March 25, 2024

President of Nigeria’s Senate, Senator Godswill Akpabio, CON has in faraway Geneva, Switzerland at the ongoing 148th Session of the…

Time to end government by palliatives – By Hassan Gimba
News
1 views
News
1 views

Time to end government by palliatives – By Hassan Gimba

Webby - March 25, 2024

This article is a repeat as it was first published on November 1, 2020. Palliative–this ten-letter word has taken over…

Leave a Comment

Your email address will not be published.