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Activities of cyber criminals had assumed a high dimension— Akinwuntan

Managing Director of Ecobank Nigeria, Patrick Akinwuntan has raised what he described as issue of urgent national importance, saying time has come for all stakeholders collaboration in the fight against cybercrimes in the country to save the financial industry.

Speaking at the second general meeting of Nigeria electronic Fraud Forum (NeFF) in Lagos, he disclosed that the activities of cyber criminals had assumed a high dimension.

Represented by the Group Head, Operations and Technology, Ecobank, David Isiavwe, the GMD commended the efforts of the Central Bank of Nigeria (CBN), NeFF and other industry players for fast-tracking the fight against the crime.

While assuring of Ecobank’s support in the fight, Akinwuntan assured that “We at Ecobank duly recognise this role and fully support it as we know the immense benefits that accrue to the society by having a safe and secure environment where banking and general commerce can be done by the citizens of the country.”

“It is generally known that the strength of any system is determined by its weakest link. Thus, the need for information sharing and continuous collaboration by all stakeholders is paramount.

“Again, we must salute the efforts of the CBN for bringing together key stakeholders on a continuous basis to evaluate different aspects of cybersecurity and to further inoculate the system.”

Earlier in his address, the Chairman NeFF, Mr Sam Okejere, called on lawmakers to as a matter of urgency, begin a total review of existing laws, and the enactment of new laws that will check fraud risks in the payment system in the country.

According to him, the recent step up in the regime of cashless policy no doubt, would increase electronic transactions and electronic fraud hence the need to act fast in churning out matching laws and regulatory framework to tame cybercriminals.