The director, Consumer Affairs Bureau of the Nigerian Communications Commission (NCC), Mr Efosa Idehen, has said fraudulent activities on the internet was posing a dangerous risk to the sector and the agency was poised to check it’s spread.
He said the NCC had commenced a sensitisation initiative to protect consumers from financial fraud on telecom platforms called, “Shine your eye, No fall Mugu”.
Delivering his address at the event in Kano yesterday, Mr Idehen who was represented by Hafsat Lawal from the NCC headquarters stated that fraudulent activities on internet had become alarming and were posing a risk to the sector.
“The Central Bank of Nigeria (CBN) rates electronic fraud as a major risk in the sector. These risks are widely associated with electronic payment solutions such as Automated Teller Machines (ATMs), Nigerian Inter-Bank Settlement System (NIBBS) instant payment and mobile banking.
“The telecommunications sector is not also spared in the raging storm stocked by cyber threats in the telecom industry. Fraudsters conduct SIM swaps of targeted individuals and then conduct USSD-based transactions with the attendant huge losses to victims,” he said.
The NCC director warned telecom users to avoid responding to unfamiliar enquiries from unknown sources.
He added that government agencies, private organizations and individuals need to work together to fight the menace.
“Permit me to emphasize that effective collaboration between government agencies, private organizations and individuals is pivotal in tackling this menace of electronic fraud.
I therefore urge all those gathered here today to avail themselves the necessary information required to avoid falling prey to cyber criminals.
“Consumers are advised to be careful not to open unfamiliar emails or respond to unfamiliar inquiries and report suspicious propositions and e-fraud to their banks and telecom service providers,” he said.