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CBN, bankers committee to intensify awareness in cybersecurity | #cybercrime | #computerhacker

The Committee of Chief Information Security Officers of the Nigerian Financial Industry (CCISONFI), in partnership with the Central Bank of Nigeria (CBN) and the Bankers Committee, has launched a new campaign to sensitize citizens on the need to be cybersecurity conscious.

The anti-fraud campaign titled ‘NoGoFallMaga, Confam Am Again’ which will be delivered in many languages is targeted at customers of commercial banks, payment service providers (PSPs) and the citizenry in Nigeria, which is delivered leveraging local technical consultants including Cybersafe Foundation and The Hook Media.

According to the partners, cyber criminals work on the ignorance of the populace and delivering the campaign in different languages will help to carry everyone along to reduce the menace of cybercrime in the country.

The Centre for Strategic and International Studies (CSIS) estimated that $600 million is lost to cybercrime each year, an increase from a 2014 study that puts global losses at about $445 billion.

In Africa, the cases of cybercrime 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.

Festus Amede, chairman, CCISONFI, said the rise in cybercrime and fraud may lead to an increased loss in customers’ trust and confidence in the financial system.

“This increased innovation and use of digital platforms has greatly transformed the cyber and technology landscape thereby giving rise to new risks, especially with sustaining trust and confidence in customers’ ability to communicate and transact securely within the financial ecosystem.”

Read also: 90% of African businesses neglect cybersecurity protocol – Dell

He said only through concerted efforts and collaboration by industry stakeholders to ensure that customers remain cyber-aware, can there be reduction and eventual elimination of the menace.

Abumere Igboa, chief information security officer, Stanbic IBTC Bank added that the campaign is aimed to guide Nigerians from falling victim to different tactics and methods fraudsters may attempt to come at them, including how to respond.

He explained that the ‘last man standing’ is actually the target of the fraudsters since the customer is the final authoriser. “A lot has been done behind the scene by the banks, and they are still doing more, but the most effective security lies with the customer, who is the last firewall.”

Peter Obadere, chairman of Cybersafe Foundation said the essence of the initiative is to build a human firewall in addition to the security firewall being built by the financial institutions to prevent fraud.

“What we’re doing today, is about increasing the cybersecurity intelligence quotient of the populace, which is very important. It’s about building the human firewall,” Obadere said.

Meanwhile, the campaign will feature creators and the likes of popular comedian, Samuel Perry known as Broda Shaggi to help communicate the message to the people.


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