e-fraud greatest threat to digital finance, says NCC

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The Nigerian Communications Commission (NCC), yesterday, confirmed that the Central Bank of Nigeria (CBN) had identified e-fraud

Speaking at the secondary school debate organised by the commission in Abuja, Director, Consumer Affairs Bureau, Efosa Idehen, lamented that a huge sum of money was being lost to the menace in the nation’s financial sector.

His words: “The CBN rates e-fraud as the biggest risk in the sector, which has widely affected electronic payment solutions such as Automated Teller Machines , Nigeria Inter-Bank Settlement System instant payment and mobile banking. Attackers are now targeting telecoms networks to disrupt service delivery and infiltrate their data bank in addition to SIM swaps, Unstructured Supplementary Service Data and e-payment fraud.

 

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