Banks partner Cybersafe, launch fresh campaign against cyber frauds

Banks partner Cybersafe, launch fresh campaign against cyber frauds

Nigerian banks through the Committee of Chief Information Security Officers of Nigerian Financial Institutions (CCISONFI) in collaboration with Cybersafe Foundation and the Central Bank of Nigeria (CBN) have unveiled a campaign targeted at curbing the rising financial scams and cyber frauds in the country.

The initiative tagged ‘NoGoFall Maga, Confam am Again’, is aimed at enlightening Nigerians on the various tactics of fraudsters and cyber criminals and how they can protect themselves against attacks.

Speaking at the unveiling of the campaign in Lagos, the Chairman Committee of CCISONFI, Mr. Festus Amede, said the initiative tagged ‘NoGoFall Maga, Confam am Again’ is aimed at promoting general public awareness of cybersecurity which ultimately will dovetail into reducing cybercrime and financial fraud.

While noting that the financial industry has witnessed increased adoption of digital technology as several companies responded to the CBN’s financial inclusion initiatives, he said the rise in cybercrimes and financial frauds is making customers lose 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.

“A loss of such trust and confidence could undermine the benefits of the CBN’s financial inclusion and cashless economy or the ability to continually leverage technology as an enabler of social and economic development. Hence there is a need to constantly address the related challenges of ensuring continuous cybersecurity and data privacy,” Amede said.

Also speaking at the event, the Chairman of Cybersafe Foundation, Dr. Peter Obadare, 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.

“When we talk about cybersecurity, most of the time, we know it’s about technology, it’s about the process, and then of course, it’s about the people and I usually say that there is no amount of investment that you put in the people’s side that can ever go wrong. 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.