HomeSocietyNigerian Banks and Cybersafe introduce innovative plan to stop Cyber frauds

Nigerian Banks and Cybersafe introduce innovative plan to stop Cyber frauds

  • Nigerian banks have teamed up under the name “CCISONFI” to start a campaign against growing money scams and online tricks in Nigeria.
  • Introducing the ‘StaySafe Nigeria’ campaign, a teamwork effort involving Nigerian banks, the Cybersafe Foundation, and the Central Bank of Nigeria (CBN).
  • The mission is all about teaching everyone in Nigeria how to outsmart tricky scammers and cyber bad guys. We’re like cyber superheroes, helping you learn the secrets to keep your online world safe and sound.

Nigerian banks, working together through the Committee of Chief Information Security Officers of Nigerian Financial Institutions (CCISONFI), have launched a campaign to stop the increasing financial scams and cyber frauds in the country.

This campaign, called ‘‘NoGoFall Maga, Confam am Again’,’ is a partnership between Nigerian banks, the Cybersafe Foundation, and the Central Bank of Nigeria (CBN).

Its goal is to educate Nigerians about the tricks used by fraudsters and cybercriminals and how to defend themselves from these attacks.

Nigerian Banks and Cybersafe introduce Innovative plan to stop Cyber frauds

Some of these tricks involve fraudsters making fake phone calls that seem to be from your bank, asking for your OTP or card numbers. Stay informed to stay safe!

Your card numbers or ATM PIN won’t ever be requested by a bank. But regrettably, many Nigerians are being conned because they are unaware of this. CCISON is launching an awareness campaign as a result.

We’re going to broadcast this crucial message on TV and on social media in order to help everyone in Nigeria stay safe.

Speaking at the unveiling of the campaign in Lagos, the Chairman Committee of CCISONFI, Mr. Festus Amede, said:

“This public enlightenment program and cybersecurity awareness 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.

“Its success is largely centred on the strategic partnership with the CBN, Banker’s Committee, CCISONFI (a committee formed under the guidance of the Central Bank of Nigeria and made up of the Chief Information Security officers of Nigeria Deposit Money Banks and Payment service Providers PSPs and finally Cybersate Foundation, an independent non-governmental organization registered under the laws of the Federal Republic of Nigeria.”

The financial world is going high-tech with more and more companies joining in on the digital revolution, thanks to the CBN’s efforts to make finance accessible to everyone. However, there’s a problem brewing. Cybercrimes and financial scams are on the rise, and this is shaking customers’ faith 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.

READ ALSO: CBN Order: Nigerian banks increase interest rate on savings deposits

Hackers steal money from over 1000 Nigerian bank customers via BVN-linked numbers

In another news, over 1000 Nigerian bank customers suffered a severe financial attack due to the actions of now-apprehended hackers.

The Nigeria Police Force (NPF) has formally confirmed the apprehension of two suspects who are believed to be associated with a syndicate engaged in unauthorized access to over 1000 Nigerian bank customer accounts within the country.

The recently apprehended fraudsters illicitly obtained millions of nairas from customers by exploiting BVN-linked phone numbers.