Reading Time: 2 minutes

[Cross River]–In its bid to check the growing cyber crime in banks, the Central Bank of Nigeria (CBN) is set to release a policy blacklisting cyber crime fraudsters in the banking system.

The Chief Security Officers (CSOs) of banks disclosed this yesterday in a one week Nigerian Financial Sector Global Cyber Security Conference held at Transcorp hotel, Calabar.

He said with the Biometric Verification Number (BVN), “The idea is that when the framework comes out from CBN, the BVN will become a major tool to fight fraudsters.

“Our recommendation from this conference is that it should become an instrument to kick fraudsters out of the banking system,”he stated, adding that “once the investigation proves that they are fraudsters, we believe that the other legal consideration will be taken care of by that framework.”

Giving a summary of the conference the Leader of the CSOs, Mr. Sam Okenye said, such framework “should become a major instrument to kick those guys out of the banking system.”

Okenye said “what we noted is that low level of security awareness is a major challenge. Some customers divulge their sensitive information to fraudsters unknowingly. They put a call to them pretending to be calling from a bank and because customers have low-level awareness they disclose sensitive information and fall for fraud. So low security awareness is a challenge, which we are going to tackle as an industry, which is part of what we agreed here.”

The conference, which attracted mostly Israelis and other nationals as trainers, had over 95 participants drawn from various banks.

Copyright 2017 The Page. Permission to use quotations from this article is granted subject to appropriate credit being given to as the source.



Leave a Reply

Your email address will not be published. Required fields are marked *