The Nigerian Communications Commission, NCC has warned that over one-hundred-and-fifty million Nigerians in the financial system risk being defrauded through telecommunications platforms.
The NCC Executive Vice-Chairman, Umar Danbatta gave the warning in an address during the inauguration of a multi- sectoral committee on e-fraud, in Abuja.
Data released by ‘Enhancing Financial Innovation and Access’ had showed that over one-hundred-and-fifty million Nigerians were involved in the financial system.
Danbatta said the populace is vulnerable to financial fraud at any moment as a result of mobile app integration with on-line payment platforms and other financial resources.
He added that to effectively combat e-fraud, customer service and fraud operations, teams in banks and the mobile network operators needed tighter processes and rules on how to detect potentially fraudulent activities.
