The Nigeria Electronic Fraud Forum (NeFF) has said that joint effort by stakeholders including the Economic and Financial Crimes Commission (EFCC), judiciary, law enforcement agencies and bank customers can reduce the level of electronic fraud in the country.
Chairman of the forum, Mr Dipo Fatokun, who spoke in Lagos at a dinner organised for members of the Forum, said the only solution to fraud is collaboration.
He said: “There is no solution to fraud other than collaboration. Our common enemies, who are the fraudsters, do not have boundaries, they don’t discriminate between banks, the fraudsters do not have all the time, they sit in the comfort of their homes and make things happen.
“We must break the barriers and focus on a common purpose which is to take out fraud. All stakeholders, including the law enforcement agencies, the regulators and the general public must come together.
“We are collaborating with the EFCC on investigation and prosecution of fraudsters as it relates to cash presence flow in non- EMB environment, we also plan to have training for the judiciary on financial crime, especially electronic payment.
“Next year, we plan to devote one week to anti-fraud activities, where all operators in the payment system will be involved in sensitizsing, educating and informing the banking populace on the activities of this fraudsters, so that people will be aware of how they can protect themselves, their account and assets,” he said.
Reading the forum score card for 2014, Fatokun who is also the CBN director of banking and payments system said stricter policies and guidelines that has strengthened the payment space has been put in place.
Chairman of the forum, Mr Dipo Fatokun, who spoke in Lagos at a dinner organised for members of the Forum, said the only solution to fraud is collaboration.
He said: “There is no solution to fraud other than collaboration. Our common enemies, who are the fraudsters, do not have boundaries, they don’t discriminate between banks, the fraudsters do not have all the time, they sit in the comfort of their homes and make things happen.
“We must break the barriers and focus on a common purpose which is to take out fraud. All stakeholders, including the law enforcement agencies, the regulators and the general public must come together.
“We are collaborating with the EFCC on investigation and prosecution of fraudsters as it relates to cash presence flow in non- EMB environment, we also plan to have training for the judiciary on financial crime, especially electronic payment.
“Next year, we plan to devote one week to anti-fraud activities, where all operators in the payment system will be involved in sensitizsing, educating and informing the banking populace on the activities of this fraudsters, so that people will be aware of how they can protect themselves, their account and assets,” he said.
Reading the forum score card for 2014, Fatokun who is also the CBN director of banking and payments system said stricter policies and guidelines that has strengthened the payment space has been put in place.
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