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Government, experts strategise to check e-fraud in financial institutions



To check electronic, E-fraud in banks and other financial institutions, experts have called for a process of steady review of individuals operating the technology unit of these institutions. 

The call was made in Port Harcourt during an E-fraud in Banking workshop, organised by the Nigerian Communications Commission (NCC), and the Central Bank of Nigeria (CBN).

The Principal Fraud Consultant, the Global Fraud and Forensics Consultants Limited, Adewale Banjoko, noted that fraud is on the increase because of technology development, adding that if those handling the technology of banks or firms are fraudulent, they will do a lot of damage to the organisation. 


To control the damages and check fraud, Banjoko called for process should be put in place to re-assess and re-evaluate such persons.
He said: “If someone is a thief and you put him behind the system, he is definitely going to steal. You should not say because the individual has been doing the work for years, and you feel he is not a thief; it might be that the person has been stealing for years there.
“So we want to control this by putting a process in place to always review  and re-assess the technology handler to know whom he is currently, because a law abiding citizen who has fraudulent friends will certainly become a fraudster.”

The expert decried the rate of fraud among university students, noting that the quest for quick money remains the major reason for fraud.Speaking also, the Executive Commissioner, Technical Services, NCC, Onah Fidelis, said the awareness workshop was timely and necessary, as it would help participants comprising bank and telecommunications operators know how fraudsters operate, and how to avert such frauds.

He advised those using telecom to defraud people to desist from the act or face the wrath of the law, adding that the Police, NCC, and CBN would continue to take actions from their special areas to check the menace. 

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