OPINION BY ETIM ETIM: Fighting cybercrime in banks | TheCable
hacking techniques and desperate for quick wealth, cybercrime may soon be the biggest danger to banks and their customers. As we all know, cybercrime is a criminal activity that either targets or uses a computer or a computer network. In recent years, cybercriminals have been relentlessly attacking banks’ computer networks in order to steal money from customers’ accounts. As more and more Nigerians are taking to e-transactions – now estimated to be worth N30.
GTBank is also in court with some of its big corporate customers from whose accounts hackers stole over N1 billion in foreign currencies. Again, the bank’s officials were tightlipped when I called. Heritage Bank is luckier. A viral story which turned out to be fake news had claimed that N49 billion was stolen from its customers’ accounts.
Although banks’ customers are understandably alarmed by the increasing risks of cybercrime in the industry, their chief executives are less worried. “The problem is not as intense as the noise suggests,” says the chief executive of one of the biggest banks. He noted that although hackers breach banks’ database often, “it is nothing significant to give anyone significant concern”. He continues: “The risk is real and it happens quite frequently.
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