NCC Highlights the Crucial Role of ICT in Combating Financial Crimes as Maida Joins Hall of Fame

 

NCC
NCC Highlights the Crucial Role of ICT in Combating Financial Crimes as Maida Joins Hall of Fame

 

The Nigerian Communications Commission (NCC) emphasized the crucial role of Information and Communication Technology (ICT) in fighting financial crimes, advocating for the utilization of real-time surveillance, regulatory compliance, and secure data processing. The commission also emphasized the necessity of collaborative efforts among various stakeholders to address the issue of illicit financial flows within the country.

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According to a statement signed by Reuben Muoka, the Director of Public Affairs, Dr. Aminu Maida, the Executive Vice Chairman (EVC) of the Commission, spoke at the 11th Anniversary Lecture Series of RealNews Magazine in Lagos. He was also inducted into the RealNews Hall of Fame in recognition of his exceptional contributions as the Guest of Honour at the event.

 

Maida underscored the critical role of robust ICT systems in preventing and investigating financial crimes, which include a wide array of offenses such as insider abuse, money laundering, terrorism financing, and various types of fraud.

Read Also: NCC, Moniepoint, other Key Players to Support NITRA FINTECH Forum

During the event, Maida, represented by Reuben Muoka, highlighted the evolving scope of financial crimes due to the increasing adoption of digital technologies and the transnational nature of these offenses. He emphasized that while the complexity of ICT systems has led to a rise in cybercriminal activities, technology can be leveraged to track the movement of illicit funds, both within and outside the country.

 

The deployment of advanced data analytics, artificial intelligence, and blockchain technology, among other tools, has enabled a proactive approach to crime prevention and a more effective long-term strategy for combating financial crimes.

Read Also: New NCC Boss, Maida Commits to President Tinubu’s Vision on Digital Economy

Maida also emphasized the various measures taken by the Commission to ensure the security of telecommunications services, including the establishment of the Computer Security Incident Response Team (CSIRT) and the incorporation of biometric authentication for telecom and financial transactions.

 

He further stressed the importance of public education, international cooperation, and collaboration among technology specialists, legal professionals, and legislators in combating emerging criminal methods effectively.

Read AlsoNCC Announces 2023 Talent Hunt Research via Hackathon Competition

 

 

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