Nigerian Communications Commission (NCC), has listed Subscriber Identity Module (SIM) swaps and Unstructured Supplementary Service Data (USSD) e-payment frauds as some of the biggest cyber threats confronting the telecom industry.
According to the Commission, attackers target telecom networks with the intent of getting access to consumers’ information in the databank of service providers.
Director, Consumer Affairs Bureau of NCC, Efosa Idehen made this disclosure at the maiden edition of a sensitisation programme tagged “Shine Your Eyes, No Fall Mugu”, in Benin City, adding that fraudsters conduct SIM swaps of targeted individuals and then carry out USSD-based transactions to defraud citizens of their money.
Idehen, who was represented by Clement Omife, a deputy director in his department called on Nigerians to be careful when opening unfamiliar emails or responding to unfamiliar inquiries so as not to fall prey to cyber criminals.
“These fraudsters do this by stealing victims’ identities- names, address, bank information and other information which they use in gaining access to their victims’ bank accounts.
They also use the stolen identities to defraud other people and even apply for loans or make online purchases, leaving the victims with debts,” Idehen said.
He hinted that the enlightenment programme which was organised by the commission in conjunction with the African Entrepreneurial and Human Development Initiatives was to equip telecom consumers with knowledge and for them to be alert not to fall victim of fraudsters.
He added that “As the telecom industry evolves, there are growing concerns over the rising trend of fraud perpetuated on the platform (electronic fraud) across key sectors of the Nigerian economy.
“The menace, which follows wide acceptance of new methods of mobile money and electronic banking and payment systems, has been discovered to cost the country whooping sums of money.
“It is in view of this and in line with its consumer-centric posture that the commission with relevant advocacy groups, embarked on this sensitisation programme in locations across the country, starting with Benin City, Edo State.”
Idehen noted that effective collaboration between government agencies, private organisations and individuals is crucial in tackling the menace of electronic fraud.
