• About
  • Advertise
  • Careers
  • Contact Us
Thursday, July 3, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Business Security

NCC Worried over Rising eFrauds in Nigeria’s Telecom Industry

by Admin
September 15, 2023
in Security
1
SIM swaps and eFrauds in Nigeria
SIM swaps and eFrauds

SIM swaps and eFrauds in Nigeria

UBA
Advertisements

The Nigeria Communications Commission (NCC) has expressed worry over rising cases of electronic related frauds (eFrauds) in the telecommunications sector.

To this end, the Commission has cautioned various the consumers to stay on the alert while using products and services across telecom platforms.

Mr. Alkasim Umar, the Director, Consumer Protection and Advocacy Unit, Consumer Affairs Bureau of the Commission, sent the warning during a sensitisation programme in Abakaliki, the Ebonyi State capital.

At the event tagged: ‘Shine Your Eyes-No Fall Mugu’, Umar noted that as part of the strategy to actualise the protection and promotion of the interest of consumers, the department collaborates with Consumer Advocacy Groups and relevant stakeholders to empower telecoms consumers with the knowledge and advocate for their protection within the telecoms industry.

The director, who was represented by Clems Omeife, the Head of Consumer Advocacy and Production Unit of NCC, said the development and deployment of robust infrastructure to support innovative technologies and services have no doubt positively transformed our socio-economic space.

According to him, “As the telecom industry evolves, there is a growing concern over the rising trend of fraud perpetuated on telecom platform (electronic fraud) across key sectors of the Nigerian economy.

“The menace that follows the wide acceptance of new methods of mobile money electronic banking and payment systems has been discovered to cost the country a whopping amount of money.

“Cyber criminals are targeting telecoms networks, interrupting service provision and accessing bank data. Victims are often left with enormous losses from SIM swaps and USSD e-payment frauds.

“The Central Bank of Nigeria (CBN) has identified electronic fraud as the biggest risk to the sector, which has embraced a range of electronic payment solutions, including Automated Teller Machines (ATMs), Nigeria Inter-Bank Settlement System (NIBBS), instant payment as well as mobile banking.

“A lot of people are highly ignorant of how losing their phones to fraudsters can lead to a complete clean-up of their bank accounts. These fraudsters do this by stealing victims’ identities, names, addresses, and bank information, which they use to gain access to their bank accounts.

“They also use the stolen identity to defraud other people and even apply for loans, leaving the victim with debts. It is in view of this and in line with the commission’s consumer-centric posture that the commission in collaboration with relevant advocacy groups embarked on the sensitisation programme tagged: ‘Shine Your Eyes, No Fall Mugu’, across the six geopolitical zones in the country,” he said.

Umar stated that the commission also collaborated with critical stakeholders such as the Central Bank of Nigeria (CBN), the Nigerian Police Force, the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices Commission (ICPC) and other relevant agencies in the fight against e-banking fraudsters.

He further advised telecom consumers to be vigilant and cautious when it comes to financial transactions on the telecom platform as fraud can occur through various channels, including unsolicited text messages, voice calls, emails, and fake mobile applications. (THISDAY)

[Featured Image Credit]

Loading

Advertisements
MTN ADS

Author

  • Admin

    TechEconomy is a Distinct News Media That Focuses on BUSINESSES, PEOPLE, PLATFORMS, INSTITUTIONS

    View all posts
0Shares
Tags: EfraudSIM Swap
Admin

Admin

TechEconomy is a Distinct News Media That Focuses on BUSINESSES, PEOPLE, PLATFORMS, INSTITUTIONS

Next Post
nimc and Ministry of Interior

Reasons FG Moved NIMC to Interior Ministry

Comments 1

  1. Pingback: Ecobank Alerts Customers To Increase In Sim Swap Fraud - News Curators

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Finally, FG Makes U-turn on Proposed Tax on Telcoms Services

3 years ago

Knife Capital Completes 2nd Close of $50m, Standard Bank Joins Investors

3 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.