New Telegraph

Cybercrime: ‘Highest challenge of banking industry

Central Bank of Nigeria (CBN) non-executive director, Prof. Mike Obadan, yesterday expressed concern over the activities of hackers, noting that they have continued to affect the growth of the banking industry. Obadan, who stated this at the 8th LAPO Conference on Microfinance and Enterprise Development in Benin, said the threat of hackers have continued to elicit deep concerns due to their negative impacts. He noted that some Nigerian banks have been attacked by hackers, resulting in significant financial losses. He added that the rate, scale and complexity of the attacks is on the increase, considering the report of cybercrime losses in recent times. “It is of great concern that the activities of hackers have continued to affect the growth of the banking sector. The rate, scale and complexity of the attacks are on the increase considering the report of cybercrime losses in recent times. “However, the CBN has continued to monitor and coordinate responses to cyber-attacks on financial institutions in the country. Moreover, the heightened cyber security threats were moderated.”

Read Previous

2023: Ayade receives new REC, pledges free, fair election

Read Next

Abia 2023: Ohuhu traditional rulers receive APP guber candidate

Leave a Reply

Your email address will not be published.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