Rising cases of cybercrime in the banking industry is becoming a big headache to bankers, customers and law enforcement agencies in the country. With so many people highly skilled in hacking techniques 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 N30.2 trillion daily – cybercriminals are working hard to devise new ways to steal from them; and they have been successful.
Many banks and their customers have fallen victim. In June 2022, these hackers stole N1.755 billion from various customers’ account in Globus Bank and fraudulently transferred the money into various accounts in other banks. The bank was quick to recover N817.99 million, but is still fighting to recover N962 million from the fraudsters’ accounts.
Frauds do not only lead to loss of money and erosion of trust in…
