The Nigeria Police Force National Cybercrime Centre (NPF-NCCC) has called on banks to set up electronic fraud response teams to rapidly address cybercrimes.
Akaninyene Ezima, Assistant Inspecto-General of Police (AIG) in charge of the NPF-NCCC, said this at the 19th Chartered Institute of Bankers of Nigeria (CIBN) Annual Banking and Finance Conference in Abuja on Wednesday.
Ezima, represented by ACP Abdullahi Bashir of the NPF-NCC Unit, said that the team would help security agencies with information sharing required to track and address financial and cybercrimes.
He stressed the need for the banking industry to train its staff to understand rapid response mechanism.
He said that there was need for a coordinated approach to cyber crimes.
”Now, has there been an effort made by these banks to come together into a united front to create a digital platform where this intelligence can be shared?
”If any bank is attacked, there is the need for that incident to be reported on that platform.
“This will create an operational line for all the other banks to understand that there is a new threat going around the institution.
”This will enable the bank’s chief information security officers to sit down and strengthen their response mechanism to prevent these hackers from coming to their bank,” he said.
Dr Rakiya Yusuf, the Director, Payments System Supervision of the Central Bank of Nigeria (CBN), emphasised the need for information sharing to curb cyber crimes in the financial system.
Mr Bolaji Lawal, the Chief Executive Officer (CEO) of Ecobank, said the focus should shift from individual to ecosystems resilience.
Lawal urged all stakeholders in the financial system to join hands in strengthening the ecosystem.
”Building this resilience is our collective responsibility,” he said.
Funmilola Odumuboni, Partner, Cyber Risk Services Deloitte, said that appropriate governance must be put around Artificial Intelligence (AI).
She called on financial institutions to prepare themselves and their systems to ensure readiness to fight cyber attacks.
”We need to do cyber drills to ensure we are ready to fight it,” she said.
themomentng reports that the session was titled, “Navigating Cyber and Systemic Risks in the AI-Driven Future of Banking: Implications for Financial Stability and Business Resilience’.
