AOH :: ISN-3242.HTM

Cybercrime Group Warns banks Against Hackers

Cybercrime Group Warns banks Against Hackers
Cybercrime Group Warns banks Against Hackers 


Coordinator of the Nigerian Cybercrime Working Group (NCWG), Mr Basil 
Udotai, has disclosed that the consolidation of banks has made them 
vulnerable to on-line crimes.

Udotai said the increase in the capital base of banks to N25 billion had 
enlisted them among the big financial houses in the world, making 
targets of high level on-line hackers.

In an interactive forum with representatives of banks in Abuja, the 
coordinator of the NCWG said the hackers invest a lot of money to buy 
communication equipment for high level crimes and only big banks attract 
their interest.

Udotai said some of the banks had already brought complaints of website 
cloning by unknown persons and the risks would keep increasing as their 
investments continue to grow.

He stressed the need for all banks to build a "virtual centre'' where 
they would be sharing information from time to time instead of hoarding 
facts for fear of competition.

Udotai said the centre for sharing information must be based on a 
framework of "readiness, responsiveness and resilience "and the 
benchmarking of global best practices in checking hackers.

"Bankers must share information without the fear that their partners 
would use it against them in competition and they must have network of 
security experts'', he said

Udotai said the cybercrime and cybersecurity bill for the country was 
still before the national assembly but it had already gone through the 
first public hearing in the senate.

He said the passage of the bill into law would give law enforcement 
agents the legal backing to investigate, arrest and prosecute on-line 

Reports indicate that all the banks in attendance which include Access 
banks, UBA,Diamond bank and Skye bank, agreed to endorse a synergy known 
as FinCERT Nigeria project, to take pro-active measures against hackers.

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