E-Payment Providers Association of Nigeria (E-PPAN) and partner bodies are set to facilitate training for the Nigerian Police Force (NPF) on needed skills to detect the new mode of perpetrating electronic fraud in the nation’s banking system.
Other professional bodies that have collaborated to facilitate the 2-day training include the Nigeria Inter-Bank Settlement Scheme plc (NIBSS), Packway Projects, Committee of Chief Compliant Officers of Bankers in Nigeria (CCCOBIN) and Nigeria Electronic Fraud Forum (Neff).
The training according a press statement from E-PPAN on Thursday was to improve the knowledge of the Nigerian Police Force on common trends in payment frauds.
The statement reads: “The two day training which will be held on the 29th and 30th of August 2017, at the Police Special Fraud Unit, Ikoyi, Lagos will cover the dynamism of electronic payment processes and fraud including an overview of payment process; common trends in payment fraud; point of compromise/vulnerabilities of payment system.
Others include basic indicators to look out for in investigating e-fraud, available laws and policies of electronic payment in Nigeria and Synergy among stakeholders. This knowledge would go a long way in assisting the force with investigations of electronic fraud in Nigeria.
Cybercrime techniques are evolving everyday as fast as new technologies are being implemented. E-PPAN hopes to expose the police to the new payment technologies and vulnerabilities which are inherent, according to the statement.
“This training session will go a long way to helping the police understand the various types of payment crime and what to look out for when investigating and tackling electronic fraud in Nigeria.
New technological innovations are created to make payments faster and seamless, so fraudulent activities involving electronic fraud have increasingly become prevalent. These cyber actors are obviously are not relenting in their efforts to use sophisticated tactics to separate people from their hard earned money.
According the NIBSS, 376 million naira was lost to fraud in the first quarter of 2017. And the impact of fraud is a major hindrance to the growth of electronic payment in the country and the world at large.
It therefore comes as no surprise that industry stakeholders are concerned on how to mitigate their activities. A proper understanding of the various types of frauds by security agents will prevent loss of time which affects the outcome of investigation, persecution and adjudication.
