Magu tasks Banks to protect customers from cyber criminals

By Chika Otuchikere

Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Mustapha Magu has called on operators of financial institutions to do more towards ensuring that their customers are protected from the nefarious activities of cyber criminals.

EFCC Acting Head, Media and Publicity, Tony Orilade made this known in a state in which he said that Magu made the appeal on Saturday while speaking as a guest at an event organised by Ilorin Bankers Committee, titled: “Cyber Crimes Threat and Challenges: the role of Financial Institutions. ”

The anti-graft boss, who was represented by Head, Advance Fee Fraud Unit, Ilorin Zonal Office of EFCC, Mr Olamide Sadiq tasked financial institutions on awareness creation and education of their customers on the antics of cyber criminals and to collaborate with law enforcement agencies and their in-house cyber security units to identify suspicious activities.

“As financial institutions, you must make sure you create awareness and educate your customers on the dangers of internet fraud and other fraud-related offences,” Magu stated while advocating for information sharing on cyber crime and money laundering among financial institutions.

He noted that there are instances where bankers collude with criminals to defraud their customers, and urged financial institutions to do background checks of their staff before employing them.

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