CIBN Urges CBN To Impliment Policies To Curb Cyber Fraud In Banking Sector
The Chartered Institute of Bankers of Nigeria (CIBN), Ogun state chapter has called on the Central Bank of Nigeria (CBN) to implement policies aimed at preventing trivial transactions within the banking industry.
Chairman of the Institute, Isaac Arokun believes that such measures would contribute significantly to maintaining the integrity of the banking sector.
In addition to tackling trivial transactions, Mr. Arokun, who spoke during the Institute’s Annual Competitive Programme for Higher Institutions in the state held in Abeokuta on Tuesday, highlighted the importance of prioritizing cybersecurity in the banking industry.
He also urged all banks to adopt robust security policies and protocols to safeguard against unauthorized access to personal information and protect their websites from potential cyber threats.
He said “The CBN can bring a lot of policies that will ensure that it does not allow previous transactions in the banking industry. Banks should come up with policy in line with cyber security to ensure that intruders are not invading personal information and protect their website.
The Chairman affirmed that most of the fraud in the baking sector are electronic fraud, insisting that there should be much more cyber security to prevent it.
He added that “The CBN should also engage in advocacy and public enlightenment to ensure that policy that are put in place to explain to the people.”
