Latest techniques cybercriminals use to defraud Nigerians

The Director General, National Information Technology Development Agency (NITDA), Dr Isa Ibrahim Pantami, says his agency has taken up the challenge of massive awareness creation on the trending ways used by cybercriminals in defrauding vulnerable Nigerians.

Speaking in Abuja recently, he said apart from swapping of SIM cards to ensure that victims were not alerted when their funds were being stolen through online banking transactions, “The cybercriminals use social engineering, phishing mails, and probably specific to Nigeria, the use of text messages pretending to be sent from banks, requesting for PIN or revalidation of Bank Verification Numbers.

According to him, “There has been a tremendous increase in the number of incidences where Nigerians have lost money and data through vulnerabilities arising from lack of knowledge on how to manage their online presence and personal details.

“To the unaware, such are the sources where vital information needed for making unauthorised withdrawals from victims’ bank accounts occur. A more worrisome and recent trend is the SIM swap cases where the victim’s SIM card is swapped; an operation that makes the victim’s phone inaccessible while funds are transferred.”

Continuing, he made it clear that “Cyber security has attracted the attention of governments, enterprises, groups and individuals owing to the myriads of potential for business growth, damage, national security and sovereignty.

Dr Pantami decried that the negatives could cripple a nation’s economy should critical infrastructure be affected. The International Telecommunications Union has evaluated nations in the Global Cyber-security Index, placing Nigeria on number four in Africa.