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NCC Moves To End E-Payment Fraud

The Nigerian Communication Commission (NCC) has commenced sensitization campaigns to stamp out Subscriber Identity Module (SIM) swaps and Unstructured Supplementary Service Data (USSD)  e-payment frauds in a bid to check cyber threats in the telecom industry.

NCC’s deputy director, consumer bureau, Efosa Idehen who stated this at the weekend in Benin City during an advocacy and sensitization programme titled “Shine your eye, no fall mugu”, said the move was to end electronic fraud in the telecom industry.

Represented by the head of consumer protection and advocacy, Mr Clement Omife, said the sensitization became necessary due to the growing concern over the rising trend of fraud perpetuated on telecom platforms (electronic fraud) across the key sectors of the Nigeria economy.

“Attackers (fraudsters) are now targeting telecom networks with the intent of getting access to consumer information in the databank of service providers,” he said.

According to him, the fraudsters conduct SIM swaps of targeted individuals and then carry out USSD-based transactions to defraud citizens of their money.

“They do this by stealing victims’ identities- names, address, bank information, and other information which they use in gaining access to their victims’ bank accounts. They also use the stolen identities to defraud other people and even apply for loans or make online purchases, leaving the victims in debts,” he said.

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Source: Dailtrust

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