The Nigerian Communications Commission is to help telecom subscribers to recover all illegal deductions by network service providers

SUBSCRIBERS to telecom services have lost over N12.5 billion to telecom related financial crimes and deductions since the use of smart phones became prominent in the country, according to the Nigerian Communications Commission, NCC. However, Umar Danbatta, executive vice chairman, NCC, assured that the commission is poised to help subscribers recover all illegal deductions.

The commission has also entered into partnership with the Central Bank of Nigeria, CBN, and other security agencies in the country to fight e-banking frauds. Danbatta, who spoke at a stakeholder’s forum on Financial Fraud Using Telecoms Platform, said transactions carried out with the use of mobile phones have increased in the country.

“As mobile app integration with online payment platforms and other financial resources have improved over the years, the proportion of legitimate trade conducted using mobile phones and other portable devices have also increased. Little wonder then that mobile channels have been seized by cyber-criminals as a new avenue for fraud. Mobile apps as a whole are now quite easy for hackers and cyber criminals to hijack or corrupt, making those tools for fraudsters to steal credentials and impersonate genuine account holders,” he said.

Danbatta said considering the harm done by the fraudsters to the system, it has become imperative for stakeholders to put better authentication system in place to frustrate the activities of the criminals. He, however, said customers have the responsibility to be more vigilant and take their own precautions as well against the fraudsters.

According to him, the commission was committed to building the confidence of subscribers in the e-payment and e-banking systems necessitating the present collaboration with the CBN, the Nigerian Police Force and the Department of State Services, DSS, on the matter. He explained that the collaboration would go a long way to reduce the incidents of mobile devices-related financial crimes, asserting that the forum was part of its effort to save unsuspecting subscribers from falling victim to fraudsters.

Danbatta also said the commission had introduced a toll free number- 264-where subscribers could lodge their complaint, assuring that the method was adopted to ensure that subscribers at various levels get value for their money.

– Feb. 1, 2019 @ 15:42 GMT |