The Executive Vice Chairman/ Chief Executive Officer of the Nigerian Communication Commission (NCC), Dr.Aminu Maida has said continued investment in Information Communications Technology (ICT) will play a critical role in combating financial crime in the country.
The NCC boss disclosed this in Lagos at the 11th anniversary lecture series of RealNews Magazine. He pointed out that “multidisciplinary and multi-stakeholder strategy, combining technology specialists, legal professionals, and legislators, are critical in keeping up with emerging criminal methods. Public education and understanding of internet safety are also important in limiting the risks linked with the spread of criminality via technology”.
Dr Maida said with the increasing adoption of digital technologies, the emergence of new technologies, and the often-transnational nature of crimes, the scope of financial crimes has broadened and created further concerns.
He noted that as technology advances, new avenues for illegal conduct emerges. Cybercrime, deepfakes, and the exploitation of IoT devices all represent substantial concerns.
Stressing that it’s critical to strike a balance between using ICT to prevent crime and protecting data privacy. “Collaboration and international cooperation are required to effectively tackle financial crime. Financial crimes frequently cross borders, necessitating a collaborative effort by States to track down and capture culprits “.
According to him, ICT plays a critical role in combating financial crimes by enabling real-time surveillance, regulatory compliance, and secure data processing.
Adding that It provides advanced analytics, AI, and machine learning to law enforcement organizations for better crime detection. “Furthermore, hard technologies such as CCTV cameras and security systems supplement physical security measures”.