NCC Chief stresses the vital role of ICT in combating financial crimes

Dr. Aminu Maida, the Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), has underscored the significant importance of Information and Communication Technology (ICT) in the fight against financial crimes.

Speaking at the annual Realnews Magazines Lecture in Lagos, Dr. Maida, represented by Reuben Muoka, NCC’s Director of Press, highlighted how ICT plays a crucial role in combating financial crimes. He mentioned its contributions in real-time surveillance, ensuring regulatory compliance, and securing data processing.

Furthermore, ICT facilitates advanced analytics, Artificial Intelligence (AI), and machine learning to aid law enforcement agencies in improving crime detection. Dr. Maida also noted that technologies like CCTV cameras and security systems complement physical security measures.

With technology continually advancing, new avenues for illegal activities have emerged, including concerns related to cybercrime, deepfakes, and the exploitation of IoT devices. Striking a balance between using ICT for crime prevention and protecting data privacy is vital.

Dr. Maida stressed the need for collaboration and international cooperation to effectively combat financial crimes that often cross borders, necessitating a joint effort by states to locate and apprehend wrongdoers.

Additionally, he emphasized the importance of public education and fostering an understanding of internet safety to mitigate the risks associated with the proliferation of criminal activities through technology.