Data Theft: Skye Bank CEO Seeks Stakeholders’ Collaboration

Skye Bank
  • Data Theft: Skye Bank CEO Seeks Stakeholders’ Collaboration

The Chief Executive Officer of Skye Bank Plc, Tokunbo Abiru, has advocated practical strategies, concerted efforts and close collaboration among stakeholders to prevent proliferation of cloned apps with its attendant effects in the country.

He said experts in the information and communications technology sectors must come together to enhance the sector’s growth.

Abiru made this suggestion in a keynote address on the topic: ‘Strategising against malicious app clones’ delivered at the quarterly general meeting of the Nigeria Electronic Fraud Forum held in Lagos.

The Skye Bank boss, who was represented by the bank’s Executive Director, Technology and Services, Innocent Ike, said, “One of the strategies to deal with this menace was the enactment of the Cybercrimes Prohibition, Prevention Act, 2015 which is meant to regulate the cyber security space in the country and provide for the application of stiff penalties for Internet infractions.”

Abiru, however, said that there was still room for improvement.

He said, “The best way to protect oneself from malicious apps, is to avoid accepting or installing mobile apps originating from unfamiliar sources.

“The explosion in the development and distribution of “apps” has increased the risks associated with the use of smartphones and one of such risks is the Malicious App Clones which is a discourse at this meeting.”

Earlier, the Director, Banking and Payments System, Central Bank of Nigeria, Dipo Fatokun, who is also the Chairman of NeFF, spoke of the readiness of the regulator through NeFF to confront emerging threats in electronic payment with introduction of the USSD mode of payment.

He expressed confidence that banks would continue to work with the Nigerian Communications Commission to co-opt relevant stakeholders to prevent fraud incidence through SIM swaps.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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