Last week, we started a discussion on Ransomware attack and Phishing, to further iterate our point, Nigeria central switch records N2.19B loss to fraud. This was stated on Friday, June 4th Guardian newspaper.
According to the report, Governor Godwin Emefiele said the review of the Cybercrime Act became imperative more than before as a result of the insurgence to new trends in cyber-attacks and the introduction of new payment instruments which ae yet to be recognized as legal tenders.
In his words, “there is no gain saying the fact that the importance of technology to all human endeavors in general and financial services industry in particular cannot be overemphasized. The use of Information and Communication Technology (ICT) has revolutionized the way financial services are created, offered and delivered. We have all witnessed how such developments in electronic payments such as the ATM, POS, Mobile Money, Internet Payment etc have continuously eroded the significance of physical locations for financial institutions”.
He noted that the greater the use of the internet and electronic channels, the more the challenges “in the manner of exposures and vulnerabilities”.
“It is inescapable therefore that firm and appropriate legal frameworks must be put in place, supported with sound and effective law enforcement and institutional capabilities to effectively protect these networks and secure the systems and infrastructure from all forms of cybercrimes”.
It is said “Prevention is better than cure”, traditional enterprise fraud systems are overwhelmingly reactive rather than proactive and this why ActivEdge has partnered with IBM Security to bring Trusteer – a Cognitive powered Cyber Crime prevention solution to tackle the growing threat landscape across Web and Mobile platforms.
IBM Trusteer Cyber Crime prevention comes in three (3) Flavors, Trusteer Pinpoint Detect (Detects Malware and account Take-over), Trusteer Rapport which detects and removes financial malware, detect phishing links, man-in-the-middle and Man-in the-browser attacks, makes it possible for individuals to transact securely from any desktop device, and then Trusteer Mobile SDK which prevents Mobile banking/payment fraud. The entire Trusteer product suit incorporates Behavioral Biometrics to separate criminals from legitimate users while ensuring a better user experience.
Call ActivEdge +234(0)906-000-0313: or Email: security@activedgetechonologies.com for further details and Prove of Technology (POT).
