The Executive Vice Chairman, EVC, of the Nigeria Communications Commission, NCC, Dr Aminu Maida, has reiterated the critical role of Information and Communication Technology, ICT, in combating financial crimes.
Maida, represented by the Director of Press of the NCC, Reuben Muoka, stated this while delivering a keynote address at the annual Realnews Magazines Lecture in Lagos on Tuesday.
He stressed that ICT is critical in combating financial crimes by enabling real-time surveillance, regulatory compliance, and secure data processing.
“It provides advanced analytics, Artificial Intelligence (AI) and machine learning to law enforcement organizations for better crime detection,” he stated.
“Furthermore, hard technologies such as CCTV cameras and security systems supplement physical security measures.”
He said that as technology advances, new avenues for illegal conduct emerge, adding that cybercrime, deepfakes, and the exploitation of IoT devices all represent substantial concerns.
“It is critical to balance using ICT to prevent crime and protecting data privacy.
“Collaboration and international cooperation are required to tackle financial crime effectively.
“Financial crimes frequently cross borders, necessitating a collaborative effort by States to track down and capture culprits.
“Public education and understanding of internet safety are also important in limiting the risks linked with the spread of criminality via technology.”