NCC boss, Maida highlights importance of ICT in combating financial crimes

Dr. Aminu Maida, the Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), underscored the crucial role of Information and Communication Technology (ICT) in the fight against financial crimes. Represented by Reuben Muoka, the Director of Press at NCC, he made this point during his keynote address at the annual Realnews Magazines Lecture in Lagos on Tuesday.

He emphasized that ICT plays a pivotal role in combatting financial crimes by enabling real-time surveillance, ensuring adherence to regulations, and securing data processing. It offers advanced analytics, Artificial Intelligence (AI), and machine learning tools that aid law enforcement agencies in enhancing their ability to detect and prevent crimes. Additionally, technologies like CCTV cameras and security systems complement physical security measures.

As technology continues to advance, new avenues for illegal activities emerge, including concerns such as cybercrime, deepfakes, and the exploitation of IoT devices. Striking a balance between leveraging ICT for crime prevention and safeguarding data privacy is of utmost importance.

Maida stressed the necessity of collaboration and international cooperation to effectively combat financial crimes since these offenses often transcend national borders. States need to work together to track down and apprehend wrongdoers.

Moreover, he highlighted the significance of public education and promoting an understanding of internet safety to mitigate the risks associated with the proliferation of criminal activities through technology.