Nigeria lost N6.2bln to cyber crimes in 2014, says EFCC official

RETAIL CyberCrime

About N6.2 billion was lost to cyber crimes in Nigeria in 2014, according to an EFCC official.

Mr Ibrahim Shazali, an official of the Economic and Financial Crimes Commission (EFCC), Bank Fraud Section, disclosed this in Ilorin on Tuesday at the ongoing Nigerian Deposit Insurance Corporation (NDIC) workshop for financial journalists.

He said the figure was grossly higher than the N485 million that was lost through the same channels in 2013.

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Shazali identified Point of Sales (PoS), ATMs and mobile banking as the major avenues where the cyber crimes were being committed.

Culled from Vanguard

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