The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Dr Aminu Maida, has emphasised the critical role of Information and Communication Technology (ICT) in combating financial crimes.
Maida, represented by Reuben Muoka, the Director of Press at NCC, made this assertion while delivering a keynote address at the annual Realnews Magazines Lecture in Lagos on Tuesday.
He stressed that ICT plays a vital role in combating financial crimes by enabling real-time surveillance, ensuring regulatory compliance, and securing data processing.
“It provides advanced analytics, Artificial Intelligence (AI), and machine learning for law enforcement organizations to enhance crime detection,” he stated.
“Furthermore, technologies such as CCTV cameras and security systems supplement physical security measures.”
He mentioned that as technology advances, new avenues for illegal conduct emerge, citing concerns such as cybercrime, deepfakes, and the exploitation of IoT devices.
“It is crucial to strike a balance between using ICT to prevent crime and protecting data privacy.
“Collaboration and international cooperation are necessary to effectively tackle financial crime.
“Financial crimes often cross borders, requiring a collaborative effort by states to track down and apprehend culprits.
“Public education and an understanding of internet safety are also essential in mitigating the risks associated with the proliferation of criminal activities through technology.”