Dr. Aminu Maida, Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), has stressed the importance of ICT in the fight against financial crimes.

On Tuesday night in Lagos, at the annual Realnews Magazines Lecture, Maida, speaking through NCC Director of Press Reuben Muoka, made this claim.

By facilitating real-time surveillance, guaranteeing regulatory compliance, and safeguarding data processing, ICT plays a crucial role in preventing financial crimes, he emphasized.

He explained that it helps police departments by providing them with “advanced analytics, Artificial Intelligence (AI), and machine learning to improve crime detection.

“Furthermore, technologies such as CCTV cameras and security systems supplement physical security measures.”

Cybercrime, deepfakes, and the exploitation of Internet of Things devices were all discussed, along with the fact that they pose new challenges as technology develops.

A middle ground must be found between using ICT to deter criminal activity and safeguarding individuals’ right to personal information.

“International cooperation and collaboration are essential for combating financial crime.

“Because financial crimes frequently involve multiple countries, states must work together to investigate and apprehend those responsible.

The risks associated with the spread of illegal activities via technology can be reduced through “public education and an understanding of internet safety.”

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