Computer Crime Research Center


Warning! Hackers!

Date: November 09, 2006

Coordinator of the Nigerian Cybercrime Working Group (NCWG), Mr Basil Udotai, has disclosed that the consolidation of banks has made them vulnerable to on-line crimes.

Udotai said the increase in the capital base of banks to N25 billion had enlisted them among the big financial houses in the world, making targets of high level on-line hackers.

In an interactive forum with representatives of banks in Abuja, the coordinator of the NCWG said the hackers invest a lot of money to buy communication equipment for high level crimes and only big banks attract their interest.

Udotai said some of the banks had already brought complaints of website cloning by unknown persons and the risks would keep increasing as their investments continue to grow.

He stressed the need for all banks to build a "virtual centre'' where they would be sharing information from time to time instead of hoarding facts for fear of competition.

Udotai said the centre for sharing information must be based on a framework of "readiness, responsiveness and resilience "and the benchmarking of global best practices in checking hackers.
"Bankers must share information without the fear that their partners would use it against them in competition and they must have network of security experts'', he said
Udotai said the cybercrime and cybersecurity bill for the country was still before the national assembly but it had already gone through the first public hearing in the senate.

He said the passage of the bill into law would give law enforcement agents the legal backing to investigate, arrest and prosecute on-line crimes.

Reports indicate that all the banks in attendance which include Access banks, UBA,Diamond bank and Skye bank, agreed to endorse a synergy known as FinCERT Nigeria project, to take pro-active measures against hackers.
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2006-11-10 04:39:08 - My concern with the legislative efforts... jude mbamalu
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