NCC’s Maida explains the importance of ICT in combating financial crimes

The role of information and communication technology (ICT) in fighting financial crimes is crucial, according to Dr. Aminu Maida, the Nigerian Communications Commission (NCC) representative.

He spoke at the annual Realnews Magazines Lecture in Lagos on Tuesday, where he highlighted how ICT can help monitor, regulate, and secure financial transactions.

He said that ICT can also leverage advanced analytics, artificial intelligence (AI), and machine learning to assist law enforcement agencies in identifying criminal activities.

“Moreover, technologies such as CCTV cameras and security systems can complement physical security measures,” he added.

He acknowledged that technology also creates new opportunities for illegal activities, such as cybercrime, deepfakes, and IoT device exploitation.

He emphasised the need to balance the use of ICT for crime prevention and data protection.

He called for collaboration and international cooperation to effectively combat financial crime.

He noted that financial crimes often transcend national boundaries, requiring joint efforts by states to track and arrest offenders.

He also stressed the importance of public education and internet safety awareness in reducing the risks associated with the spread of criminal activities through technology.