The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Dr Aminu Maida, has emphasised the essential position of Information and Communication Technology (ICT) in combating financial crimes.

Maida, represented by Reuben Muoka, the Director of Press at NCC, made this assertion whereas delivering a keynote tackle on the annual Realnews Magazines Lecture in Lagos on Tuesday.

He burdened that ICT performs an important position in combating financial crimes by enabling real-time surveillance, guaranteeing regulatory compliance, and securing information processing.

“It provides advanced analytics, Artificial Intelligence (AI), and machine learning for law enforcement organizations to enhance crime detection,” he said.

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

He talked about that as know-how advances, new avenues for unlawful conduct emerge, citing issues comparable to cybercrime, deepfakes, and the exploitation of IoT units.

“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.”