Magu Tasks Banks On Background Checks For Staff

The Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Mustapha Magu has urged financial institutions in the country to do more towards ensuring that their customers are protected from the nefarious activities of cybercriminals.

Speaking as a guest speaker at an event organised by Ilorin Bankers Committee, titled: “Cyber Crimes Threat and Challenges: the role of Financial Institutions,” Magu also tasked the banks to do background checks on their staff saying that have been instances where bankers collude with criminals to defraud their customers.

He said that doing background checks before employment would help to reduce the practice.

The EFCC boss, who was represented by Head, Advance Fee Fraud Unit, Ilorin Zonal Office of EFCC,  Mr Olamide Sadiq tasked financial institutions on awareness creation and education of their customers on the antics of cyber criminals and to collaborate with law enforcement agencies and their in-house cyber security units to identify suspicious activities.

“As financial institutions, you must make sure you create awareness and educate your customers on the dangers of internet fraud and other fraud-related offences,” Magu stated while  advocating for information sharing on cyber crime and money laundering among financial institutions.

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