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A Stroke of the Keyboard and Click of the Mouse: an anatomy of cyber frauds as a growing component of illicit financial flows

Article by Erhieyov O’Kenny. Published July 1, 2021.

Erhieyov O’Kenny

Open AccessPeer Reviewed

A Stroke of the Keyboard and Click of the Mouse: an anatomy of cyber frauds as a growing component of illicit financial flows

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Abstract

<p>Advances in digital technology have seen Nigerian conmen migrate their schemes to the cyber domain. With the advent of the COVID-19 pandemic these fraudsters have intensified their cyber attacks on vulnerable victims across the world. Through scams such as phony contracts, internet romance deception, and Business Email Compromise, Nigeria’s cyber criminals make billions of dollars every year at the cost of individuals and corporations.</p> <p>With the enactment of anti-cybercrime laws, the Nigerian government hopes to stem the tide of these practices. The Central Bank of Nigeria, for its part, has issued risk-based cyber security guidelines to financial institutions to enable them better to protect their computer systems and networks from external infiltration. At the international level, law enforcement agencies in the U.A.E have taken steps to track Nigerian cybercriminals operating from their territory, while the FBI has ramped up investigation of cases affecting the U.S.</p> <p>The author recommends that individuals and corporations put locks on their SIM cards and mobile devices, activate two-tier authentication for email and social media accounts, and routinely update their computer devices and software, to enhance their cyber security.</p>

Article Details

Journal
Journal of Academics Stand Against Poverty
Issue
Volume 1, Issue 1, 2021
Section
Articles
Pages
56-73
DOI
10.5281/zenodo.8089873
Zenodo Record
https://zenodo.org/records/8089873
Published
July 1, 2021
Canonical URL
https://scholardemia.com/workspace/asap/article/a-stroke-of-the-keyboard-and-click-of-the-mouse-an-anatomy-of-cyber-frauds-as-a-growing-component-of-illicit-financial-f

References

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