Government urges banks, others to prevent cyber attacks

MD, deputy remanded over alleged $166.9m fraud
The Minister of Communications, Adebayo Shittu, has urged banks, companies and other establishments to employ experts to protect their data from cyber attacks.

He made the appeal yesterday in Abuja, while briefing journalists on World Communications Day.

The minister disclosed that cyber criminals were thinking faster and stressed that the Federal Government would act to prevent cyber criminals from taking it unawares.

He explained that government was also ready to provide protection strategies for information release. According to him, it would implement an inclusive open process to foster privacy, security, public trust and the ethical use of data involving a variety of stakeholders.

Shittu called on stakeholders to put stiff measures in place to address the various questionable acts that are trending on the internet such as propaganda and fraud.

He said the theme of the day WTISD-17, “Big Data for Big Impact,” focuses on the power of big data to explore turning imperfect, complex, often unstructured data into actionable information in a development context.

The minister stressed that an unfathomable amount of data flows through the internet every day, adding that the data contain information ranging from the simple everyday conversation to complex and highly sensitive personal and monetary transactions.

He said the big data are the propellers of the knowledge economy that are built on a global telecoms and information communications technology ecosystem.

He said: “Big Data are extremely important technology development and umbrella terms for the large amount of digital data that are continually generated from various devices by the global population.”

The minister stated that efforts were being made to support research and development in the sector to improve the national landscape for data education and training.

Meanwhile, a Federal High Court in Lagos, yesterday ordered the Managing Director of the defunct Integrated Microfinance Bank, Simon Ademola Akinteye and a director Gabriel Adepoju, to be remanded over alleged $166.9 million fraud.