First Bank of Nigeria held an educational webinar aimed at helping businesses and customers protect themselves from the rising tide of cyberspace fraud typically associated with the final quarter of the year, known as the “ember months.”
Harrison Nnaji, Chief Information Security Officer of FirstBank, led the session during the bank’s quarterly information and cyber security webinar titled, “Social Media Savvy: Protecting Yourself from Online Fraud.”
He highlighted the increased cybercrime activity during the ember months and explained various tricks employed by hackers to deceive victims.
Nnaji stressed that social media has become a double-edged sword, serving as a wealth creation platform for some while bringing misfortune to victims of fraud. He delved into the concept of cybersecurity, outlining common types of online fraud encountered on social media, steps to take when an account is breached, and best practices for online safety.
He cautioned against oversharing personal information on social media and managing too many platforms. “Two or three social media handles should be enough,” Nnaji advised, warning that having too many platforms can lead to lost track of where personal data is stored, increasing vulnerability to hackers.
Nnaji also urged customers to be wary of online freebies that often lure people into scams and advised them to reduce their online exposure, particularly as the influence of artificial intelligence (AI) grows, which has made cybercrime more sophisticated.
“Let’s be careful what we do online,” he added, noting that the cost of recovering losses from cybercrime often matches the amount lost, deterring victims from pursuing legal action.
The webinar’s guest speaker, Ifeoma Okoh, Manager and Data Protection Officer at Information Security and Governance, Risk and Control, Advisory Digital Encode Ltd, outlined common scams, including investment, dating, job, prize and lottery scams, account takeover, clickjacking, phishing, and social engineering.
Okoh emphasized the importance of validating suspicious links, using two-factor authentication on social media accounts, and regularly updating devices to keep security measures current. She also encouraged the public to be cautious of urgent requests, a common tactic used by cybercriminals.
Mr. Emmanuel Okoroji, Head of Threat Intelligence and Risk Management at FirstBank, provided insights into the use of firewalls as a defense mechanism against cyberattacks, further advising customers to approach the bank directly when in doubt about any suspicious activity.
The session ended with a call to action for participants to become ambassadors, spreading the knowledge gained during the webinar to their communities and empowering others to take control of their cybersecurity.
“If you do 10 per cent of what you have heard today, there are chances that you will go through this season without a single loss to cybercriminals,” Nnaji concluded.
