Nigeria Security and Civil Defence Corps (NSCDC) says it has so far arrested and prosecuted 113 Internet fraudsters this year over SIM Swap and Internet banking fraud.
Details of the arrests are contained in a memorandum presented to the House of Representatives Ad-hoc Committee investigating the unabated cases of SIM Swap fraud.
Submitting the report to the Ad-hoc Committee chairman, Abubakar Fulata, the NSCDC said it carried out the arrest and prosecution on cases bothering on: illegal SIM registration, unauthorized use of 5.4ghz frequency spectrum by some public and private institutions, use of expired communication licenses, illegal sale of foreign SIM cards and tariff and unlawful interferences into assigned licensed frequency.
Authorities of the Nigerian Communications Commission (NCC) stated that during the analysis of samples of more than one point seven-five million SIM swaps carried out by 4 Mobile Network Operators between June and August, 2019, 86.59 per cent of the SIM swaps complied with the criteria set at the industry level.
The NCC has already issued pre-enforcement notices to all Mobile Network Operators to explain the circumstances leading to SIM replacements without full supporting documents as specified in Paragraph 6 of the Commission’s guidelines on SIM replacement, 2017.
According to a report published in 2018 by the Nigerian Inter-Bank Settlement System (NIBSS), Nigeria’s banking industry had lost between the whooping sum of N12.30 billion to various frauds between 2014 and 2017.
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