Central Bank Recognises FirstBank’s E-Fraud Efforts

Central Bank of Nigeria, Abuja

Enterprise Television- Central Bank Recognises FirstBank’s E-Fraud Efforts

FirstBank, showcasing the strength of its brand, won two of the three Central Bank of Nigeria (CBN) awards up for grab in the keenly contested Nigerian Electronic Fraud Forum (NeFF) 2017 Annual Dinner and Awards Night held at the Federal Palace Hotel recently.

FirstBank FraudDesk emerged as the “Best FraudDesk” and the “most Cooperative FraudDesk” in the Industry.

The awards prove that investment in security of customer’s funds does have its rewards. Following the appointment of  Dr. Adesola Kazeem Adeduntan, as the Managing Director/Chief Executive Officer, FirstBank management embarked on reengineering program of the Banks technology, operations and up-scaling the skill of its personnel with security of its customer’s funds as key priority, given the Banks massive investments in alternate electronic transaction channels and Technology.

The winner of the respective categories was generated through an industry-wide online survey carried out by the Central Bank of Nigeria in partnership with NIBBS. The Bank with the majority of votes across all sectors was accorded the winner of the respective category.

A key asset in the fight against cybercrime and electronic fraud is FirstBank’s world class Security Operations Center (SOC) and FraudDesk with capability to track and monitor customers transactions and carry out intervention efforts and recovery when the need arise using advanced fraud analytics tools and security systems.

FirstBank SOC facility with advanced Security technology runs a 24/7 operation with highly skilled staff and State of the art security tools and appliances, the department operates within the office of the Group Executive Technology and Servicers Mr. Callistus Obetta.

Adesola Adeduntan, MD/CEO, First Bank of Nigeria Limited and Subsidiaries in his remarks on the awards, said: “Given the growing adoption of alternative channels by the banking community in Nigeria and the increasing threat posed by cybercriminals on the Nigerian Payment System, protecting our customers is a challenge the banking industry will continue to face.

“The need to collaborate on all fronts in order to be steps ahead of the cybercriminals remains the only option available to combatting cybercrime which is why FirstBank FraudDesk and other functions within its operation will continue to champion the industry collaborative spirit to ensure security and the protection of evolving electronic payment climate of the financial sector of the Nigerian economy.”