2,669 convictions secured in nine months

City Round has learned that of the 2,669 convictions obtained by the Economic and Financial Crimes Commission in 2022, 1,968, or over 73% were related to cybercrime.Informaion Guide Nigeria

The cybercrime-related convictions include fraud, embezzlement, misappropriation, online fraud, and other financial irregularities committed within the country’s public and business sectors as well as outside.

In answer to a question from City Round, the anti-corruption office stated that the convictions were obtained between January and October 7, 2022.

According to records supplied by our correspondent, the 1,968 cybercrime prisoners were involved in various forms of computer fraud, including identity theft, phishing, malware attacks, bank fraud vishing, and credit card scams, among others.

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This follows protests by youths suspected of being involved in online fraud in the states of Ughelli, Delta, and Ibadan, Oyo. They reported a crackdown by EFCC personnel.

In September 2021, 80% of the EFCC’s 978 convictions were for cybercrime-related offences, according to an EFCC report published in 2021.

It characterised the increase in cybercrime in Nigeria as frightening and worrying and vowed to leave no stone unturned in combating the problem.

The panel highlighted that cybersecurity experts estimate that financial damages and losses could reach $6tn by the end of the year, adding that research indicates that cyber attacks are among the most rapidly expanding crimes worldwide.

According to the Federal Bureau of Investigation, Nigeria placed sixteenth among countries most affected by Internet crime in 2020, as indicated by Deloitte’s “Nigeria Cybersecurity Outlook 2022.” In August of this year, the EFCC, in partnership with the US Department of Justice, sponsored a four-day cybercrime investigation and crypto-currency training for its cybercrime combatants.

The Nigerian Communications Commission also condemned the problem, adding that the country’s increasing cyberattacks had caused more economic, social, and cultural damage than good.

Deloitte’s ‘Nigeria Cybersecurity Outlook 2022’ revealed that Nigeria was ranked 16th among countries mostly affected by Internet crime in 2020, according to the Federal Bureau of investigation. In August this year, the EFCC in collaboration with the US Department of Justice held four-day training on cybercrime and crypto-currency investigation for its operatives to counter cybercrime.

The Nigerian Communications Commission also decried the menace, noting that the rising cyberattacks in the country had caused more economic, social, and cultural harm than good.Jamb Result

“Cyber attacks cause the country to lose about $500m yearly to cybercrime,” it said.

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