Amid rising digital fraud, the Association of Certified Fraud Examiners (ACFE), Lagos chapter has encouraged anti-fraud professionals across the board to embrace collaboration to defeat scourge.

At the association’s sixth anti-fraud conference and Investiture of its 2nd President, Don Ogbonnaya in Lagos, recently, professionals were also tasked to up their game such that will enable them harness technological tools to deal with tech-enabled fraudulent exploits.

In his address, Ogbonnaya reckoned that fraud practice in Nigeria has assumed a stage where it is now fighting back, adding that perpetrators are further empowered by technological tools.

According to him, money laundering which is common in this clime has been further made easy with technology as well as the Anti-Money Laundering regime introduced by countries recently.

He explained that the association was worried about this threat, hence the theme of the conference, “Technology, Fraudulent Activities and crimes in the 21st Century”.

He said, “The choice of the theme underscores the need of time, our focus on technology in the 21st century is therefore not misplaced. Suffice it to say that cross-border nature of technology has heightened the need for collaboration within the law enforcement circle. It’s high time anti-fraud agencies and practitioners joined forces in curbing the menace of crime in the society.”

On his part, Guest of Honour and a former President of Chartered Institute of Taxation of Nigeria, CITN, Adesina Adedayo maintained that while technology had brought immense benefits, it equally had opened new avenue for fraudulent activities but can be confronted with collective intelligence and collaborative efforts.

“In addition to collaboration, we need to leverage artificial intelligence, machine learning, data analytics and other cutting -edge technologies to enhance ability to detect, prevent and investigate fraudulent efforts,” Adedayo said.

He stated further that educating concerned persons on emerging threats as well as equipping them with protective tools will go far in nipping the menace in the bud. (THISDAY)

Update news