Nigerian DSS Curbs Multi-Billion Naira Cyber Fraud in Financial Sector
The Nigerian Department of State Services (DSS) has transformed into a financial watchdog, actively combating cyber fraud in the country. Working closely with banks, the DSS has thwarted multi-billion naira financial fraud schemes, especially in Lagos and Abuja.
Recent data from the Nigerian Inter-Bank Settlement System (NIBSS) revealed significant losses due to sophisticated fraud tactics like phishing and cryptocurrency-based laundering. The DSS's intervention focuses on intelligence-led operations, cyber forensics, and neutralizing major fraud syndicates, leading to the freezing of 12 bank accounts linked to fraudulent activities in Abuja.
Plus234Feed summary based on reporting from Politics Nigeria. Read the original report below.
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