Mr Mohammed Umar, NDIC’s Director, Insurance and Surveillance Department said this at a workshop for Business Editors and Finance Correspondents Association of Nigeria (FICAN) organised by NDIC in Benin City.
Umar, while speaking on “Cybercrime and its Implication for Nigeria’s Banking System’’, said that it was virtually impossible to get an ideal economy because as technology increased, the rate of crime also increased.
Cybercrime is an unlawful act that is done by use of a computer and other technologically improved instruments.
According to Umar, cybercriminals are always in the search to overcome fire walls and securities in technologically driven environment.
This, he said was done with the social and political aim of obtaining information /data or funds as well as destruction of the efficacy of installed servers and related computer application.
He said everyone was a potential target for cybercrime and named victims to include the gullible, greedy, unskilled/inexperienced, trusting and organisations.
According to him, there are various types of cybercrime which include phishing, done through unsolicited messages, denial of service attack, wiretapping, hidden cameras and experts in creating malware among others.
Umar explained that cybercrime could be identified through snail pace, where a person’s computer ran slower than normal and through space invaders.
According to him, hackers are always ahead because as you are building your own system, they are also building their own programmes.