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Financial Fraudsters – NIMC and NIBSS Are Coming. Developing Web Based Identity Verification and Authentication Services To Combat Fraud

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Tekedia Editors
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Nigerians poisoned Internet and made it a place where many people do not have confidence to do business. It is so bad that some businessmen in the nation do not believe any email document. They have been ripped off by the old Yahoo boys. One just hopes that the mobile ecosystem will not be destroyed the same way.

 

Financial fraud has also gone up. Many young men want to make it very quick and early. Patience is no more desired as the rich syndrome is a plague.  To overcome this problem of fraud and mitigate the impacts in the international arena where it denigrates the image of the nation, National Identity Management Commission (NIMC) and Nigerian Interbank Settlement System (NIBSS) are partnering. They want to use their web based identity verification and authentication services to stop financial fraud.

 

This is an ongoing project and when it is completed, it will be possible to ensure that financial fraud is prevented through good verification and authentication mechanism. The system will look for fraud and ensure that money laundering is averted. Of course, the bad guys will be apprehended.

 

More About NIMC

Identity as a concept has been a part of mankind. Verifying the identity of an individual or organisation has become very important in today’s business and technology driven world.

 

Prior to the enactment of the NIMC Act No. 23 of 2007 establishing the National Identity Management Commission [NIMC], the various identification schemes, including the database and issuance of identification cards both in private and public sectors, resided with the respective organisations.

 

There has been no unique set of principles, practices, policies, processes and procedures that are used to realise the desired outcomes related to identity, not to talk of an identity management system infrastructure that assures a secure verification process.

 

More About NIBSS

Nigeria Inter-Bank Settlement System is owned equally by all licensed banks in Nigeria, and the Central Bank of Nigeria. Discount Houses operating in Nigeria also hold substantial shares. The Board of NIBSS at every point comprises of Central Bank of Nigeria as the Chairman, representatives of Banks, Discount Houses as Directors and the Managing Director/CEO.

The Bloggers Strategy – Microsoft Hosts Interactive Social Media in Lagos

By
Tekedia Editors
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0

Technology has transformed the way we communicate. You must not rely on the newspaper guys and radios these days to push the message on your products and services out. A new medium has already evolved. That is the social media and we are all enjoying it. It is disruptive because it is the most democratic medium. It requires nothing but talents and the person is ready to roll.

 

So Microsoft knows that. Recently, it hosted a Brunch where the leading bloggers in the nation came together and chatted with their team. It is all about getting their message out and in the way they want it. Microsoft does this every quarter and it is now a top strategy in their business communication. By bringing the people together, they explained their products, tools, concepts and experiences and then asked them to share them.

 

As competition heats up in the marketplace, any advertising avenue is necessary.  For Microsoft, getting their contents out is important with Google well rooted in Nigeria now. And they want that to form the narratives in the blogger’s columns. Facebook, Twitter, Blogs and Youtube are all business tools. Ignore them and your business is sunk. It has to be because when a blogger specializes, he or she can have more influence than a newspaper that covers everything.

 

In this Brunch, Microsoft presented Windows 7 and the new browser IE ver. 9.  There is no need to waste your time here reviewing Windows 7. It is a great product and Microsoft nailed it perfectly. For IE 9, it does not matter because we use Firefox here.

 

Tekedia Launches Tekedia Innovation Forum

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Tekedia Editors
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Simply, we are launching Tekedia Innovation Forum. This will help us continue to develop interactions with our readers. We thank our readers for such a positive outlook. You wanted it and today, we are very happy to offer you a forum. Visit, share, learn and progress. We will be posting more details very soon.

“Right To Be Forgotten” – You Want A Search On You To Return Nothing. The New Debate in Spain

By
Tekedia Editors
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0

Associated Press reports this fascinating pattern in Spain where folks do not want to be remembered on the web. They just want to be forgotten. We are reproducing here because the link will expire within hours . AP – sorry about that.

 

MADRID – Their ranks include a plastic surgeon, a prison guard and a high school principal. All are Spanish, but have little else in common except this: They want old Internet references about them that pop up in Google searches wiped away.

 

In a case that Google Inc. and privacy experts call a first of its kind, Spain’s Data Protection Agency has ordered the search engine giant to remove links to material on about 90 people. The information was published years or even decades ago but is available to anyone via simple searches.

 

Scores of Spaniards lay claim to a “Right to be Forgotten” because public information once hard to get is now so easy to find on the Internet. Google has decided to challenge the orders and has appealed five cases so far this year to the National Court.

 

Some of the information is embarrassing, some seems downright banal. A few cases involve lawsuits that found life online through news reports, but whose dismissals were ignored by media and never appeared on the Internet. Others concern administrative decisions published in official regional gazettes.

 

In all cases, the plaintiffs petitioned the agency individually to get information about them taken down.

 

And while Spain is backing the individuals suing to get links taken down, experts say a victory for the plaintiffs could create a troubling precedent by restricting access to public information.

 

The issue isn’t a new one for Google, whose search engine has become a widely used tool for learning about the backgrounds about potential mates, neighbors and co-workers. What it shows can affect romantic relationships, friendships and careers.

 

For that reason, Google regularly receives pleas asking that it remove links to embarrassing information from its search index or least ensure the material is buried in the back pages of its results. The company, based in Mountain View, Calif., almost always refuses in order to preserve the integrity of its index.

 

A final decision on Spain’s case could take months or even years because appeals can be made to higher courts. Still, the ongoing fight in Spain is likely to gain more prominence because the European Commission this year is expected to craft controversial legislation to give people more power to delete personal information they previously posted online.

 

“This is just the beginning, this right to be forgotten, but it’s going to be much more important in the future,” said Artemi Rallo, director of the Spanish Data Protection Agency. “Google is just 15 years old, the Internet is barely a generation old and they are beginning to detect problems that affect privacy. More and more people are going to see things on the Internet that they don’t want to be there.”

 

Many details about the Spaniards taking on Google via the government are shrouded in secrecy to protect the privacy of the plaintiffs. But the case of plastic surgeon Hugo Guidotti vividly illustrates the debate.

 

In Google searches, the first link that pops up is his clinic, complete with pictures of a bare-breasted women and a muscular man as evidence of what plastic surgery can do for clients. But the second link takes readers to a 1991 story in Spain’s leading El Pais newspaper about a woman who sued him for the equivalent of euro5 million for a breast job that she said went bad.

Africa Has Opportunities. How The World Will Help It Get Better

By
Tekedia Editors
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While attending a UN-sponsored workshop last month in Freetown, Sierra Leone, I noticed an amazing transformation in that country, fuelled primarily by the Chinese. In my hotel, the TV remote controller was marked in Chinese. This is a nation where English is the official language, but I saw many young Chinese men, getting ready for work.

 

From Freetown to Brazzaville, this is the new Africa — Chinese investing massively in the continent, buying the mines to support their booming economy, despite restricting export of their rare earth metals. With influx of capital and improved democratic institutions across the continent, foreign investors are aggressively looking for opportunities there. But China’s style of giving cash in exchange for mine control has endeared it to most African leaders. This strategy has worked so well that an estimated one million Chinese are living in Africa today.

 

Though the traditional media continue to report wars, famine, and HIV, most business media showcase Africa as a continent with opportunities. There’s a growing middle class, expanded GDP, and general optimism in the region. Multinational companies are opening offices and investing in the continent. Africa has become a place where financial institutions are financing real estate projects.

 

Yet, is it possible to create a modern Africa without investing in knowledge? Is this growth sustainable, after the minerals are depleted? The educational institutions remain underfunded, so it’s difficult to to create knowledge and diversify the economies beyond minerals. Strikes in universities are common and quality remains very low, especially in technical education. Little shows that Africa is prepared for the post-mineral era. The current foreign investment model focuses on accelerating consumption and exploration of minerals. Few investors focus on building capacity. While the tech giants build factories and research centers in Asia, they open offices to sell products in Africa. The most common excuse for this is that African talents are not ready for research; yet, those talents are good enough when new mines are discovered.

 

There is a genuine optimism from many parts of the world that Africa is moving in the right path. Yet, few can explain the sustainability roadmap for the post-mineral era. Throughout human history, new ideas have built nations. Africa is not creating any. The British ruled the world with knowledge during the industrial revolution. The Americans took over through investments in science and technology; today, the greatness of the U.S. depends on its excellent technical universities. If the U.S. loses its abilities to create and innovate, within a generation it will cease to lead the world. Look at what the BRIC nations have accomplished: China has educated women, India has invested in technical education, and the literacy rate in Brazil is now quite high. Africa has not educated its women, the technical education is still outmoded, the illiteracy rate is still high, and the infrastructure remains broken. Yet, because the Chinese are in town with cash, the world sees an illusion of more progress than there really is. Our problem is that the world has not invested helpfully in Africa — few invest in education, infrastructure, and research. Throughout the continent, we still don’t have reliable electricity.

 

People will criticize me for taking this problem to the foreign investors. Nonetheless, I still ask: Why shouldn’t the multinational companies that build real estates and mines put a small percentage into African education? If you spend millions developing real estate in the continent, you may be disappointed when the Chinese leave after the mines have been exhausted. Unless you plan to follow them, now is the time for sustainable investment in Africa where companies, especially Western ones, commit a certain percentage of these investments into areas that can build capacity. Build research centers, invest in for-profit education, and help develop a new generation of African technical leaders that will keep this present momentum going. Think about this before you invest in the next mine or oil rig in Africa.

 

Author: Ndubuisi Ekekwe

Originally published in HBR under a different topic

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