The E-Payment Providers Association of Nigeria (E-PPAN) says no fewer than 250 delegates will attend the 9th Annual Payment Systems and Fraud Conference on Nov. 6 in Lagos.

Mrs Regha Onajite, Executive Secretary/Chief Executive Officer of E-PPAN,  made this known on Thursday in Lagos.

Onajite said that the annual conference usually provided delegates and stakeholders the platform to discuss and proffer solutions on ways to mitigate rising cases of cyber fraud that had become the industry’s greatest challenge.

According to her, a research by Michael McGuire, Senior Lecturer in Criminology at Surrey University, says globally, cyber criminals rake in at least 1.5 trillion dollars every year; which means more than one million dollars (N305, 750, 000) is lost every minute to cyber crime.

“It is this worrisome phenomenon that compelled industry stakeholders to become more concerned about how to ensure an effective, swift and well-orchestrated response to cyber-attacks,’’ Onajite said.

She noted that some of the speakers expected at the event include: Mr Adedotun Sulaiman, Chairman, Board of Trustees, E-PPAN; and Mr Dayo Apata, Solicitor-General of the Federation/Permanent Secretary, Federal Ministry of Justice.

 

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