The internet has opened up organizations as well as consumers of product and services to unprecedented opportunities never experienced before with the dawn and evolution of the World Wide Web. The entry of smartphones and other electronic methods of mass communications into the financial service sphere has created huge consumer privacy concerns. Personal information, when misused or inadequately protected, can result in identity theft, financial fraud, and other problems that collectively cost people, businesses, and governments millions of Naira each year.
In addition, cybercrimes and civil disputes consume huge resources, proofing liability often involve lengthy investigations. Information and cybersecurity has never been so important as it has become today, the practice of preventing unauthorized access, use, disclosure, disruption, modification, inspection, recording or destruction of information which hitherto was the preserve for the protection of enterprises data has changed, emphasis today is on educating customers on the safe use of the internet and protection of Personally Identifiable information (PIIs) which are sensitive personal information that individuals provide in the course of everyday transactions online and through mobile services which has become the target of cybercriminals as customer appears to be the weak link in the chain of security.
From the foregoing, the FirstBank Group has been committed to following information and cybersecurity best practices and standards with the implementation of the ISO 27001 Information Security Standard and other supporting standards, being the First Financial institution in Nigeria to achieve this prized certification the Group has pioneered the engagement of the generality of banking product consumers through various mass communication channels such as news prints, radio jingles, bank service touch points such (ATMs and banners displayed across its branch network and the internet to educate and crate cyber-literate consumers which remains the best defence for cyber criminality.
FirstBank has remained unrelenting and committed in its drive to ensure the safety of customer’s data with various laudable security best practice and systems implementation. While all over the world criminal syndicates have leveraged on the competition between organisation to profiteer from the act of criminality which include the sale of stolen information, sponsorship of espionage and other internet crime with the key source of these information leakages being end users and insiders within these organisations.
FirstBank through its information and cybersecurityimplementations which includes its 24/7 state of art Security Operations Centre, Threat intelligence feeds and staff awareness initiatives have continued to build an is aware staff, third party services providers and contractors. With set service level agreement our stakeholder community choose to do the right thing as regards ethics in a world of technology which the ease and anonymity with which information can be communicated, copied, and manipulated in online environments are constantly challenging traditional rules of right and wrong behaviour. Ethical issues confront individuals (staff and customers) who must choose a course of action, often in a situation in which two or more ethical principles are in conflict and only superior security knowledge of what constitutes security best practice will protect classified information. This can only be achieved through continuous awareness training and implementation of global information security best practices.