Lack of proper regulation makes cybercrime thrive, says Green | The Guardian Nigeria News

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Director of the Attorney General Alliance (AGA) Africa, Mr. Marcus Green, has said that cybercrimes thrive on the continent partly due to lack of proper regulation.

Speaking at a webinar on “Digital currencies and crypto derivatives: banking, regulatory and cybersecurity”, Green noted that digital currencies and crypto derivatives are part of the emerging currencies and new payment methods that are gaining acceptance in recent times.

The webinar was organised in collaboration with the Lagos Business School, the Economic and Financial Crimes Commission (EFCC) and the Fintech Association of Nigeria (FinTechNGR).

In his opening remarks, Green said: “The COVID-19 pandemic has escalated the use of those currencies,” he said.

He noted that whereas digital currencies are centralised, meaning that transactions within the network is regulated in a centralised location like a bank, cryptocurrencies and crypto derivatives are mostly decentralised, and are not formally governed or…



Source: Guardian Newspaper

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