Connect with us

Telecom

Nigerians Lose N12.5bBn to Telecom-Related Financial Crimes – PwC

Published

on

Kindly share this post

Nigerians lost about N12.5 billion to telecom-related financial crimes from 2019 to January 2023, underscoring the scale and persistence of this threat to the telecommunications industry, PwC Nigeria has said, citing data from the Nigerian Communications Commission (NCC).

Nigerians Lose N12.5bBn to Telecom-Related Financial Crimes - PwC

PwC, in its latest report, ‘AI’s Dual Role in Telecom Fraud: Why Artificial Intelligence is Both a Threat and a Shield for Telcos’, said the growing adoption of AI by fraudsters is amplifying the frequency and impact of fraud.

The report said fraud has long been a persistent challenge in the telecoms landscape, leading to substantial financial losses for customers and reputational damages for telecommunication companies (telcos).

PwC’s latest report, ‘AI’s dual role in telecom fraud’, highlights global trends in how AI is reshaping both the threats and defences in telecommunications.

The publication examined what these shifts mean for operators in the local market and how they can stay ahead by adopting proactive, AI driven fraud management strategies.

It offered insights into how AI is enabling more sophisticated fraud schemes, from deepfake social engineering to automated attacks; the emerging role of AI powered detection and monitoring tools in strengthening fraud prevention frameworks.

The report also gave practical steps for telecom operators to balance innovation, resilience, and customer trust in an AI driven fraud ecosystem.

PwC noted that the impact of fraud on telecommunications companies is far-reaching, resulting in financial losses, reputational damage, and compliance issues.

The report said for instance, that in 2023, global telecom fraud was estimated at $38.95 billion.

It, however, stated that in Nigeria, where telecom acts as a key gateway to financial services through Unstructured Supplementary Service Data (USSD) and some are moving into fintech, these evolving risks place added pressure on operators.

The report stated that while operators have developed systems and controls to manage these risks, the sector’s expansion into adjacent domains (such as mobile money and payment service banking) is blurring the traditional boundaries of telecom fraud.

“The result is a more complex and interconnected risk environment, where both the frequency and impact of fraud are escalating. Adding to this complexity is the rapid pace of technological advancement.

For instance, Russian cybersecurity firm F6 reported a rise in SIM swapping incidents, particularly related to the shift to eSIM technology. These fraudsters are hijacking phone numbers and bypassing security measures to access bank accounts,” the report said.

The report, authored by Udochi Muogilim, Partner and Technology, Media and Telecommunications Leader,  PwC Nigeria, and Adeola Adekunle, associate director, Forensic Services,  however, said as AI continues to mature, it is reshaping the fraud landscape—introducing heightened threats and powerful new tools.

“On one hand, AI can be exploited to scale and automate fraud schemes with unprecedented sophistication. On the other, it equips telcos with advanced capabilities for fraud detection, prevention, and response.

“This dual role—AI as both a tool and a target—underscores the urgent need for Nigerian telecom players to adopt AI thoughtfully and strategically.

“Navigating this evolving landscape requires more than just investment in technology; it demands a deep understanding of what’s happening today in the world of technological disruption, and what’s to come,” the experts stated.

The report reiterated that telecom fraud affects a wide range of stakeholders, from individual consumers facing unauthorised charges to large corporations suffering reputation damage.

“The combination of AI and various fraud types significantly increases the success rate of these schemes.

“Furthermore, the global nature of telecommunications networks allows fraud to swiftly cross borders, complicating efforts to investigate and prosecute offenders, thus presenting a pressing concern for telecom companies and their regulators,” PwC said.

The firm, however, emphasised that AI has the potential to revolutionise how telecom companies and regulators combat fraud while enhancing the quality of service, ultimately fostering greater trust among consumers.

To fully harness this potential, PwC said it is crucial for industry players to stay informed about evolving technology trends and anticipate future challenges.

This awareness, it added, will empower them to leverage AI’s capabilities for more effective fraud prevention and the proactive management of emerging fraud types, all while adhering to responsible AI principles.

“A well-coordinated combination of the right resources and strategic alliances will enable the industry to make a significant impact in the fight against telecom fraud and build a safer, more efficient telecommunications ecosystem,” PwC affirmed.

The firm even went a notch higher by offering to help industry players and stakeholders turn fraud-related friction into forward movement, powered by the right technology.

“We bring trust and transparency to the heart of your decision-making, helping you use AI, data and tech to reduce the risk of fraud, respond swiftly to breaches, and emerge stronger—so you can prepare your business for what’s next,” PwC offered.

 


Kindly share this post

Ebere Melum-Nwogbo is a trained and practicing journalist. She is passionate about ICT and business journalism. She has over a decade experience spanning money and capital market as well as information technology

Telecom

Lebara Nigeria Becomes Member of GSMA Network

Published

on

Kindly share this post

Lebara Nigeria has become a member of the Global System for Mobile Communications Association (GSMA) as it expands operations in the West African country.

Lebara Nigeria Becomes Member of GSMA Network

The membership places Lebara Nigeria within a global network of more than 1,000 mobile operators, device manufacturers, technology companies and digital service providers.

Through the GSMA, the company will have access to industry research, technical standards, policy engagement and industry initiatives.

Lebara Nigeria said the move reflects its participation in the wider telecommunications ecosystem as it develops its operations in Nigeria’s mobile market.

Nigeria’s telecommunications sector plays a central role in the country’s digital economy, with more than 170 million active mobile subscriptions supporting services such as digital payments, e-commerce, education and healthcare.

Industry analysts say participation in international bodies such as the GSMA supports knowledge sharing and the adoption of industry standards.

Lebara Nigeria said GSMA membership will support its engagement with industry developments and policy discussions in the telecommunications sector.

The company said it remains focused on operating in Nigeria’s mobile telecommunications market as demand for connectivity continues to grow.

GSM Association is the advocacy and lobbying organization for the mobile communications industry, representing more than 1,000 mobile operators as full members and a further 400 companies in the broader mobile ecosystem as associate members.


Kindly share this post
Continue Reading

Telecom

Vitel Wireless Warns Public, Says it Not Running any Investment Scheme

Published

on

Kindly share this post

Management of Vitel Wireless, mobile virtual network operator (MVNO), has distanced the company from a fraudulent scheme operating under the name: “Vitel Shares Services.”

Vitel Wireless Warns Public, Says it Not Running any Investment Scheme

In an official statement, the management clarified that Vitel Wireless is not selling shares or running any investment schemes.

They warned that the operators of “Vitel Shares Services” are using unauthorised websites, mobile applications, social media promotions, and bank accounts falsely linked to Vitel Wireless to mislead the public.

The statement reads: ​“The attention of Vitel Wireless has been drawn to a fraudulent scheme operating under the name ‘Vitel Shares Services.’

“We wish to state clearly that Vitel Wireless has no affiliation with Vitel Shares Services, or any platform claiming to offer Vitel shares, investments, or financial products through unofficial channels.

“We do not solicit investments through agents, social media, websites, apps, or third parties. Any platform claiming to offer Vitel Wireless shares or investments outside our official channels is fraudulent and should be treated as such.

“We urge the general public to remain vigilant and verify all information through official Vitel Wireless communication channels before making any payments or sharing personal data.”


Kindly share this post
Continue Reading

Telecom

Airtel Nigeria Deepens Focus on Data Usage Transparency @ Customer Forum

Published

on

Kindly share this post

Airtel Nigeria has concluded its second Customer Forum in Abuja, bringing together a large section of customers including high-volume data subscribers, 5G customers, and key stakeholders in another landmark engagement aimed at addressing concerns around data usage, transparency, and customer experience.

The forum themed “Understanding Your Data and Taking Control 2.0.” aimed to strengthen trust in Nigeria’s rapidly evolving telecommunications landscape. The session also featured inputs from representatives of the Nigerian Communications Commission (NCC).

Delivering the Keynote remarks, Dinesh Balsingh, CEO of Airtel Nigeria, who was represented by Femi Adeniran, Director, Corporate Communications and CSR, emphasised that trust remains the most valuable currency in telecommunications, and Airtel remains committed to strengthening customer confidence through transparency and continuous engagement.

He explained that discussions around data consumption have become increasingly important as digital lifestyles evolve, with smartphones, cloud services, video streaming and emerging artificial intelligence applications significantly influencing data usage patterns.

According to him, Airtel recently introduced the Airtel Data Calculator, an innovative tool designed to help customers estimate their data needs based on online activities such as multimedia streaming, video calls, social media usage, and gaming.

“The purpose of the Airtel Data Calculator is to provide greater visibility, support informed decision-making and place more information directly in the hands of customers. Because transparency should never be viewed as a compliance exercise. Transparency is good business,” he stated.

He further reassured customers that Airtel has no incentive to shortchange subscribers through inaccurate billing, forced spending or unnecessary data depletion, stressing that the company’s growth depends on customer satisfaction, loyalty and trust.

Adeniran also highlighted Airtel’s continued investments in network infrastructure, fibre capacity, digital platforms, artificial intelligence capabilities, customer service systems and workforce development, noting that these investments are aimed at improving service quality and enhancing customer experiences.

Oladokun Oye, Director, Customer Experience, Airtel Nigeria, while welcoming participants to the event, said the forum was created to provide customers with an open platform for education, engagement and problem-solving, noting that the customer remains at the centre of Airtel’s business.

“Data has become central to everyday life, powering work, education, commerce, entertainment, healthcare and countless opportunities. As data usage grows, so too does the desire for greater visibility and understanding.

Today’s conversation is part of an ongoing journey. A journey toward greater transparency. A journey toward deeper understanding. And a journey toward a better customer experience for every Airtel subscriber,” he said.

The forum also featured practical demonstrations on data consumption management, device settings, and usage habits that impact data usage. It also included an interactive session by which Airtel teams provided clarifications and offered feedback to customers.

The Abuja event follows the successful maiden edition held earlier this year in Lagos and aligns with broader industry efforts led by the Nigerian Communications Commission (NCC) to improve consumer awareness, transparency, and confidence within the telecommunications sector.


Kindly share this post
Continue Reading

Trending