Cyber-crime: NSE bans companies from using webmails

To combat cyber-crime, the Nigerian Stock Exchange (NSE) has banned the use of  web-based email accounts as a means of communication among capital market operators.

According to reports, the NSE is restricting all web-based emails from its domain and has given its members till September 30 to start operating fully with emails registered on private domains.

“All companies in the NSE must comply with the requirements of its Minimum Operating Standards (MOS) on or before the said date or risk rejection of their communication,” the NSE said in a statement.

The reasons for the directive: According to the NSE, there has been a significant increase in cyber-crime, cyber-attacks and threats. These caused data breaches, business disruptions and reputational damage for business organisations.

The Exchange said sending electronic messages is one of the media cyber-criminals use in targeting their victims, as well as infiltrating and compromising Information Communication systems of the targeted organisation.



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