Cybercrimes: Expert advocates regulation of e-commerce industry to check abuse

Mr Efe Igbinova, a digital marketing consultant, has advocated the regulation of e-commerce by the government and other relevant stakeholders in order to reduce cybercrimes.
Igbinova, who is the Managing Director, Harissa Communications Nig. Ltd, in an interview with the News Agency of Nigeria (NAN) on Monday in Benin, said cybercrime was one of the biggest challenges facing the e-commerce industry.
According to him, many companies and customers had been swindled of billions in both local and foreign currencies.
“Government must take the industry seriously and seek to regulate it and have a round table with stakeholders in order to further position the country to reap from this booming industry.
“At the moment, any Dick, Tom and Harry can just open an e-commerce website portal and start marketing without proper profiling and licensing. This shouldn’t be happening.
“There has to be due diligence done on everyone willing to venture into this industry.
“For instance, if you don’t have an e-commerce portal and you want to trade on social media only, there should be a place where one can verify your identity with your name and face to match; like your international passport, driver’s licence, voter’s card, etc.
“So that whatever happens, there will be someone to take responsibility.
“But as it is today, it’s free for all and this is dangerous for the future of this promising industry,’’Igbinova said.
He also called on online companies to always prioritise data security so as to maintain the trust and loyalty of online customers.
“Cybercrime is a high stake industry and profit margins are far greater than any legitimate business.
“And each time a company’s security lines are broken, the trust of online shoppers diminishes.
“While most online companies are doing all they can to ensure there is consumer confidence, a microscopic few have decided to be the drawbacks of the industry,” the digital marketing consultant said.(NAN)