Expert calls for ethical digital finance leadership

Blessing Umoh, a top professional in fraud prevention and compliance, has urged a stronger compliance systems, smarter fraud prevention, and ethical leadership in digital finance.

Umoh exclusively told BusinessDay that the greatest challenge currently facing financial institutions is keeping pace with the sophistication of financial crime.

According to her, fraud has evolved beyond traditional methods into highly digital, fast-moving, and often coordinated activity.

“Institutions must now deal with cyber-enabled threats, internal vulnerabilities, and regulatory pressure all at once. The response must be equally advanced, combining technology, strong controls, and sound leadership,” she noted.

She stressed that an effective system must be proactive, not reactive and requires strong transaction monitoring, clear compliance processes, timely escalation, and skilled professionals who can interpret risk beyond what automated tools can detect.

“Technology is important, but governance and accountability are what make it work.

Having worked on compliance frameworks for financial firms and government ministries, Umoh emphasisd that compliance is essential because it protects institutional integrity.

“It is not just about meeting regulations; it is about creating systems that promote transparency, accountability, and trust. Whether in banking or government, a strong compliance culture reduces risk and strengthens public confidence,” she stressed.

On how closely linked are fraud prevention and cybersecurity presently, she added that they are inseparable.

“Many financial fraud cases now originate from cybersecurity weaknesses, whether through compromised systems, stolen credentials, or digital manipulation. Institutions can no longer treat fraud prevention and cybersecurity as separate functions. They must be integrated,” Umoh said.

She urged institutions to treat compliance and risk management as strategic priorities.

That means investing in better systems, continuous training, ethical leadership, and stronger collaboration across departments. Institutions that want long-term stability must build resilience into their operations.

Closing With her extensive experience across banking, compliance advisory, and public-sector governance, Umoh remained a respected authority in fraud prevention and digital risk management.

At a time when financial systems face increasing threats, her perspective underscores the importance of strong controls, ethical leadership, and institutional accountability.

With a distinguished career across major financial institutions including First Bank Plc, Union Bank Plc, and Fidelity Bank Plc, she has built extensive expertise in fraud analysis, transaction monitoring, customer due diligence, operational risk control, and regulatory compliance.

In the first three quarters of 2023, she served in the banking and financial services sector at First Bank Plc, where she focused on fraud prevention, risk management, and transaction monitoring.

Her work included reviewing suspicious transactions, supporting fraud mitigation systems, and ensuring compliance with internal controls and regulatory standards. Beyond banking, she has also helped financial institutions develop compliance frameworks and supported government ministries in drafting state-wide compliance directives, reflecting her influence in both corporate and public-sector governance.

In August 2023, she began a dual graduate programme at the University of Pittsburgh, Katz Graduate School of Business, and pursued an MBA and a Master of Science in Management Information Systems, with focus areas in business strategy, ethical leadership, and Management information systems.