The Nigerian Electronic Fraud Forum has put the value of reported electronic banking fraud cases over the last three years at N5.571 billion.
Director of Banking and Payment System, Central Bank of Nigeria (CBN), ‘Dipo Fatokun also said more efforts are being put in place to ensure security of customers’ funds.
Fatokun, who is also the chairman of the forum, at the unveiling of the 2017 NeFF Annual Report in Lagos yesterday, said as part of efforts to ensure safety of funds in the banking industry, the steering committee of the forum would be instituting an industry customer protection plan that is targeted at reducing the volume of fraud in the system.
He noted that there has been an increase in electronic fraud despite the various efforts put in place to check it. He said “it has become necessary to review and strengthen the existing rules and enact new regulations” to combat electronic fraud in the country.
https://leadership.ng/2018/06/29/nigeria-records-n5-5bn-e-payment-fraud-in-3yrs-cbn/
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