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Banks Lose N5bn To Fraudsters In Nine Months – NDIC - Business - Nairaland

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Banks Lose N5bn To Fraudsters In Nine Months – NDIC by dre11(m): 6:43pm On Mar 08, 2021
The Nigeria Deposit Insurance Corporation (NDIC) yesterday said banks in the country lost over N5 billion to fraudsters between January and September 2020.

It said the losses, for only nine months, was comparable to the financial losses insured institutions suffered for the entire 12 months of 2019.

The NDIC’s executive director, corporate services, Mrs. Omotola Abiola-Edewor, stated this at the Corporation’s annual capacity building programme for law enforcement agencies.

The programme with the theme: “Effective investigation and prosecution of banking malpractices that led to the failure of banks in Nigeria”, was held in Lagos.

Abiola-Edewor, who was represented by an NDIC director, Joshua Etopidiok, referenced a report recently released by the Nigeria Inter-Bank Settlement System Plc (NIBSS) as the source of the figures.

She also stated that a total of 52,754 fraud cases were reported to the NDIC against 37,817 in 2018 and 26,182 in 2017, according to the NDIC’s 2019 annual report.

The amount involved in the fraud cases stood at N204.65 billion in 2019, compared to N38.93billion in 2018 and N12.01 billion in 2017, Abiola-Edewor said.

According to her, the total actual loss declined from N15.15billion in 2018 to N5.46billin in 2019.

The NDIC executive director explained that the fraud incidents could be attributed to an increase in the sophistication of fraud-related techniques, such as hacking, cybercrime as well as an increase in Information Technology related products and usage, fraudulent withdrawals and unauthorised credit.

“The channels and instruments through which the reported frauds and forgeries were perpetrated indicated that ATM/Card-related fraud had the highest frequency, accounting for 49.78 per cent of fraud cases followed by web-based internet banking frauds with 21.02 per cent. However, the value of losses was higher in web-based internet banking frauds against ATM card-related fraud,” she said.

Abiola-Edewor noted that the NDIC’s collaboration with sister agencies in law enforcement was to curtail such crimes which were capable of causing irreversible damage to the banking system’s stability.

Also speaking at the event, NDIC legal department director, Mr. B. A. Taribo, said the objective of the workshop is to develop capacity amongst law enforcement agencies in the investigation and prosecution of banking malpractices, with special emphasis on failed banks.

He said the workshop would provide needed synergy among the relevant NDIC staff and the relevant law enforcement officers involved fight against banking fraud.

https://thenationonlineng.net/banks-lose-n5bn-to-fraudsters-in-nine-months-ndic/

1 Like 2 Shares

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by SLAP44: 6:44pm On Mar 08, 2021
Fraudsters are keeping pace with their patron in Aso villa who is looting the oil money grin

21 Likes 3 Shares

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by Lyrics269: 6:46pm On Mar 08, 2021
Fraudsters are better than politicians

7 Likes 2 Shares

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by chatinent: 6:50pm On Mar 08, 2021
How about the ones they defrauded us through unnamed and meaningless surcharges and debits?

51 Likes 5 Shares

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by adesegun121(m): 7:13pm On Mar 08, 2021
Ok
Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by BruncleZuma: 7:13pm On Mar 08, 2021
Banks abi their customers, banks will never refund.

[img]https://media1./images/8e37a33c823145f9cbccc2c92ba820ae/tenor.gif[/img]

55 Likes 3 Shares

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by puyol005(m): 7:13pm On Mar 08, 2021
Bank or customers?

6 Likes

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by babra19: 7:13pm On Mar 08, 2021
Lori....
Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by moneyissweet(m): 7:14pm On Mar 08, 2021
Good news.

The money is better in the hands of fraudsters than you corporate criminals.

23 Likes 3 Shares

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by Lexusgs430: 7:14pm On Mar 08, 2021
Boys and girls, are cashing out......... cheesy cheesy
Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by danvon(m): 7:14pm On Mar 08, 2021
Chai I want to learn fraud

2 Likes

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by EdidemLord(m): 7:15pm On Mar 08, 2021
Fraudsters should beware
Government hate competition

9 Likes

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by momodub: 7:15pm On Mar 08, 2021
Chaiii
Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by WowSweetGuy(m): 7:16pm On Mar 08, 2021
Only...Hiss*

something they will easily recover with only one debit to 80% of customers...imagine these wicked banks charge me for sms alert 800+ when i didn't even get up to 3 credit or debit alert last month. Now Imagine putting hidden charges of 100naira in 500,000 customers which they have more by far like Gtbank

NEXT news Abeg i no want vex

13 Likes 1 Share

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by Sonnobax15(m): 7:16pm On Mar 08, 2021
lipsrsealed
Most Nigerian banks managers are accomplices to these maniacs...So I'm not moved..

7 Likes 1 Share

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by Kendzyma(m): 7:16pm On Mar 08, 2021
So them they run banks street too grin

1 Like

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by PrinxArthur1(m): 7:16pm On Mar 08, 2021
i smell lies, banks didn't loose anything jare it is supposed to be, "Bank Customers loose #5 billion to fraudsters in 9 months"

9 Likes

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by slawormiir: 7:16pm On Mar 08, 2021
Damnnn niggarrrr
Isoright....
I hate local

AlmonDeLemon:


I wan DM u. E get wetin I wan reason with u

Okay....as far say na money, weed, pussy and bombing we want talk about
Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by TemmyT002(m): 7:16pm On Mar 08, 2021
How?
Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by omoteacher(m): 7:16pm On Mar 08, 2021
shocked


Did you say banks abi customers ? Naija banks

are mean.

1 Like

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by Psalmistproject: 7:17pm On Mar 08, 2021
Funny the fraudsters within the bank na the GOAT!
Even bank biz itself na scam wey dem package well, come use government anoint .

3 Likes

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by straighttalk(m): 7:18pm On Mar 08, 2021
Bankers are collaborater.
Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by Emu4life(m): 7:19pm On Mar 08, 2021
Aint the Banks the fraudsters?

1 Like

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by opsyswagger(m): 7:20pm On Mar 08, 2021
Is it bank or customer using the bank
Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by IMASTEX: 7:21pm On Mar 08, 2021
danvon:
Chai I want to learn fraud
Join the government

Meanwhile, it is customers not banks. Banks have been defrauding the customers since 12bc.

2 Likes

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by LyfeJennings(m): 7:21pm On Mar 08, 2021
Lies from the pit of hell
God punish whoever said this
Nigerian banks are one of the safest in the world
I am saying this with all my full chest
5billion kini
Lool
Ordinary 5m naira transaction
The approval wey U go get na like 6million people go give U
Who wan try am
No be all this USSD fraud o and even at USSD fraud, there is a section of the bank code that amputates the customer.
THIS IS A BLOODY LIE
ON GOD

4 Likes

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by Olarsview: 7:21pm On Mar 08, 2021
Sorry o, how much have bank customers lost to corporate thieves?

1 Like

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by Authoreety: 7:21pm On Mar 08, 2021
Nigerian banks dey mad!

Do you know how much these group of thieves steal from there customers daily?

Ecobank is a case study...


Abeg make those idiots no make me vex o....

1 Like

Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by Nobody: 7:21pm On Mar 08, 2021
E be like say i go join this fraud business oo. Na joke o, before Efcc go con arrest me for nothing.
Re: Banks Lose N5bn To Fraudsters In Nine Months – NDIC by TeemahBeddings0: 7:22pm On Mar 08, 2021
And what did they put in place to avert such situations in the future?

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