Tag Archives: Bank Fraud

Despite Flutterwave’s insistence that its system was hacked, several bank customers have confirmed their accounts have been frozen in connection with the alleged N2.9 billion fraud on the fintech’s system. Nairametrics gathered that the alleged stolen funds transferred across banks is being traced up to the 5th recipient, most of whom …

…Mobile Fraud Top List In three months, Nigerian bank customers have reported over 27,356 incidents of fraud and forgeries and lost a total of N1.17 billion to fraud in Q2 2022, a report by Financial Institutions Training Centre (FITC) disclosed. FITC disclosed that data from 24 commercial banks shows that this …

…Calls for Robust Staff Recruitment Screening Process The Central Bank of Nigeria (CBN) has disclosed that most of fraudulent activities carried out in the banks were being perpetrated by employees (insiders). The apex bank lamented, says it received 2,051 frauds, ATM card, electronic transactions and excess charges related complaints from …