The growth of electronic payment has given room for the continued prevalence of online fraud with banks recording 78,584 cases in a year,
Also, the Director of Payments System at the CBN, Musa Jimoh, recently disclosed that the rate of fraud had expanded.
The Head of Engineering, OnePipe, Victor Irechukwu, recently disclosed that the rise in the rate of fraud could limit the adoption of e-payment platform in the country.He said, “As much as the country and even individuals would like to go cashless, these bad experiences leave a sour taste in the mouth, and they have continued to rain on the parade as Nigeria marches towards a cashless economy.”
The President of the association, Victor Olojo, stated that those fraud activities were negatively affecting the PoS industry.
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