A report by FITC has revealed that bank customers in Nigeria lost a total of N2.72bn to fraud in the first and second quarters of 2022.
The report read in part, “Evaluating the total amount lost to frauds in Q2 2022 reveals that Mobile Fraud accounts for 38.18 per cent at N449m loss, followed by Miscellaneous & other types of fraud accounting for 32.19 per cent and Suppression of Entries at 11.02 per cent .
“With regards to the returns by payment channel, the analysis reveals that there was a decrease in the amount lost to fraud via the web, ATM and PoS channels.” The FITC further said it was necessary for banks to further strengthen their internal control measures for improved efficiency in pre-empting fraud activities and ultimate prevention of fraud.recently reported that at least 6,047 Bank Verification Numbers of bank customers have been placed under the CBN watch-list for fraudulent transactions.
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