Fraud Landscape in Nigeria 2015

The world which we are today is not stationery but dynamic. Technology has introduced luxury and simplicity into every facet of life including the financial space. As technology becomes a desirable tool in service delivery within the financial industry, it has also become a strong tool
readily available to fraudsters. Fraudsters are becoming more organized, offensive and sophisticated in their approach. As we keep innovating to protect the financial space, the fraudsters try to evolve to beat mitigants put in place.
From the 2014 landscape report, it was obvious that the Nigerian Financial industry couldn’t look on and allow fraudsters continue to wreak havoc on the industry in Nigeria. All thanks to the Central Bank of Nigeria (CBN) for her innovative policies aimed at tackling frauds in the nation. Amongst the policies are the establishment of fraud desks across the industry, directive on mandatory BVN enrollment for bank customers and deployment of a central Anti-Fraud solution.

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