This is the sad story of how Nigerian Banks lost a whopping N2.19 to fraudsters through electronic frauds. This much was revealed by The Deputy Governor, Operations, Central Bank of Nigeria, CBN, Adebayo Adelabu while unveiling a report on electronic frauds by the CBN yesterday..
Throwing more light on this at the first stakeholders’ workshop on cybercrime organised by the Nigeria Electronic Fraud Forum and themed: “Tackling Enforcement Challenges under the Cybercrime Act”, Mr. Adelabu said that according to the report, 19,531 fraud cases were reported by banks in 2016 as against 10,743 recorded in 2015.
While giving a breakdown, he stated that the actual amount lost showed that across the counter transactions with a total value of N511.07milllion accounted for the highest losses.
Followed by Automated Teller Machine, ATM, transactions with N464.5 million, Internet banking N320.66 million, Point of- Sale, POS, transactions, N243.32 million, and mobile banking transactions, N235.17 million among others.
