Banks Lament as Electronic Fraud Rises to N2bn

The rising incidence of electronic fraud in the banking industry has remained a source of concern to operators in the industry. Data gathered by the Financial Institutions Training Centre (FITC) showed that electronic fraud has been on an upward trend since 2010.
This is even more worrisome because the increase has been both in terms of number, volume and sophistication, as the fraudsters have adopted high-powered technology. Continue Reading