CBN Directs DMBs to Establish Industry Fraud Desks

Regulators
3027 VIEWS
Proshare - Facebook Proshare - Twitter Proshare - Linked In Proshare - WhatsApp
Proshare

 Friday, June 12, 2015 2.34pm / Central Bank of Nigeria

The central bank of Nigeria, in furtherance of its efforts at combating fraud within the Banking Industry, established the Nigeria Electronic Fraud Forum (NeFF) to proffer solutions towards addressing fraud arising from the increased adoption of Electronic payment.

Following submissions to the bank by NeFF and consultations with DMBs and electronic payment service providers, it has become imperative that an effective mechanism for receiving and responding promptly to fraud alerts be set up within Nigerian Banking Industry, towards managing and reducing successful electronic payment fraud rate in the Nigerian Banking Industry.

To this end, all DMBs, MMOs, Switches and all payments service providers are hereby directed to maintain a dedicated Fraud Desk in their respective organizations.

CLICK HERE TO DOWNLOAD FULL CIRCULAR

READ MORE:
Related News
SCROLL TO TOP