Hope Moses-Ashike
…CBN directs lenders to cut fraud response time
Bank fraud has recorded its first slump since 2021, with the number of reported cases declining steadily across the industry, a trend largely attributed to the effectiveness of the Bank Verification Number (BVN) and the National Identification Number (NIN) frameworks in curbing identity-related crimes.
Reported fraud cases have declined steadily across the industry, while the total value involved in fraud dropped sharply by 51 percent, reflecting improved controls and faster res
…CBN directs lenders to cut fraud response time
Bank fraud has recorded its first slump since 2021, with the number of reported cases declining steadily across the industry, a trend largely attributed to the effectiveness of the Bank Verification Number (BVN) and the National Identification Number (NIN) frameworks in curbing identity-related crimes.
Reported fraud cases have declined steadily across the industry, while the total value involved in fraud dropped sharply by 51 percent, reflecting improved controls and faster res
Source: Businessday.ng | Read the Full Story…
