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Nigeria Card Fraud

nigeria card fraud

An $80,000 fraud, detected at one of our Nigerian branches, has been used in television broadcasts by the country's Economic and Financial Crimes Commission (EFCC), to raise public awareness about the need to protect bank cards and PIN numbers.

When we called a customer to discuss the funds required to honour a cheque he had written, he was adamant that there were sufficient funds in his account. However, his statement revealed several ATM withdrawals of which he had no knowledge.

Our internal investigation, using CCTV footage, identified a woman making the withdrawals at two ATMs. We were able to identify the car she was using, which was then traced by the authorities and linked to the fraudster. On referral to the EFCC, the suspect was arrested.

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Annual Report and Accounts 2009