Tag fraud

POS fraud cases rise by 31.12% in Q1 2024

The prevalence of fraud and forgery in Nigeria’s payment system has shown a significant shift in the first quarter of 2024, with Point-of-Sale (POS) transactions experiencing the highest increase in fraudulent activities. According to the Fraud and Forgeries Report in…

$500m lost to internet fraud in 2022 – EFCC chairman

The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has decried the negative impact of internet crimes popularly known as “yahoo yahoo’’ on the country. Olukoyede disclosed that several international companies had to shut down their Nigerian operations…