How we are stopping banking e-fraud – CIBN

The Chartered Institute of Bankers of Nigeria (CIBN) has said based on its clampdown on bankers who perpetrate criminal activities in the banks, cases of e-banking fraud have reduced significantly.

The President /Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Mr. Bayo Williams Olugbemi, disclosed this on Monday when he paid a courtesy call on the Management of Media Trust Limited, the Publishers of Daily Trust, Aminiya, Kilmanjaro and other titles.

The CIBN Management led by the president was at Media Trust to seek for partnership ahead of its 13th Annual Banking and Finance Conference beginning today in Abuja. It has the theme: Facilitating a Sustainable Future: The Role of Banking and Finance.

Olugbemi said CIBN has a disciplinary committee that investigates all cases of fraud relating to bank staff. And if any staff is reported to the Committee, the staff will also have a lawyer to defend him or her and a retired judge is the assessor of that Committee.

“CIBN has a committee called Bankers sub-committee on Ethics and Professionalism, any fraud case that comes to that committee, it is very hard for the banks to go free. We have people of integrity on the committee. They have recovered billions of naira over the years for the customers.

“We train and also support legal and ICT staff. We do a lot of programmes in cyber security” he assured, adding that CIBN will continue to have training sessions on cyber security so that its members can be up to date with new trends in cybercrime.

The 2nd Vice president of CIBN, Mr. Kenneth Opara, said the report that is coming out shows that the rate of e-fraud has dropped to less than 5 per cent, and that it is a serious offence for banks to conceal cases of fraud that happen in their banks.

“Every month, banks are supposed to report fraud and it’s a serious offence if they don’t report fraud. Those bankers are made to face the disciplinary committee.”