October 13, 2014

Bank customers defraud their banks —FITC

Bank customers defraud their banks —FITC


Financial Institution Training Centre, FITC has said that customers have also been found to be defrauding their banks.

Managing Director/Chief Executive Officer of FITC, Dr. Lucy Newman stated this while speaking on the challenges of electronic fraud at a press briefing with finance correspondence in Lagos.

She said: “FITC has been collecting data on fraud and fraudulence for thirteen years now, and we produce the report quarterly. We have seen and reasonably so, that the banks are more stringent now in terms of recruitment and their reference points on their people. And you will be surprised that some of the quantity of the fraud is actually from the customers defrauding the banks.”

“Sometimes they get slight pollution with the staff or their service providers and the bank has to look for staff internally and terminate employment in some instances and they normally send us data in terms of number of staff involved. We have seen that the percentage of fraud from customers is more,” she added.

The FITC boss further disclosed that her organisation is poised for limitless opportunity in the next five years through a strategic plan that will bring significant change in the financial services sector.