Reinforcing its commitment to combatting fraud and protecting customers’ financial interests, Wema Bank commemorated the International Fraud Awareness Week 2024 hosting a seminar in accordance with the global theme for International Fraud Awareness Week 2024, “Share A Story, Stop A Scam”.

The Economic and Financial Crimes Commission, EFCC, the Nigerian Police Force and other institutions were also present at a seminar held at Wema Bank’s Head Office in Lagos on Wednesday, November 20, 2024.
The International Fraud Awareness Week is a global celebration commemorated annually in November with the goal of highlighting the increasing threat that fraud poses on individual, business and societal levels, as well as encouraging individuals and institutions to take proactive steps towards minimising the impact of fraud.

Wema Bank, proactive in its commitment to combatting fraud, has over the years built a reputation of educating and empowering its customers with the knowledge, information and insights needed to help them identify, mitigate and escalate fraud on various levels, further launching its Anti-Fraud campaign through which it has not only continued to spread awareness about fraud but also taken action against fraudsters.

With this remarkably consistent anti-fraud stance, it is no surprise that Wema Bank took the decision to host this visionary seminar in commemoration of International Fraud Awareness Week 2024.

The Bank’s Executive Director of Retail and Digital Business, Mr Tunde Mabawonku, who represented the MD/CEO of Wema Bank, Moruf Oseni stated that the Bank remains committed to championing fraud awareness and combatting fraud.

He said: “Fraud and scam are no longer news and with each day, fraudulent tactics continue to evolve. With the evolution of digital banking. As an institution, we have a role to play and this is why we remain unrelenting in our fight against fraud. Awareness is key, so while we do the backend work of constantly innovating, running checks and advancing our security framework, we go a step further in ensuring that our customers are also equipped to, on their end, complement the work we do in terms of maintaining their financial security; and we do this through awareness, information and education. Our commitment to driving fraud awareness goes beyond International Fraud Awareness Week because the truth is, awareness is a lifelong journey.

“With the digital evolution on constant proliferation, fraudsters are getting more creative in their tactics and the onus is on every one of us, to keep spreading the word about rising fraudulent antics and how to handle them, to ensure that more people are aware and equipped to stay ahead of these fraudsters.

“The theme of the 2024 International Fraud Awareness Week, ‘Share a Story, Stop a Scam’, highlights the significance of this awareness, information and education in combatting and mitigating fraud across the globe; a mindset we continue to embody through our very own Anti-Fraud campaign. As a Bank that prioritises the financial security of our customers, we have over the years undertaken the responsibility of not only keeping our security framework up-to-date, advanced and reinforced against fraud but also educating our customers, equipping them with the knowledge and resources they need to protect themselves from fraud on their end.

“We launched an Anti-Fraud campaign with this very focus and this two-way approach to combatting fraud holds great potential and as we continue to empower our customers and the general public to combat fraud, we take this moment to reiterate our commitment to maintaining the highest standards of information security and prioritising consumer protection as we continue to empower lives through innovation.”

Also speaking, an Assistant Commissioner of Police at the Special Fraud Unit of the Nigerian Police Force, Mr Femi Akinola urged institutions to be active in promoting awareness, and vigilantly monitoring behavioural patterns unusual activity.

He also encouraged victims of fraud to be willing to work with the Police in providing the required information and documents to aid investigations.

Mr Oguzi Moses, an Assistant Commander of the Economic and Financial Crimes Commission, EFCC, on his part, emphasised the importance of promoting a culture of compliance within institutions towards mitigating fraud.

Oguzi further commended Wema Bank for its openness to collaboration and its role in spreading anti-fraud awareness, expressing commitment to continuous collaboration with the Bank.

Other stakeholders present at The Wema Bank International Fraud Awareness Week 2024 are Rypson Ugwuzor, Manager, Cybersecurity and Intelligent Automation, KPMG; legal luminary Akin Adesomoju (SAN), Founder, Akin Adesomoju & Co.; and cybersecurity expert Dr. Obadare Peter Adewale, Founder and Chief Visionary Officer (CVO), Digital Encode Limited.