The Nigeria Deposit Insurance Corporation, NDIC, has revealed that the number of fraud cases in banks in the countru increased by 15.71 per cent in 2015.
According to NDIC’s annual report, “a total of 12,279 fraud cases were reported, representing an increase of15.71 per cent over the 10,612 fraud cases reported in 2014.
However, the amount involved decreased significantly by N7.59 billion or 29.63 per cent from N25.608 billion in 2014 to N18.021 billion in 2015.”
The report said: “the actual loss suffered by the insured banks decreased by N3.02 billion or 48.79 per cent from N6.19 billion in 2014 to N3.17 billion in 2015.”
The report noted that the actual loss sustained in respect of internet banking fraud was N857 million, representing 27 per cent of the total actual loss of the industry.
The NDIC lamented that “ there was an increase in the frequency of ATM/Card-Related Fraud cases from 7,181 in 2014 to 8,039 in 2015, an increase of 11.95 per cent”.
However, “the loss suffered by the industry due to such frauds declined significantly by 59.4 per cent from previous year figure of N1.242 billion to N0.504 billion, representing 15.9 per cent of total industry loss to frauds and forgeries.”
Of the 12,279 fraud cases reported by Deposit Money Banks (DMBs), 425 were attributed to insider abuse. The number of fraud cases perpetrated by workers had decreased from 465 in 2014 to 425 in 2015.
Similarly, losses arising therefrom substantially decreased by 70 per cent from N3.165 billion in 2014 to N0.979 billion last year. The highest percentage of frauds and forgeries cases of 38.59 per cent was perpetrated by temporary staff.
