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Bank Customers Lose N2.72bn To Fraudsters – Report

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A report by FITC has revealed that bank customers in Nigeria lost a total of N2.72bn to fraud in the first and second quarters of 2022.

It was also disclosed that there was a total of 67,878 cases of fraud recorded within this period.

This was according to the second quarter report obtained by our correspondent from the website of FITC.

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FITC’s institutional members are members of the Nigerian Banker’s Committee, which comprises the Central Bank of Nigeria, the Nigeria Deposit Insurance Corporation and all liscensed banks in Nigeria.

READ ALSO: Hackers Steal $11m From Nigeria, Others

The data, however, showed a decline in the number of fraud cases across the banks compared to the first quarter of 2022.

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According to the report, a total of 27,356 incidents of fraud and forgeries were reported in Q2, compared to 40,522 reported cases in the first quarter of 2022, representing a 32.49 per cent decrease between within the periods.

The total sum reported to be involved in fraud cases during the period also decreased by 40.05 per cent from N14.65bn in Q1 2022 to N8.78bn in Q2 2022.

Likewise, for the total amount lost due to fraud incidences, there was a slight decrease of 23.66 per cent from N1.54bn in the first quarter of 2022 to N1.17bn in the second quarter of 2022.

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The report showed that mobile fraud which includes fraud activities through USSD transactions had the highest occurrence followed by computer/web fraud and POS fraud.

The report read in part, “Evaluating the total amount lost to frauds in Q2 2022 reveals that Mobile Fraud accounts for 38.18 per cent at N449m loss, followed by Miscellaneous & other types of fraud accounting for 32.19 per cent (N379m) and Suppression of Entries at 11.02 per cent (N129.64m).

“A closer look at the unusual amount recorded under the miscellaneous fraud revealed that the fraud was carried out via E-naira for which the banks were liable.

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“With regards to the returns by payment channel, the analysis reveals that there was a decrease in the amount lost to fraud via the web, ATM and PoS channels.”

“The amount lost via the web channel decreased considerably from N1.07bn to N98.4m while the amount lost via the ATM channel decreased from N43m to N5.9m. On the other hand, an increase was noted in the amount lost via the bank branch, mobile fraud channels, from N103.45m to N618.24m (497.56 per cent) and N270.92m to N449.03 million (65.74 per cent).”

The FITC further said it was necessary for banks to further strengthen their internal control measures for improved efficiency in pre-empting fraud activities and ultimate prevention of fraud.

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Recently it was reported that at least 6,047 Bank Verification Numbers of bank customers have been placed under the CBN watch-list for fraudulent transactions.

READ ALSO: How Three Ex-bank Workers Planned With Hackers To Steal N20bn – Witness

According to the Nigeria Interbank Settlement System, Nigeria has one of the most advanced electronic payment capabilities in the world. It said the increase in transaction processing speed and available channels had also created an avenue for fraudulent transactions to thrive.

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In its ‘NIBSS Insight: Fraud in the Nigeria Financial Services’ report, it said, “Statistically, even a one per cent successful fraud rate would result in 100,000 successful fraudulent transactions daily.

“This would directly impact customer’s faith in the entire system and could significantly impact our financial inclusion drive as well as the CBN cashless policy.”
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Return Of Chinese Astronauts Delayed After Space Debris Hits Spacecraft

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The return of three Chinese astronauts to Earth has been postponed indefinitely after their spacecraft was reportedly hit by a small piece of debris, according to Chinese state media.

The astronauts, who are part of the Shenzhou-20 mission, travelled to the Tiangong space station in April and were scheduled to return on Wednesday following a six-month stay. Their replacements, the Shenzhou-21 crew, had already arrived over the weekend.

“The Shenzhou-20 crewed spacecraft is suspected to have been struck by a small piece of orbital debris, and assessment of the impact and associated risks is currently under way,” the China Manned Space Agency (CMSA) said in a statement.

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READ ALSO:Man Grabs Mexico’s President While Meeting Citizens On The Street

“To ensure the health and safety of the astronauts and the successful completion of the mission, it has been decided that the originally planned return of Shenzhou-20 on November 5 will be postponed.”

Officials did not specify when the debris incident occurred. Earlier in the week, state media reported that both crews had shared a meal of baked chicken prepared using the station’s first oven, delivered by the Shenzhou-21 team. On Tuesday, videos showed the two teams holding a handover ceremony.

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Yu Jun, a science communicator known online as Steed’s Scarf, said that if the spacecraft is deemed unsafe to return, authorities could activate a backup plan.

READ ALSO:FULL TEXT: DSS Gives Update On Prosecution Of Owo Church Attackers, Other Terror Suspects

“Shenzhou-22 and the Long March 2F (launcher) were already on standby. This is our rolling backup mechanism. They are in ‘emergency duty’ mode and ready to bring our astronauts home safely if needed,” Yu told his more than five million followers on Weibo.

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China has continued to expand its human spaceflight program, completing 37 flights and six crewed missions so far, with plans to land astronauts on the moon by 2030.

The Shenzhou-20 commander, Chen Dong, holds China’s record for the longest cumulative space time more than 380 days and the highest number of spacewalks, with six.

Chinese astronauts have not joined the International Space Station, a partnership between the US, Russia, Europe, Canada, and Japan, due to a US law preventing NASA from cooperating with China’s space program. Instead, China has said it welcomes international cooperation on its Tiangong space station.

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(The Guardian Uk)

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Man Grabs Mexico’s President While Meeting Citizens On The Street

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Mexico’s President, Claudia Sheinbaum, while meeting citizens in Mexico City was grabbed by a man, prompting concern over presidential security and ongoing harassment faced by women in the country.

A video from Tuesday shows a man, appearing intoxicated, attempting to kiss the president on the neck and holding her from behind.

She quickly removed his hands and turned to face him before an official stepped in and blocked the man.

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As he was led away, Sheinbaum was seen smiling slightly and saying, “Don’t worry.” State police later confirmed the man’s arrest.

Commentators said the episode shows that no woman, not even Mexico’s President, is immune to harassment.

READ ALSO:Asian Stocks Rise As Trump Postpones Mexico, Canada Tariffs

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Even if you’re the president, any guy believes he has the right to touch you,” said Catalina Ruiz-Navarro, a journalist with feminist outlet Volcánicas. “When they ask what the patriarchy is, this is it.”

The incident also raised questions about Sheinbaum’s security. Her team was not clearly visible in the footage, and it took several seconds for anyone to react.

It comes days after Carlos Alberto Manzo Rodríguez, a popular mayor, was killed during Day of the Dead celebrations in Uruapan, Michoacán.

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He was shot seven times at close range before the gunman was killed. Before his death, Manzo Rodríguez had publicly appealed to Mexico’s President for help against local criminal groups.

READ ALSO:41 Killed In Mexico Bus Accident

He is the latest in a series of officials killed in Mexico. During the 2024 election campaign, 37 candidates were murdered, and since Sheinbaum’s government began on 1 October, 10 municipal presidents have also been killed.

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While local leaders are often targeted, high-level officials have also faced threats.

In 1994, presidential candidate Luis Donaldo Colosio Murrieta was assassinated at a rally in Tijuana. In 2020, the Jalisco cartel attempted to kill Omar García Harfuch, Sheinbaum’s current security minister, in a daylight attack in Mexico City.

READ ALSO:Trump Backs Off Mexico, Canada Tariffs After Market Blowback

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Sheinbaum herself faced a scare last year during her campaign in Chiapas, when masked men stopped her vehicle to demand action against violence before letting her go.

Like her predecessor, Andrés Manuel López Obrador, Mexico’s President has preferred to keep close contact with the public and maintain lighter security. But the latest incident may prompt her to reconsider.

“Hopefully [the presidency will press charges], and the president will send a clear message: no man has the right to kiss or touch a woman without her consent,” wrote Alejandra Escobar, editorial director of Ectétera, on X. “May this also serve as an example for [her assistants]: it is not acceptable for her to be so exposed.”

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(The Guardian UK)

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Sweden To Charge 18-year-old Over IS Terror Plot

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The Swedish Prosecution Authority said Tuesday it intended to charge an 18-year-old man for planning a terrorist act in Stockholm on behalf of the Islamic State group.

According to prosecutors, the planning took place between August 2024 and February 2025.

“We believe the purpose of the preparations was to induce serious fear in the population, in the name of the Islamic State. The criminal act could have seriously harmed Sweden,” Deputy Chief Prosecutor Henrik Olin said in a statement.

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READ ALSO:Tragedy As Erosion Sweeps Away Motorcyclist In Edo

Prosecutors did not provide details of the plan but said the man was also suspected of “preparation for serious crimes under the act on flammable and explosive goods and training for terrorism”.

Prosecutors said they planned to file the charges on Thursday and that a press conference would be held the same day.

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The young man will also be charged alongside a 17-year-old boy with attempted murder in Germany in August 2024.

READ ALSO:China Backs Nigeria, Warns Against Foreign Interference

Both of them are also suspected of “participation in a terrorist organisation,” according to the statement.

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The man was arrested in Stockholm on February 11 and has been in custody since then.

AFP

 

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