The Nigerian Inter-Bank Settlement System (NIBSS), on Thursday said the banking industry lost the sum of N12.30 billion to various frauds between 2014 and 2017.
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Bank Fraud
Bank files $3bn lawsuit against PwC for failing to warn against huge fraud
Ukraine’s largest lender PrivatBank said Monday it had filed a $3bn lawsuit against PwC, claiming the auditor failed to call attention to “the huge fraud” plaguing the bank for years. PrivatBank was nationalised in 2016 after authorities blamed billionaire Igor Kolomoyskiy and other bank owners for issuing bad loans to cronies and having insufficient capital […] …
NDIC decries ‘high incidence of fraud’ involving bank staff
Nigeria Deposit Insurance Corporation says the number of fraud cases attributed to internal abuse by staff of banks increased from 231 in 2016 to 320 in 2017. Head, Communications and Public Affairs of NDIC, Mr. Mohammed Ibrahim, said in a statement in Abuja on Sunday that the figure was in the organisation’s recent report on off-site […] …