Bank Fraud Cases Are Up 15.7% In 2015; We Have The Breakdown

A total of 12,279 fraud cases were reported in 2015, representing an increase of 15.71% over the 10,612 fraud cases reported in 2014, according to the NDIC 2015 annual report released today.

• The amount involved was N18.021 billion the NDIC said.
• The actual loss sustained in respect of internet banking fraud was N857 million, representing 27% of total actual loss of the industry.
• 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%.
• However, the loss suffered by the industry due to such frauds declined significantly by 59.4% from previous year figure of ₦1.242 billion to ₦0.504 billion, representing 15.9% of total industry loss to frauds and forgeries.
• Out of the 12,279 fraud cases reported by the DMBs, 425 cases were attributed to staff.
• The number of fraud cases perpetrated by staff had decreased from 465 in 2014 to 425 in 2015. Similarly, losses arising there from substantially decreased by 70% from N3.165 billion in 2014 to ₦0.979 billion in 2015.
• The highest percentage of frauds and forgeries cases of 38.59% was perpetrated by temporary staff.