Late fraud reporting fueling low stolen funds recovery - PalmPay

Late fraud reporting fueling low stolen funds recovery – PalmPay

Inside story of electronic bank fraud in Nigeria

More than six high-profile electronic bank fraud cases took place in Nigeria between February and July this year.

Many people who fall victim to cyber scams and end up losing their money or their valuables, do not report the fraud on the first day it happened, according to a new report by PalmPay, a Nigerian-based fintech company. “From our observations, customers do not take prompt action. Only 33 percent

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