Fraud in the banking system

[Kamon c4]

Wow this is something iam hearing for the first time.
I was thinking that the fraud is only in Nigeria.
The fraud in the banking system is really bad here in Nigeria.
The government should be able to control the fraud in the system.

This is the job of bothe the government and the central bank of Nigeria. The policies they put in place determines how to curb fraud. Technology is a good development but it should be progressive. It’ll be easy to detect where there’s loophole in security and increase securities

 

[SAFEMOON]

One of biggest fraud that still circulating on the web due to poor security of banks even on the online shop that compromise the sensitive information of their user. Which also one of the reason why perpetrator gather or hijacking information to the user of that certain online shops.

 

[Godleads1]

Yes it has. One would expect that with the level if technology involved, that such things won't be possible or happening. But what do we witness, the bank isn't even as save as one would have anticipated
[automerge]1611400722[/automerge]
Yes it has. One would expect that with the level if technology involved, that such things won't be possible or happening. But what do we witness, the bank isn't even as save as one would have anticipated

 

[Sammyesx]

The technology in the banking system is to enable easy banking, you don't necessarily need to go to a bank to save or receive money. In term of fraud no one can have assess to the money in your account without your registered SIM to the account, so keep your phone save from Fraudsters

 

[Hdre3m3n]

Fraud in the banking system can not be overemphasized, fraudulent acts are rampant in the banking system due to the level of technology. Although technology is more advantageous, it has also contributed to easy bank fraud.

 

[Dorcey]

Nigerian banks are the best in this. They deduct money unnecessarily even without explanation. and if you complain in the banks, you may not get satisfactory answers till you fed up.

 

[Chizfab]

It is no longer news, it is everywhere. Not just the banks alone, many government companies collaborate with the banks to steal billions of money from unsuspecting masses. So yes, banks are into fraudulent activities, even beyond our imaginations.

 

[Hammad1245]

It’s been known that scammers are able perpetrate banking securities and commit fraudulent acts. With the high involvement of technology in the new day banking systems, do you think it has contributed negatively than positively?

There is an advantage on using technology for enhancing the security of the banks. It is true that there are a lot of frauds and scam out there trying to hack the system in banks but the amount of firewalls and protections that the bank uses is layer by layer. It would be hard to crack it unless there would be an inside job.

You are are right to much extent. But with the online transactions have increased the risk. It is now easier to steal money from credit cards. Stealers ask innocent people to send card cord for verification. When the do so Stealers steal their money.

 

[chicnthin]

You are are right to much extent. But with the online transactions have increased the risk. It is now easier to steal money from credit cards. Stealers ask innocent people to send card cord for verification. When the do so Stealers steal their money.

That's why I'm anxious everytime I'm doing online transactions. As much as possible I try to do everything offline. I'm only using my e wallets instead of my bank accounts when it comes to paying my purchases, but even there are a lot of scams.

 

[Nicklas22]

Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution

 

[Sarfraz Ali123]

Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. In many instances, bank fraud is a criminal offence.Advanced banking technology helps us access our money at the click of a button. However, it is important to ensure such facilities are used wisely, so that we do not fall victim to fraud or misuse of our money. Here are some checks that one can put in place to prevent frauds.

 

[Ehtisham memon]

I think every system some people fruad are available in banking company and industry schooling and as well as government also fraud is possible in the banking system but should know about the things which are buy and sells with the bank and transaction and transfer money knowing about the bank system is good for the people that you should invest and get money

 

[Abbas ali]

Truth is with the level of investment that banks and other financial institutions puts into their IT security it's almost impossible for fraudsters to penetrate their firewalls without insiders help either consciously or unconsciously. Although there have been cases of top hackers bypassing these firewalls without any help, but that's usually rare. The fraud issue has contributed negatively to bank balance sheet as they keep refunding customers lost fund in order not to lose customers patronage. Now I have not any bank account.

 

[Kamon c4]

Truth is with the level of investment that banks and other financial institutions puts into their IT security it's almost impossible for fraudsters to penetrate their firewalls without insiders help either consciously or unconsciously. Although there have been cases of top hackers bypassing these firewalls without any help, but that's usually rare. The fraud issue has contributed negatively to bank balance sheet as they keep refunding customers lost fund in order not to lose customers patronage. Now I have not any bank account.

its true financial institutions have very good firewalls but scammers are able to perpetrate their fraudulent acts by deceiving bank users into revealing their personal informations. This is rampant in countries where there’s high development in the technology systems

 

[Robrown83]

This days there are so many fraudulent activities going on in the banking system. Most of the bank staffs have connection to fraudster to carry out their fraudulent activity. They usually send all your information to them so as to perfect their plan.

 

[Kamon c4]

This days there are so many fraudulent activities going on in the banking system. Most of the bank staffs have connection to fraudster to carry out their fraudulent activity. They usually send all your information to them so as to perfect their plan.

To some extent I agree with you. However, fraudulent acts aren’t committed by insiders alone. There’re large numbers of bank users who doesn’t have proper knowledge about the do’s and don’ts. I beleive banks can help by educating their users well about the dangers of releasing personal informations to anyone

 

[GIFTMICHAEL]

This is the job of bothe the government and the central bank of Nigeria. The policies they put in place determines how to curb fraud. Technology is a good development but it should be progressive. It’ll be easy to detect where there’s loophole in security and increase securities

Exactly, the banking system needs total security to curb fraud activities.
I will not deny the effort the industry is making so far but there has to be improvement in terms of checkmating the level of fraud in the system.

 

[Quert]

The new system of online banking I believe was to make things easier and faster in banking, it's just that it is not fully guaranteed to be safe from hackers. I know that hackers always find ways to penetrate from the the system.

 

[Shoaib5600]

There are many different types of bank fraud. Some of the most common types of fraud tend to be check fraud, debit and credit card fraud, safe deposit box fraud, but there are many additional types of bank fraud both within and beyond these basic categories.

 

[lelakil3]

This aspect is not been spoken about enough. The workers in the banking industry have succeeded in defrauding their customers of their money. They do it in a way that you don't get to complain. They deduct a token of say 2 naira here in Nigeria and if that's calculated for a large number of customers, that's quite a fortune

That's a hidden agenda workers in the company of the banking industry they in-charge of the information on the client bank it should must be secure not accessible to many workers in the bank there should at least officer who manage and permissible to it.