Card and ATM fraud: trends, prevention and legislation
Innovation Forum
17 November 2009

In response to the growing incidence of Card (credit & debit) & ATM Fraud in Nigeria, EFInA hosted its third innovation forum titled: ‘Card & ATM Fraud: Trends, Prevention and Legislation’. Modupe Ladipo, Chief Executive Officer, EFInA stated given the uptake and usage of debit cards and ATMs is essential for promoting financial inclusion, that is critical to educate customers and reduce the frequency of card fraud.

The keynote speakers at the forum were representatives from The United Kingdom’s Dedicated Cheque and Plastic Crime Unit (DCPCU), Detective Inspector, Denise Bains and Detective Constable, Keith Harrington. The DCPCU is a joint police and bank investigation unit, funded by the banks to investigate and prosecute organised credit card crime. The DCPCU is regarded as the leader on ATM and other credit card crime. D.I. Bains and D.C. Harrington gave an overview of the landscape of global fraud, and the UK’s collaborative approach amongst law enforcement and financial services providers to tackle the problem.

Participants at the forum were thought leaders in the Nigerian financial sector from deposit money banks, switches, law enforcement agencies and regulatory bodies who shared their perspectives on the occurrence and management of card and ATM fraud in Nigeria.  

Ms. Ladipo stated that EFInA will continue to facilitate roundtable discussions with key stakeholders to establish a multi-institutional collaborative approach to tackle the problem of card and ATM fraud in Nigeria.