A professor of Business Management at the Ladoke Akintola University of Technology and immediate past Head of Department of Management and Accounting, Abiola Idowu, has suggested ways of reducing the upsurge in E-banking fraud in Nigeria. The inaugural lecturer called for urgent provision of automated analysis tools that could identify and report fraud attempts in a timely manner. She also called for deployment of deep learning by managements of banks. The regulatory institutions and banks should organise workshops, seminars and public lectures for bank customers on how to escape various e-banking frauds. The banking industry should review the existing Bank Verification Number (BVN) framework with the introduction of BVN watch list.”

Source: The Guardian April 19, 2022 10:19 UTC