Wema Bank has launched an anti-fraud campaign to protect its customers and other Nigerians against fraudulent activities by some wallet accounts and fintech partners.
With the launch of the anti-fraud campaign, the bank has successfully investigated, identified, and disengaged three fintech partners for fraud and suspended four from its platform to ensure responsible partnership, adherence to regulatory procedures and conform to the Central Bank of Nigeria (CBN) KYC guidelines.
“There are ongoing audits and reviews of fintech partners processes as part of the grand plan to ensure that we get the anticipated/desired results,” the lender said in a statement.
According to the bank, the anti-fraud campaign is to create awareness, educate and equip customers with the necessary information needed to mitigate, detect and handle fraudulent activities on their accounts; a show of the bank’s commitment to safeguarding customers’ finances and personal data.
Speaking further, Oluwole Esomojumi, Wema Bank’s chief audit executive, said the anti-fraud campaign was designed to protect customers from fraudulent activities and provide them with the necessary information for detect the evolving tactics of fraudsters and also solidify the bank’s stance against fraud.
“The antics of fraudsters are constantly evolving. To stay steps ahead, it is imperative that consumers have a good understanding of what interaction or engagement are telltale signs of fraud and how they can handle suspicious fraudulent engagements, hence the launch of the Wema Bank Anti-Fraud Campaign. We are steps ahead on our end which is why we have taken time to investigate our fintech partners and those found culpable have been disengaged from our payment gateway platform,” Esomojumi said.
