The Institute of Forensic and Investigative Auditors of Nigeria (CIFIAN), has raised the alert over N25 billion (about $81.967) cyber fraud recorded in the Nigerian financial institutions in the last five years
The Pro-tem President of CIFIAN, Dr. Victoria Enape, who disclosed at the induction ceremony of about 120 members in Abuja, expressed concern over the increased volume of financial frauds in the country.
Local media reports on Monday said that Enape stated that CIFIAN was worried about the development, which is inimical to the development of any country, warning that: “If nothing is done about it now, the future generation will have nothing to fall back on.”
“We are commissioning all members to go and be good ambassadors of CIFIAN in their various organisations to ensure that jointly we prevent fraud, corruption and cyber-crimes in Nigeria and stop further loss of billions of naira as being recorded in the last five years.
“As you are aware, the recorded fraud volume in Nigeria financial institution due to cyber increased dramatically to about N25 billion in the past five years,” she said.
GIK/APA