United Bank for Africa (UBA) Plc hosted stakeholders and industry regulators to empower customers with the knowledge and tools to protect them (customers) against fraud and financial malpractices in the banking and financial sector.
During the event tagged ‘Fraud Awareness Week’ participants from across the financial sector expressed concerns about the rising cases of fraud and how this crucial issue can be combated.
The bank said in a statement issued yesterday that the event was held from October 16-20, 2023
As part of the campaign, the statement said the bank held a roundtable featuring the head, cybercrime investigation, advance fee fraud at the Economic and Financial Crimes Commission (EFCC) Lagos State Command, Mr Abbah Usman; managing partner; Akin Adesomoju and Co, Mr Akin Adesomoju, acting head, corporate services directorate, Nigerian Inter-Bank Settlement System (NIBSS), Mr. Temidayo Adekanye, manager, cyber and intelligence, Mastercard Customer Solutions Centre, West Africa, Mr Peter Ehizogie and assistant commissioner of police and head, legal department, Police Special Fraud Unit, Barrister E.A Jackson.
The panelists unanimously agreed on the need for collaborative efforts of all players including all banks, other financial institutions and agencies to help provide the information, data and intelligence that will enable the detection of gaps in the fight against fraud to prevent future occurrences.
Earlier in his remarks, the MD/CEO of UBA, Mr Oliver Alawuba had emphasised the critical significance of the stakeholders’ round-table, saying “it forms a central component of UBA’s commitment to combating fraud and safeguarding the integrity of the nation’s financial systems.
Alawuba who was represented by the group’s internal auditor, Mr Gboyega Sodiq said: “In a rapidly evolving world of finance where technology and innovation are transforming the landscape of financial services, the need for robust fraud prevention measures is more crucial than ever before.
“This year’s campaign is encapsulated in two simple yet powerful slogans: “UBA won’t ask; so don’t share,” and “Stay Secure, Stay Alert, Stop the Fraud.”
“These slogans serve as a reminder that as a bank, we will never request sensitive information such as PINs, passwords, OTPs/token responses, or personal details via email, phone calls, or any other digital channels.
“They stress the fundamental rule that must be adhered to rigorously to maintain account security and combat fraud actively.”
UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 35 million customers globally.
Operating in 20 African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, the bank provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
