The Central Bank of
The Anti-Scheming device is to help protect banks' customer against fraud from fraudsters that uses various means.
The CBN's Director,
There is technology issue ,but it is not an excuse for them not to comply, but a challenge which we hope would be overcome. Remember, they have to be physically present to install these devices in their ATMs and you know that some of the banks have a lot of the ATMs which they do in phases.
So we hope that the few banks, which I think is about two or more that have not fully complied but have shown commitment would comply soonest. In his remark on electronic fraud, he said
"We have to admit the fact that fraudsters are always deploying new strategies and this is why this forum would continue to meet, collaborate, cooperate and discuss.
That does not mean there won't be an end to it. The truth is that it is reducing and it will continue to reduce, but for it to reduce further we need to think ahead of the fraudsters and this why the stakeholders will continue to discuss."
On NIBSS Instant Payment, he said " The platform as good as it is, some people are using it for unintended consequences.
We also notice that each bank has put in place standard that are applicable within their banks so the management of Central Bank of
You will notice that the circular has four levels, the Highly secured, Moderately secured, Basic Security and Low security.
The circular is a policy document issued by the CBN, specifying that by December this year all banks in
Most Popular Stories
- Rackspace Ends Talks About Possible Acquisition
- Mercedes Rolls Out S550 Plug-in Hybrid
- Plus-Size iPhones Live Up to The Hype
- FedEx Adding 50,000 Holiday Jobs
- Toxic Algae Threatens Florida Fishing, Tourism
- Cool Features on Today's New iOS 8
- Missouri GM Plant Adding 750 jobs
- Family Dollar Spurning Bid From Dollar General
- Kohl's Hiring 67,000 for the Holidays
- Poverty Rate Drops for First Time Since 2006