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The Central Bank of Nigeria (CBN) Bankers Committee has launched Confamam.ng, a new website to help tame online fraud by educating people on the danger signals for scam transactions.

The new site is fostered around its awareness and public education on cyber-security campaign: “Confam Am.” It allows visitors to share their scam stories, their personal experience in a community-based approach to create awareness on fraud and quickly identify the red flags.

RELATED: Nigeria’s e-payment rise by 66% to N330tr in 2021, says CBN

At Confamam.ng, Nigerians can get information on issues include con-artists antics around the biometric verification number (BVN), agency banking, scams around point-of-sale (POS) machines, ATM transactions, and the undiscerning disclosure of the personal identification number (PIN), among others.

There has been an alarming growth in online fraud that authorities consider as threatening to the overall health of the banking industry. While amount lost to fraud is still small compared to the global average, but it signals a worrying trend of customers exposure or vulnerability to increasing cyber-security risks that could undermine bank’s ability to unload digital products or services into the market.

According to the CBN’s Director, Consumer Protection Department, Mr Sunday Salam-Alada, surge in banking or online fraud has been marked by the rise in the volume and value of e-transactions nationally and globally,

A 2021 report by the Nigeria Inter-Bank Settlement System Plc (NIBSS): ‘Fraud in the Nigerian Financial Services’, showed that fraud attempts through mobile channels rose by over 330%, web channel recorded over 173% while and PoS was 215%.

The “Confam Am” website with campaign is targeting to alert Nigerians to the dangers of approving any online, PoS or mobile-enabled transaction without first ‘confirming’ or authenticating the transaction.

Mr. Confam,” a ‘meme’ character is onsite to help kep you informed on the latest shades of fraud and alert you to impeding dangers lest you fall victim to fraudsters.

 

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