Fraud | Oluniyi D. Ajao

Banks that disabled InterSwitch Cards for Internet Use

Friday, August 15, 2008

One of the core functions of an InterSwitch ATM/Debit card is using it to pay for goods and services via the Internet. However, fraud has always been a big problem since all that is needed to use this card on the Internet is the 19-digit card number and PIN code. I am not sure InterSwitch [...]

Interswitch Nigeria & member banks move against ATM fraudsters

Wednesday, July 2, 2008

15 Comments

Long after several people have been defrauded of their money through social engineering scams, Interswitch Nigeria the leading issuer of local ATM/Debit cards appears to be acting now. According to a recent report by Daily Trust: Interswitch Nigeria Limited in collaboration with banks last week inaugurated an awareness campaign to protect ATM card holders against fraudsters [...]

How to reduce Internet Banking Fraud

Thursday, December 13, 2007

3 Comments

Two days ago, I did a blog post titled “Woes of a Nigerian Internet Banking Customer” with a promise to do a follow-up post, offering suggestions. Well, this is it. First, it is defeatist for a bank to cancel online funds transfer when it is possible to minimize the effect of fraud. I would start with [...]

Buying and selling online gets better

Thursday, April 5, 2007

2 Comments

The World Wide Web can be mischievously called the Wild Wild Web. And why not? The risks associated with surfing the WWW are innumerable. Virus, trojan horses, spy ware, spam, hacking, fraud, name them. One that seems to stick with South Africa is online fraud. Hacking into user’s bank accounts is widespread and so one would [...]