2015-01-20 | BPS/DIR/GEN/CIR/06/002

Circular on Nigerian Issued Card Present Fraud in Non-EMV Environments

The circular addresses the rise in card-present fraud in non-EMV environments, particularly with Nigerian-issued cards in the USA. Nigerian banks are directed to collate and report all card fraud cases abroad, implement anti-fraud solutions, and ensure customers are educated about card safety. Banks will be liable for refunds on card fraud cases abroad if they do not fully comply with the directives.

Nigeria

Central Bank of Nigeria

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