2015-01-29 | BPS/DIR/GEN/CIR/06/002

Circular on Nigerian Issued Card Present Fraud in Non-Enviroments (Signed copy)

The Bank of Nigeria has issued a circular to all deposit money banks regarding an increase in card-present fraud in non-EMV environments, particularly with international hybrid cards issued by Nigerian banks in countries like the USA. To combat this, the bank has directed banks to collate and report all card frauds, implement anti-fraud solutions, ensure customer education, and carry out regular awareness campaigns. Non-compliance will result in liability for refunds on card fraud abroad.

Nigeria

Central Bank of Nigeria

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