UBA, others canvass collaborations to fight financial crimes

Stakeholders and industry regulators were invited to United Bank for Africa Plc's Fraud Awareness Week, an event designed to arm consumers with information and resources to guard against financial malpractices and fraud in the banking and financial industry.

Key players from the financial industry participated in large numbers during the week-long event, which ran from Monday, October 16, 2023, to Friday, October 20, 2023. They voiced worries about the growing number of fraud cases and how this important issue can be addressed.

The Head of Cybercrime Investigation, Advance Free Fraud Economic & Financial Crime Commission Lagos State Command, Abbah Sambo Usman; Managing Partner; Akin Adesomoju & Co., Akin Adesomoju; Chief Risk & Compliance Officer were the guest speakers at the bank's Stakeholders' Round-Table panel session on Thursday as part of its awareness campaigns.

The others were Peter Ehizogie, Assistant Commissioner of Police, Head of the Legal Department, Police Special Fraud Unit, AG, Head of the Corporate Services Directorate, Nigerian Inter-Bank Settlement System, Temidayo Adekanye, Manager, Cyber and Intelligence Mastercard Customer Solutions Center, West Africa, and Barrister E.A. Jackson, Head of the Legal Department.

The panelists unanimously agreed that in order to detect gaps in the fight against fraud and stop incidents, all parties involved—including banks, other financial institutions, and agencies—must work together to provide information, data, and intelligence.

The distinguished ladies and gentlemen in attendance were warmly welcomed by Group Managing Director/Chief Executive Officer Oliver Alawuba, who was represented by the Group Internal Auditor, Gboyega Sodiq, earlier in the event. He stressed that the Stakeholders' Round-Table session is of utmost importance and that UBA's commitment to thwarting fraud and preserving the integrity of the country's financial systems revolves around it.