Fraud in fintech? Group’s got plans to tackle it!

The Fintech Association of Nigeria (FintechNGR) has announced plans to tackle fraud in the fintech space by developing a comprehensive framework for fraud reporting and risk mitigation. The association aims to address the issue of fraudulent activities while also respecting privacy and regulatory concerns. The framework will be released along with technical standards in January 2024. The chairman of the CEO’s Committee, Uzoma Dozie, emphasized the importance of addressing these challenges to protect the entire digital ecosystem. The initiative has received strong support from financial institutions, fintech companies, and other stakeholders.