Wema Bank, renowned for its innovative banking solutions and as the pioneer of Africa’s first fully digital bank, ALAT, has reinforced its commitment to combating fraud by hosting a seminar to mark International Fraud Awareness Week 2024. The event, held at the bank’s headquarters in Lagos on November 20, 2024, focused on the global theme, “Share A Story, Stop A Scam,” which highlights the power of awareness and education in preventing fraudulent activities.
International Fraud Awareness Week, celebrated globally in the third week of November, is dedicated to raising awareness about the growing threats of fraud to individuals, businesses, and societies. This year’s theme emphasized the importance of sharing real-life experiences to encourage proactive measures against scams.
As a strong advocate for fraud prevention, Wema Bank has consistently taken significant steps to protect its customers by educating them on fraud identification and mitigation. Over the years, the bank has built a reputation for its robust Anti-Fraud Campaign, which not only raises awareness but also enforces firm actions against perpetrators. Earlier this year, Wema Bank disconnected seven FinTechs from its network after they were found guilty of fraudulent activities, demonstrating its zero-tolerance stance on financial crimes.
The seminar brought together notable experts in fraud prevention and cybersecurity, including Mr. Oguzi Moses A., Assistant Commander of the Economic and Financial Crimes Commission (EFCC); Rypson Ugwuzor, Manager of Cybersecurity and Intelligent Automation at KPMG; Akin Adesomoju (SAN), founder of Akin Adesomoju & Co.; Mr. Femi Akinola, Assistant Commissioner of Police at the Special Fraud Unit of the Nigerian Police Force; and Dr. Obadare Peter Adewale, Founder and Chief Visionary Officer of Digital Encode Limited. These speakers shared insights into emerging fraud trends, cybersecurity strategies, and the importance of collaboration between financial institutions and law enforcement in tackling fraud.
During the seminar, Wema Bank’s Head of Risk Management and Compliance reiterated the institution’s dedication to customer safety, emphasizing the importance of equipping customers and stakeholders with the tools and knowledge to protect their financial interests. The event was also a platform for sharing actionable strategies to combat scams and improve awareness about evolving fraud tactics.
Attendees praised Wema Bank’s leadership in fraud prevention, recognizing the institution as a model in the financial industry for customer empowerment and safety. Participants were encouraged to report suspicious activities and remain vigilant, leveraging Wema Bank’s social media platforms on Instagram, Facebook, LinkedIn, and X (@wemabank) for regular updates and tips on fraud prevention.
Through initiatives like this seminar, Wema Bank continues to demonstrate its unwavering commitment to fostering a safe and secure financial ecosystem. The bank’s efforts exemplify its dedication to transparency, accountability, and resilience in protecting the interests of its customers and stakeholders.