N1.4B Internet Banking Fraud Rocks U.B.A

Financial Institution, United Bank For Africa - U.B.A- is currently enmeshed in an in house fraud rocking the bank.

There are allegations that about N1.4B customers funds are missing.

Informants claim the missing money the result of illegal deductions made over time from customers accounts.

The deductions are tagged 'by very small margin'

Sources confirmed the scam 'a long term' ploy.

The perpetrators are alleged to have utilise the internet banking facility of the bank to achieve their aim.

Workers in the Information Technology

department ( I.T) of the bank are being fingered as behind the practice.

On going investigations are yet to officially accuse a person or persons.

The bank's management is said to have become concerned with the growing volume of money at stake- and fear of the repercussion the discovery of the 'seeming' small deductions will have when customers start noticing them.

Informants divulged that the management of the bank are striving to keep the matter as quiet as possible.

Bank's corporate affairs staff N1.4B Internet Banking Fraud Rocks U.B.A!

Financial Institution, United Bank For Africa - U.B.A- is currently enmeshed in an in house fraud rocking the bank.

There are allegations that about N1.4B customers funds are missing.

Informants claim the missing money the result of illegal deductions made over time from customers accounts.

The deductions are tagged ' by very small margin'

Sources confirmed the scam ' a long term' ploy.

The perpetrators are alleged to have utilise the internet banking facility of the bank to achieve their aim.

Workers in the Information Technology department ( I.T) of the bank are being fingered as behind the practice.

On going investigations are yet to officially accuse a person or persons.

The bank's management is said to have become concerned with the growing volume of money at stake- and fear of the repercussion the discovery of the 'seeming' small deductions will have when customers start noticing them.

Informants divulged that the management of the bank are striving to keep the matter as quiet as possible.

Bank's corporate affairs staff Abdul Imoyo and Ebi did not respond to text message on the issue.

Society Now