N250bn yearly fraud exposes gaps in banks’ security, regulatory oversight

• Phone, SIM breaches fingered By Chinenye Anuforo and Chinwendu Obienyi What was once a street-level crime of petty phone theft has evolved into a high-stakes assault on the financial sector, with victims discovering their savings wiped out or debts piled up within hours of losing their telecommunication devices (mainly phones and tablets). According to

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