66% of fraud in 2023 was committed using social engineering

In 2023, 66% of fraud cases were committed using social engineering, the most common technique. Mobile channels accounted for 50% of fraud, followed by web channels (23%) and POS channels (18%).

Technique: How the fraud is committed.
Channel: Where the fraud is committed.

Techniques refer to the methods fraudsters use to deceive victims, and Channels refer to the platforms through which the fraud is carried it.

Source:
Nigeria Inter-Bank Settlement System
Period:
2023
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