The Central Bank of Nigeria (CBN) has issued a stern warning about an alarming surge in fraudulent activities involving foreign currency transfer claims. The apex bank cautioned Nigerians to remain vigilant as fraudsters increasingly use falsified SWIFT documents to substantiate bogus transfer allegations.
In a public advisory released today, the CBN disclosed that these fraudulent schemes are designed to deceive unsuspecting individuals and institutions into believing that legitimate transfers have been made. The scammers typically forge SWIFT messages used internationally to authenticate financial transactions to manipulate their targets.
The CBN emphasized that such fake documents are not only misleading but also undermine the integrity of financial systems and can lead to significant monetary losses. Nigerians are advised to verify any claims of foreign currency transfers directly with their financial institutions and report any suspicious activities immediately.
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This warning comes amid heightened efforts by the CBN to curb financial fraud and protect consumers in an increasingly digitalized financial landscape. The bank reiterated its commitment to ensuring the safety and transparency of Nigeria’s banking system while urging the public to exercise caution and report suspected scams.
This development underscores the growing need for vigilance in handling international financial transactions, particularly as scammers devise new ways to exploit vulnerabilities in the system.
