Customers of Nigerian banks lost over N1bn ($2.7m) to fraud via bank branches and mobile channels in Q2 2022, according to a report by the Financial Institutions Training Centre (FITC). FITC recorded 67,878 fraud cases during the period, with a decline in the amount of fraud compared to Q1 2022. The amount lost via the web channel declined significantly, while the amount lost through the bank branch and mobile channels increased by 497.56% and 65.74%, respectively. FITC advised banks to improve their internal control measures to prevent fraud.