A Bill for an Act to Amend the Banking and Other Financial Institution Act (Bofia) 2020 to Make Provision for the Protection of Victims of Fraudulent Withdrawal from Accounts and for Related Matters
National Assembly (2024)
Working Paper
This Bill seeks to amend the Banking and Other Financial Institutions Act (BOFIA) 2020 among others to make copious provisions for the protection of victims of fraudulent withdrawals from bank accounts as a proactive approach to fraud detection and prevention is imperative to ensure customer trust, employee compliance, and overall improvement in operational efficiency.