Ban online banking, rights groups charge FG

Ban online banking, rights groups charge FG

The Federal Government should ban online banking outfits because their operations are prone to financial crimes, concerned groups alleged on Friday.

The Human Rights, Liberty Access and Peace Defenders’ Foundation and Campaign for Democracy jointly made the request in a statement made available to newsmen in Enugu.

The groups accused online banking outfits of aiding and abetting financial crimes in the country. According to them, online bankers ‘do not fully comply with the operational guidelines establishing them’.

The statement was signed by the Executive Director, HURIDE and Chairman of CD in the South East, Dede Uzor A Uzor.

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The internet bankers shortchange their customers by failing to send money to the recipients at the other end and they would not return it to the sender when it does not go, among other infractions, the groups alleged.

“It takes weeks before they could refund such money and in some cases, they don’t refund them because some frustrated customers don’t have the patience to go the whole hog in recovering their money, the groups said.

They added, “The nature of online banking gives room for fraud, especially in our environment where people are still predominantly illiterates particularly in area of Information Communication Technology (ICT).

“Online banking is a licence for some privileged few who are granted licences to commit fraud. Online bankers are prone to abuse.

“FG should do away with online banking. It does not add any value to our economy. The earlier FG does it, the better.”

Ban online banking, rights groups charge FG