Press Release | 4 January 2013 11:36 CET

GT Bank Re-Affirms Commitment To Secure Banking

Segun Agbaje, GT Bank MD

Segun Agbaje, GT Bank MD

One of the biggest commercial banks in Nigeria, Guaranty Trust Bank (GTB) plc, has re-affirmed its commitment to the safety of stakeholder funds as it prepares for the 2013 financial year. Investigations show the Bank has installed several new technologies and introduced a number of internal procedures that enable it identify spurious transactions and prevent frauds on customer accounts.

Speaking on the development, Managing Director/CEO of GTB, Mr. Segun Agbaje said the bank was committed to ensuring its customers are shielded from the escalating incidence of online and other forms of fraud being experienced within the industry.

Mr. Agbaje said "we have introduced several new processes internally, which I cannot disclose that make it more difficult for fraudsters to have access to our customer accounts. Additionally, we have a mutually beneficial relationship with law enforcement agencies, such as the Nigerian Police Force that enable us identify potential fraudsters and apprehend them before they act."

He concluded by saying the constant review of the bank's security infrastructure and processes were pivotal to its recent success in discovering frauds and foiling attempts, that could have translated to huge losses for the bank.

These include a recent attempt by some unscrupulous individuals to defraud a customer of a large amount of money. The situation has been contained and the individuals concerned are presently aiding the police with their investigations.

Sources from the bank confirmed the matter is being dealt with and the Bank is leaving no stone unturned in dealing with development.

GTB has always been committed to the safety of stakeholders' funds. A few years ago it installed a whistle blower platform to help mitigate against instances of fraud whilst resolving customer service related issues.

The channel enables customers, staff and other stakeholders of the bank report unethical or unprofessional conduct by its employees without revealing the complainant's identity.

The GTBank Whistle Blower is a very secure platform that is hosted on the bank's website for easy access.

More recently, the bank deployed a security software on its Internet Banking platform called Trusteer Rapport. The software protects customer accounts from fraudsters by securing online communications with the bank's website/internet banking portal.

GTB plc has a Payment Card Industry Data Security Standard (PCIDSS) certification attesting to the safety of its card and online channels and the Standards Organisation of Nigeria (SON)'s International Standards Organisation (ISO) 9001:2000 certification in recognition of quality management systems and conformity with global best practice

Authorities at the bank have stated that it remains ardently committed to proper practices and preventive mechanisms that safeguard the accounts, lives and properties of its stakeholders.

The bank intends to continue strengthening its security processes at all touchpoints, whilst promoting its value system, which is hinged on international best practice, professionalism, ethics, integrity and superior customer service.

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