By John Ikani
Africa-focused payments company, Flutterwave, has denied reports claiming that it was hacked and that the sum of N2.9 billion was lost to fraudsters.
The fintech firm issued a statement on Sunday, stressing that none of its users lost any funds as reported, and its payment system was not hacked.
The denial became necessary after reports said hackers made away with ₦2.9 billion from the company’s accounts and that the funds were illegally transferred into several accounts with different Deposit Money Banks in Nigeria.
While assuring customers that it “collaborates with financial institutions and law enforcement agencies to ensure the safety and security of its ecosystem, Flutterwave explained that as a financial institution, it monitors transactions and reviews any suspicious activities through its transaction monitoring systems and 24-hour fraud desk.”
The company stated that its commitment to keeping its users’ financial information’ safe and secure is why it “invests heavily in security initiatives such; as periodic audits, certifications, and licenses like, the PCI-DSS & ISO 27001, in line with global best practices in information security management.”
Flutterwave urged its customers to continue to trust its operations and feel secure in using its services for their business needs.
Founded in 2016, it specializes in individual and consumer transfers.
The fintech firm is headquartered in San Francisco.
