Flutterwave to Recover $24 Million Lost to Unauthorised POS Transactions
Release Date:
African fintech giant Flutterwave is seeking to retrieve $24 million illegally transferred in October 2023 through a combination of a technical glitch and potentially fraudulent activity by POS merchants. The fintech company will reach out to over 6,000 account holders across 35 banks and financial institutions involved in unauthorised transactions. A recent High Court ruling will allow Flutterwave to contact account holders via email, SMS, and WhatsApp messages, with assistance from a recovery agency to recover the funds, according to court documents
Flutterwave to Recover $24 Million Lost to Unauthorised POS Transactions