Adhere Launches AI Compliance Report on Fraud Risks

Adhere, an AI-powered compliance and fraud prevention platform, launched a report titled “The Compliance Reckoning: Regulating Financial Services in the Age of AI” at the Adhere Compliance Frontline Forum 2026 in Lagos on Friday. The report indicates that digital payment fraud losses in Nigeria decreased from ₦52.26 billion in 2024 to ₦25.85 billion in 2025, but highlights a troubling trend of a 350% increase in fraud losses since 2020, despite a 31% decline in reported cases.

It places Nigeria's situation within a global context, estimating worldwide fraud losses at $442 billion in 2025, with AI-enhanced fraud being 4.5 times more profitable than traditional methods. The report also notes Nigeria's low ranking in fraud protection and a significant cybersecurity workforce gap.

Regulatory pressures are increasing, with the Central Bank of Nigeria introducing 17 regulatory actions in 14 months. The report stresses that success in compliance over the next 18 months will depend on robust systems rather than just AI tools.

The forum featured key figures from various financial and regulatory bodies, with Uche Henry Ifeanyi delivering the keynote address.