Prembly Launches FraudLens to Combat African Fraud

Prembly, a Nigerian digital security company, launched FraudLens, an open-source fraud intelligence bank. Built on millions of identity verification checks, it serves as a publicly accessible repository of fraud data starting in Nigeria. As digital financial services expand across sub-Saharan Africa, nearly 60% of adults now hold accounts, up from 40% a decade ago. This growth has improved financial inclusion but also opened new fraud avenues, costing the continent $10 billion annually. AI techniques like synthetic identity scams amplify losses. FraudLens centralises intelligence to help businesses detect fraud patterns earlier and promote safer practices. CEO Lanre Ogungbe stated data sharing is critical for fraud reduction. Founded in 2021, Prembly provides AI tools including IdentityPass and Background Checks. FraudLens aggregates data from hundreds of businesses, offering intelligence on bad actors and documented cases to financial institutions, researchers, and consumers. It helps detect risks, protect customers, and strengthen accountability.

SOURCE: https://techcabal.com/2026/03/10/nigerias-prembly-launches-shared-open-source-database/