As the festive season approaches, criminals are deploying new tactics to exploit unsuspecting victims, resulting in Nigerian banking customers losing a staggering N51 billion to fraud, especially targeting Fintech bank customers.
Major banks like First Bank, Fidelity Bank, Access Bank, and others have ramped up efforts to educate customers on safeguarding their funds. These institutions are cautioning customers against falling prey to fraudulent activities and are sharing crucial messages on security measures.
Access Bank, in a recent communication, outlined various ways customers can protect themselves, including memorizing PINs, avoiding sharing PINs, shielding PINs at ATMs, and using a new PIN for a new card. The bank also provides a quick code (*901*911#) to block accounts in case of suspected compromise or device loss.
Zenith Bank emphasized monitoring account balances regularly, reporting suspicious transactions promptly, and keeping cards secure. It also advised against sharing credit card details via email and emphasized that the bank would never request updates to card details online or via email.
Guaranty Trust Bank (GTBank) cautioned against sharing internet banking login details, card information, PINs, and token device codes, emphasizing that the bank would never request such information through any communication means.
United Bank for Africa (UBA) highlighted the increase in fraudulent attempts to obtain confidential information and urged customers not to respond to suspicious emails requesting personal details.
These warnings come as financial institutions strive to protect customers during a season when fraud attempts typically escalate. The banks urge customers to stay vigilant, report any suspicious activity promptly, and adhere to security guidelines to prevent falling victim to cyber scams.