Don’t Fall Victim: First Bank, Zenith, Access, GTB, Others Send Messages to Customers As Fraud Losses Rise to Over N9bn
Nigerian banks intensify efforts against rising online scams targeting customers. Learn how banks educate and protect customers from fraud, with insights on recent losses and precautionary measures
Nigerian Banks Take Action Against Rising Online Scams: Educating Customers and Bolstering Security
Nigerian banks are worried because more and more of their customers are being tricked by online scams. So, they are working extra hard to help their customers understand and avoid these scams.
Rising Fraud Concerns and Losses
A recent report from NIBSS (an organization related to banking) showed that in the first six months of 2023, more than 9 billion Naira (the currency in Nigeria) was lost because of fraud in the banking system. This means that bad people are stealing money from people’s bank accounts.
Banks’ Educational Efforts on Social Media
Banks like Zenith Bank, Access Bank, and United Bank of Africa are doing things on social media to teach their customers how to be safe. They’re telling people what steps they can take to protect themselves from these scams.
Guidance and Warnings to Customers
These banks are sending messages to their customers in different ways. For example, they’re telling customers to be careful if they see someone on Twitter claiming to be from the bank. They’re saying not to share their private bank information with anyone pretending to be from the bank.
One bank even said to go to a bank branch or ATM to update personal information, and they reminded customers that the bank would never ask for certain private information through calls, texts, or emails.
Another bank warned about scam emails that ask customers to click on links or give away important information. They told people not to believe these emails.
Fidelity Bank said they would never ask for a customer’s PIN number, and they urged people not to believe anyone claiming to be from the bank who asks for it.
Access Bank advised customers to be very careful. They said not to share passwords, BVN (a unique bank number), or PIN with anyone, not even an employee from the bank. They also said not to click on links or download things from unknown sources, and not to share personal or financial information in response to messages or calls. If anyone asks for this information, they said to say no and contact the bank right away.
NCC’s Warning on Telecom Scams
On another note, the NCC (a different organization) received many complaints from people who were tricked by scams related to phone calls. Some fraudsters pretended to be telecom operators or lenders to steal money from people. The NCC wants Nigerians to be careful when they get suspicious calls, messages, or requests.
In short, Nigerian banks are working hard to help their customers avoid online scams because a lot of money has been lost to fraud. They’re giving advice on how to stay safe from these tricks. Additionally, the NCC is warning people about fraudsters who pretend to be from telecom companies or lenders and want to steal money.