The Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has urged Nigerians to exercise greater caution when using digital banking services, warning that fraudsters are increasingly deploying fake bank alerts, cloned websites and impersonation accounts to steal customers’ financial information.
The warning comes amid reports of fraudulent text messages designed to impersonate banks and trick customers into revealing sensitive details. Investigations by FactCheckAfrica found that a link circulated in one such message redirected users to a fake internet banking website created to harvest login credentials, Bank Verification Numbers (BVNs), card details and transaction PINs.
ACAMB President, Jide Sipe, said cybercriminals were becoming more sophisticated in their methods, making fraudulent messages increasingly difficult to distinguish from genuine bank communications.
He warned that scammers could make their messages appear authentic by including customers’ names, phone numbers and bank logos.
According to Sipe, customers must remain alert and resist any request to disclose confidential banking information through suspicious links.
‘Banks Will Never Ask for Your PIN Through a Link’
Sipe stressed that legitimate banks in Nigeria would not ask customers to confirm their PINs, passwords, one-time passwords (OTPs) or BVNs through links sent in unsolicited messages.
He urged customers to avoid clicking links that claim their accounts must be verified, reactivated or secured urgently, noting that such messages could be designed to create panic and prompt victims to act without checking their authenticity.
He also acknowledged efforts by banks to strengthen fraud detection and customer protection, alongside cybersecurity measures introduced by the Central Bank of Nigeria.
However, he maintained that technological safeguards alone could not eliminate fraud without customers taking responsibility for protecting their personal information.
Fake Social Media Accounts Raise Concerns
The warning follows previous incidents involving fraudulent online accounts and suspected cyberattacks affecting financial institutions.
In June, Wema Bank suspended its engagements on X, formerly Twitter, amid reports of more than 70 fake accounts impersonating the bank and its ALAT digital banking platform.
In August, Zenith Bank disclosed that it was investigating unauthorised access to customer data linked to a global cyberattack.
These incidents highlight the risks customers face when interacting with unverified accounts or responding to messages that appear to originate from financial institutions.
How Nigerians Can Protect Their Bank Accounts
ACAMB advised bank customers to take the following precautions:
- Avoid suspicious links: Do not click links in unsolicited messages requesting account verification or reactivation.
- Protect confidential information: Never disclose your PIN, password, OTP, CVV or BVN in response to suspicious requests.
- Verify messages independently: Contact your bank through its official mobile application, verified social media accounts or published customer service numbers.
- Report suspicious activity: Inform your bank immediately if you receive a suspicious message or notice unusual transactions.
- Act quickly after exposure: If you have entered your banking details on a suspicious website, contact your bank immediately to secure your account and block affected cards where necessary.
Sipe urged Nigerians to pause and verify before responding to messages involving their finances, stressing that customer awareness remains an important defence against digital banking fraud.
As online financial services continue to expand across the country, ACAMB reiterated the need for cooperation among banks, regulators, the media and customers to improve cybersecurity awareness and promote safer digital transactions.
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