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6 Ways To Protect Your Bank Account From Scam - Business - Nairaland

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6 Ways To Protect Your Bank Account From Scam by dre11(m): 9:25am On Sep 03, 2020
6 Important Things To Do To Protect Your Bank Account From Scam

In April this year, the Central Bank of Nigeria (CBN) issued a fraud alert to the Nigerian public about the alarming rate of cybercrime activities in the country. Since COVID-19 happened, cybercriminals have been on the rampage, defrauding citizens, stealing sensitive information, and gaining unauthorised access to electronic gadgets by all means necessary to them.

Below are six simple but useful ways gathered by DAILY TIMES that can help you secure your bank account and make it impregnable for scammers.

1) Never disclose sensitive information to anyone over the phone, via SMS, email, or in person.

Banks and various platforms are not oblivious of these, hence, the introduction of two-step verification to provide multiple channels of verifying your identity in case scammers gain access to one of the multiple access. Amidst all these, they still subtly masquerade themselves in appealing forms to retrieve sensitive details from you via phone calls, SMS, E-mail, or even in person.

The rule is simple. Never reveal your card number, OTP, Pin, or password to anyone over the phone, via SMS, email, or in person. Do not do this, even when the person requesting such details claim to be from your bank’s headquarters. Also, desist from clicking suspicious links or downloading attachments and apps from unknown sources.

Your bank will never call you with ‘080, 070, 090, etc’ kind of number. Also, they’ll never ask you for your ATM pin or ask you to disclose any information you just received via SMS or whatever. Most banks in Nigeria communicate via email.

2) Avoid the use of unsecured internet access

Do not perform sensitive financial transactions using public wifi or networks you do not know the source. Do not let your love for free things expose you to risks. Instead, use a secure connection whenever you perform online transactions. Scammers take advantage of this and tap into your electronic device to illegally access sensitive information.

3) Inspect the ATM machine

Another common way scammers now use to gain access into your bank account is by installing a ‘skimmer’ over the card reader in the ATM. A skimmer captures the data on your card when you place it into the machine. The scammers then use that data to create a dummy card, which can also be used to access your account.

Skimmers are not always obvious as they are built to blend in with ATMs but you need to be actively looking for them. So before you place your card into the card reader, always check the ATM for any signs of tampering, including scratches and marks; anything that looks out of place, for instance, different coloured plastic around the card slot; anything that moves when it’s pushed (ATMs are built well and don’t usually have loose parts).

If you notice anything suspicious, report it to the financial institution that owns the ATM and use another machine. Skimmers don’t restrict the ATM from dispensing cash. Its aim is to collect your card details.

4) Keep your card out of the sight of unfamiliar/suspicious faces

Not all card-related scams happen at the ATM. Another common place for scammers to steal your card information is at places you go to chill out or have unfamiliar faces like a restaurant or shop. This could involve a waiter subtly taking your card away from your table to create a dummy card. Alternatively, a store attendant may skim your details while it’s behind their desk. Never let anyone take your card out of your sight.

DISCLAIMER: Family members can also gain access to your bank accounts without your permission. So, keep an eye on them and your card too.

5) Check your balance regularly

Check your account balance regularly. Go through your transactions and make sure your account balance correlates with what you’ve received and withdrawn. If you operate a joint account, let your partner do the same. Banks are usually quite effective at detecting suspicious activity on their customers’ accounts. But they’re not always perfect. This will limit the possibility of your account being compromised. If you ever notice anything suspicious call your bank or financial institution immediately.

6) Stay vigilant

Finally, scammers rely on targeting their victims when they’re distracted or when they least expect it. For that reason, many bank card breaches happen in crowded places (such as busy malls), when we’re enjoying ourselves (such as bars and restaurants) or when we’re out of our comfort zone (such as when we’re overseas).

For that reason, you should always be especially cautious when you’re at your most vulnerable. If you notice fraudulent activity on your bank account, notify your financial institution immediately so that your card can be put on hold or canceled.

SOURCE

33 Likes 6 Shares

Re: 6 Ways To Protect Your Bank Account From Scam by adeiza4u(m): 9:32am On Sep 03, 2020
Thanks.
The likes of Access Bank should upgrade and stop using normal phone numbers to call customers. They called the other day and I mistook them for 419iers being that these guys have been my regulars. But I always make sure I burn their call cards before asking dem to embrace Jesus Christ real quick and good.

Modified:
Wow FTC,
I dedicate this prize to Righteousness89. You're doing a great job here and I really wish to be like you someday. Keep on it, God's Evangelist.

103 Likes 7 Shares

Re: 6 Ways To Protect Your Bank Account From Scam by fastlane84: 9:56am On Sep 03, 2020
that Atm own weak me hoo do it happen in naija

11 Likes 1 Share

Re: 6 Ways To Protect Your Bank Account From Scam by Finnese001: 1:13pm On Sep 03, 2020
grin

1 Like 2 Shares

Re: 6 Ways To Protect Your Bank Account From Scam by anambraamaka: 1:13pm On Sep 03, 2020
Thanks op
Re: 6 Ways To Protect Your Bank Account From Scam by Slawormir: 1:13pm On Sep 03, 2020
Damnnnnn niggarr
Isoright
Re: 6 Ways To Protect Your Bank Account From Scam by Shellsploit: 1:13pm On Sep 03, 2020
Na kolo sure pass...
After all, no frequent atm charges, transaction fees and atm maintenance fees.. grin

21 Likes

Re: 6 Ways To Protect Your Bank Account From Scam by jericco1(m): 1:13pm On Sep 03, 2020
Please Access Bank reverse my money ooo!!! angry angry

2 Likes

Re: 6 Ways To Protect Your Bank Account From Scam by Damidave1124(m): 1:13pm On Sep 03, 2020
Nice tips,
Always be vigilant, never trust anybody in Nigeria

1 Like

Re: 6 Ways To Protect Your Bank Account From Scam by Macsjebs(m): 1:14pm On Sep 03, 2020
Thanks for these tips

2 Likes

Re: 6 Ways To Protect Your Bank Account From Scam by Rikze: 1:14pm On Sep 03, 2020
As my account balance take be now eh, anybody wey wan scam me

through the account fit end up dropping small thing for me once e see the

account balance.


Na red e be so!!!

14 Likes

Re: 6 Ways To Protect Your Bank Account From Scam by flexd99(m): 1:14pm On Sep 03, 2020
Quire informative, just learned of the skimmer part tho.

BTW,
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1 Like

Re: 6 Ways To Protect Your Bank Account From Scam by rentAcock(m): 1:14pm On Sep 03, 2020
The best way to protect your money from scammers is to buy crypto currency and then transfer it to a cold wallet. I converted all my savings to bitcoin back in 2015 and have been doing so every time I'm paid. Not only has the value gone off the roof, not a single kobo has been lost to scammers or robbers.

13 Likes 1 Share

Re: 6 Ways To Protect Your Bank Account From Scam by kingsolomonjnr01(m): 1:15pm On Sep 03, 2020
Useful
Re: 6 Ways To Protect Your Bank Account From Scam by MajorOvakporaye(f): 1:15pm On Sep 03, 2020
Free Hushpuppy!!!

4 Likes

Re: 6 Ways To Protect Your Bank Account From Scam by uniqueuser(m): 1:15pm On Sep 03, 2020
EveryBody Now Is Claiming Yahoo Boy. Even Those That Know Nothing About Computers Want To Join Yahoo.
Crime Doesn't Pay

7 Likes

Re: 6 Ways To Protect Your Bank Account From Scam by miniziter(m): 1:16pm On Sep 03, 2020
Check balance always Bawo? Person no go mad so?
Re: 6 Ways To Protect Your Bank Account From Scam by abdul4new: 1:16pm On Sep 03, 2020
On point with the economic hardships ravaging the country now, no thanks to covid19 and lockdown Vigilant on Bank transactions should be our top priority.
Re: 6 Ways To Protect Your Bank Account From Scam by Agboki: 1:16pm On Sep 03, 2020
Bank self dey dupe u and Pray say bank get ur tym wen dem even temper with ur account our system na rubbish, meanwhile I disable my ATM because d plenty wayo Wey banks dey do me self.
Re: 6 Ways To Protect Your Bank Account From Scam by nairaman66(m): 1:16pm On Sep 03, 2020
Lol
Re: 6 Ways To Protect Your Bank Account From Scam by Realadey(m): 1:16pm On Sep 03, 2020
Thanks op
Re: 6 Ways To Protect Your Bank Account From Scam by TheSERAPH: 1:16pm On Sep 03, 2020
okay
Re: 6 Ways To Protect Your Bank Account From Scam by ForeThinker: 1:17pm On Sep 03, 2020
Naxxxo
Re: 6 Ways To Protect Your Bank Account From Scam by Brio984(m): 1:18pm On Sep 03, 2020
Let me start by saying this your account can not be hacked using ur BVN. Ur BVN is totally safe in public domain...

1 Like

Re: 6 Ways To Protect Your Bank Account From Scam by Chicastle: 1:18pm On Sep 03, 2020
fastlane84:
that Atm own weak me hoo do it happen in naija

May be OP see am for Google

3 Likes

Re: 6 Ways To Protect Your Bank Account From Scam by SegFault: 1:18pm On Sep 03, 2020
Slawormir:
Damnnnnn niggarr
Isoright

6 Likes

Re: 6 Ways To Protect Your Bank Account From Scam by londonderry2: 1:19pm On Sep 03, 2020
Good content
Re: 6 Ways To Protect Your Bank Account From Scam by SegFault: 1:19pm On Sep 03, 2020
MajorOvakporaye:
Free Hushpuppy!!!

5 Likes

Re: 6 Ways To Protect Your Bank Account From Scam by ipobarethieves: 1:19pm On Sep 03, 2020
sad
Re: 6 Ways To Protect Your Bank Account From Scam by Nobody: 1:21pm On Sep 03, 2020
DM for more info on how to protect your Facebook bank account and WhatsApp

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