The Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has warned customers to remain vigilant against phishing scams, following the circulation of fraudulent text messages impersonating financial institutions.
Fake bank websites, cloned social media accounts and fraudulent text messages are increasing cybersecurity risks for Nigerian bank customers, as fraudsters devise new ways to steal sensitive financial information.
A fact-check by FactCheckAfrica found that links contained in the messages redirected users to cloned internet banking websites designed to harvest login credentials, Bank Verification Numbers, card details and transaction PINs.
The development reveals growing security challenges confronting Nigeria’s banking industry as more customers embrace digital financial services.
In June, Wema Bank suspended its activities on X, following reports of more than 70 fake accounts impersonating the bank and its digital banking platform, ALAT.
In the same vein, Zenith Bank revealed in August that it was investigating unauthorised access to customer data linked to a global cyberattack.
Speaking on the development, ACAMB President, Jide Sipe, said that fraudsters were increasingly exploiting the identities of trusted financial institutions to deceive customers and obtain their personal information.
He noted that the use of customers’ names, phone numbers and bank logos in fraudulent communications made it increasingly difficult for unsuspecting users to distinguish between genuine messages and scams.
“When a scam message carries your name, your phone number or your bank’s logo, it looks real. That is exactly why customers must slow down. No bank in Nigeria will ask you to confirm your PIN, password, OTP or BVN through a link,” Sipe said.
He acknowledged efforts by banks to strengthen fraud detection and customer protection, as well as regulatory measures introduced by the Central Bank of Nigeria (CBN) through its mandatory cybersecurity self-assessment guide.
However, Sipe stressed that technological safeguards should be complemented by customer awareness and vigilance to reduce exposure to cyber fraud.
“Banks can strengthen their security systems, but fraudsters continue to find ways to exploit unsuspecting customers. We must all remain vigilant. Always pause, verify requests through official channels and report anything suspicious before taking action,” he added.
ACAMB advised customers to avoid clicking links in unsolicited messages requesting them to verify, reactivate or secure their bank accounts, warning that such links could lead to fraudulent websites designed to steal financial information.
The association also cautioned customers against disclosing their personal identification numbers, passwords, one-time passwords, card verification values and BVNs in response to suspicious requests.
It urged customers to verify questionable communications through their banks’ official mobile applications, verified social media accounts and published customer service numbers.
Should any customer had entered their banking details on suspicious websites, the association advised that such persons should contact their banks immediately to secure their accounts and block affected cards where necessary.
ACAMB reaffirmed its commitment to working with banks, regulators and the media to raise awareness of cyber fraud and promote safer digital banking practices.
