Internet Banking Scammers in Nigeria and online fraudsters are evolving in their strategies every day. It is your responsibility as a bank customer to be informed about what to do to protect your account from being hacked.
What to Know About Internet Banking Security in 2017
Internet Banking Security Threats on the Increase In Nigeria
Internet banking security is very important if you transact online. Scammers in Nigeria and online fraudsters are evolving in their strategies every day. It is your responsibility as a bank customer to be informed about what to do to protect your account from being hacked.
If receive emails that look like they came from your Bank asking for your security information, ignore them. They are most likely from scammers that want to get into your account and steal your money.
No Nigerian bank will never ask you to disclose your personal or internet banking security details by email. You will be asked to visit the bank personally if it involves your banking information.
How Internet Banking Scammers in Nigeria Operate
Taking Advantage of Your Trust
Banking is a business based on 100 per cent trust between you and your bank. It is a business based on utmost good faith. What the scammers do is to take illegal advantage of that trust by sowing a seed of fear in the account holder’s mind.
Internet Banking Security Scam in Nigeria Is a Game of Numbers
They do this by harvesting thousands of random emails from the internet and then send the same general fraudulent email to these email addresses.
Since they don’t know your personal bank details, they email you as if they are from your bank asking you for them.
The content of the email usually ask you to update your banking details by replying to the email address used to send you the message or to click a link to inserted in the email to the bank website and update your banking details from there.
No Nigerian bank will ever ask you to disclose your personal security details via email or to click a link to their website and ask you to update your details there.
If you get any email asking you to ‘verify your account’, ‘confirm your sign-in details’, ‘update your bank details’ or a such request, it’s certainly a scam.
Most times, the links inserted in these ‘phishing’ emails will lead you to a site that asks you to ‘update’ or ‘verify’ your details on the page. Note that these will usually appear to be genuine. Don’t click on the links or give out your internet banking security details.
About Genuine Emails from Nigerian Banks
Genuine emails from Nigerian banks may contain links. However, these links will never take you directly to any Internet Banking log-in page where you will type in your banking details.
Whenever you doubt whether an email is genuine, ignore or delete it. Don’t click on any of its links or open any attachments. Your internet banking security is your responsibility first of all.
What Nigerian Banks Need You To Know About Internet Banking Security
Nigerian banks want the security of their service impenetrable. They want to help you keep your money safe. While online banking is a relatively safe way to manage your funds and do banking transactions.
Security measures by Nigerian banks to see that your online account information is protected have been put in place.
Here are some of them:
• Internet Banking (Online Banking) services are hosted on an encrypted server.
• Encryption changes your information into an encoded complicated format before sending it via the Internet.
• Internet Banking (Online Banking) portals will log you out if you haven’t used the service for period of time to provide security if you leave your computer, gadget or smart phone or forget to log-out.
• After a number of incorrect attempts to log-in to your account, the online banking application will disable your access to prevent scammers who repeatedly try different passwords to log in to your account.
If your access is disabled, just click on the “forgotten your password?” or “forgotten your log-in details?” link on the Internet Banking (Online Banking) log-in page and you will be directed on what to do.
Nigerian banks have extra layer of security added to protect our customers who use their Internet (Online) Banking services by introducing a second factor verification through the use of Tokens.
A token is a physical device that generates codes unique to only your account to secure your online banking transactions.
Demandsupplier.com encourages all bank account holders to use this service to further secure their money from internet banking scammers in Nigeria. Most banks charge less than a one-time fee of N3000 for a token.