Be cautious if your phone number is linked to your bank accounts

Adelowokan (not real name) lost his handset to pick pockets while returning from work in the evening three months ago. Not realizing what he was about to do to himself, he failed to go back to his network provider to retrieve his line or block it; instead he decided to go for a new line.

Unknown to him, that line is linked to his saving bank and had exposed himself ignorantly to fraudsters.

The pick pocket whose mission is to see who will fall prey to his antics was happy that Adelowokan did not bother to destroy his SIM card.

Each time Adelowokan did any transaction on his account; the fraudster received alerts and so knew whenever Adelowokan paid in money into his account. But unfortunately, Adelowokan who owns the account did not bother to check with his bank to know why he was not getting alerts of his transaction on his new phone; neither did he inform his bank that he has changed his phone number.

This continued for some time until almost all the money in Adelowokan’s account has been taken away by the fraudster using his old phone.

The fraudster each day that pass recharges his second phone by transferring artime from Adelowokan bank linked to the phone, until he had almost exhausted all the money in the account.
Joseph, who is a bank offer in Apapa where Adelowokan has his account, blamed the victim for not notifying the bank when he changed his phone number.

“This is an era of technology and a lot of e-fraud is going on. People should not take information for granted; notify your bank of any changes in your name, phone number or residential address, that will help the bank update your record at every given time.”

When using internet banking, here are some of the rules you to observe according to experts from HSBC.

Avoid accessing your bank account with public computers.

Never disclose your personal security details, eg. account number, PIN or security code to others.

Do not fall for money-laundering scams. Be wary of any ‘business opportunity’ that involves receiving or holding money for strangers. Report any unusual transactions in your statement immediately.

Banks will not display your personal information in emails or ask you to confirm any personal data by replying emails *.

Always keep the electronic receipt for fund transfer and bill payment transactions.

Memorise your PIN and do not write it down.

Select PINs that cannot easily be guessed by anyone.

Use different PINs for different websites.

Never disclose your PIN to anyone, not even someone claiming to be from the bank or the police.

 

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