If anyone is taking the statement “evolve or die” seriously, it is scammers. Every day, they are upgrading their tactics and approaches in an effort to fleece you of your hard-earned Naira. Show them that no matter how fast they are learning and evolving, they will never go unchallenged.
Whether online or offline, it is very important to shine your eyes, double-check and question everything you see, even if it looks familiar — confam am. The Central Bank of Nigeria (CBN) and the Bankers Committee have joined forces to combat this menace by bringing some of the common and emerging scams to your attention so that you can protect yourself from falling victim to these cheap tricks.
As a hardworking individual, it is your responsibility to stay on top of new updates scammers use to steal money from unsuspecting victims. Arm yourself with knowledge and exercise caution when carrying out transactions on e-commerce sites and even with mobile money agents.
Safeguard yourself with the below tips:
If your phone gets stolen use your bank’s USSD code +*911# to block all transaction
You suddenly can’t find your phone again? Don’t panic. Get another phone nearby and dial your bank’s USSD code and add *911# to it and follow the steps to block transactions from your account. For example, if you use GT Bank, dial *737*911# to block your account. See other codes below: Zenith Bank: *966*911# GTB: *737*51*74# WEMA: *945*911# FirstBank: *894*911# Keystone: *7111*911# UBA: *919*911# FCMB: *329*911# Sterling Bank: *822*911# Stanbic bank: *909*29# Fidelity bank: *770*911# EcoBank *326*911#.
Your bank will address you by your name, not “Dear customer”
Scammers will sometimes call or text to pretend as if they are your bank, addressing you as “Dear Customer” in emails or messages. Don’t be fooled. If the SMS or call is legit, they will address you by name. If you receive any messages starting with “Dear Customer,” it’s likely a scam. Before you do anything, confam am first by contacting your bank directly.
Contest any chargeback claims if they don’t seem right
If you’re a POS operator, scammers may target you with chargeback fraud. They make a successful transaction and then falsely claim it wasn’t authorised or that you debited the wrong amount. Don’t let them get away with it. Pay attention to your customers and contest any fraudulent claims within the 48-hour window provided by banks. Stay sharp and don’t let scammers catch you off-guard. Also pay attention to your customers as some may change the amount they want to withdraw when they handle the POS to input their pin.
Don’t Assume It Can’t Happen to You
Anyone can fall victim to scams, don’t say “can’t be me”, it can be you. Always cross-check the authenticity of links, messages, and information before taking action. It’s better to be safe than sorry. Shine your eyes well well.
Watch Out for Fake Transfers
Scammers may try to trick you with fake SMS or email alerts claiming a transfer has been made to your account. Before reacting, always confirm the transaction through your bank’s official app or website. Don’t fall for their deceptive tactics.
Lastly, protect your personal information because no real customer care agent will ever ask for sensitive details like your ATM number, OTP, or BVN over the phone. If someone claiming to be from your bank requests this information, hang up immediately. Don’t give scammers the opportunity to exploit you.
Join the fight against financial fraud. Say no to scammers, Confam Am again before you click any link. Together, let’s build a more secure and resilient financial ecosystem for all.
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This message is brought to you by the Central Bank of Nigeria (CBN) in partnership with the Committee of Chief Information Security Officers of Nigerian Financial Institutions (CISONFI).
