5 ways to Protect Your Bank Account from Scammers

This is the time for everyone to be concerned about the security of their bank accounts. Fraudsters/scammers are on the move to scam people by creating new sophisticated techniques to steal their money.

According to the Central Bank of Nigeria, cybercriminals resorted to taking advantage of the COVID-19 pandemic to defraud citizens, steal sensitive information and gain unauthorized access into computers or mobile devices using different methods.

Here are simple steps you can take to protect your bank accounts:

Guard your card by not revealing your card number, OTP, Pin and password. Don’t reveal any of these especially if the person requesting for such information claims to be from your bank’s headquarters. If needed, take out time to visit your bank to find out things for yourself.

2) Check the machine

Fraudsters can access your bank account via ATM by installing a ‘skimmer’ over the card reader, which captures the information on your card, this happens when you place it into the machine. After accessing the card, the information is used to create a dummy card, which can also be used to access your account.

So, before placing your card into the machine, check for signs of tampering, scratches and marks. Also, look out for colored plastic around the card slot. If you suspect anything suspicious, avoid inserting your card in the ATM.

3) Check your balance

Ensure you check your account balance regularly. When doing this, check your transactions and make sure they are aligned with what you’ve spent. This will minimize the damage of any illegal activities on your card.

4) Don’t entertain unsolicited phone calls

Scammers use the technique of calling and sending SMS, asking for your personal details about your bank accounts and yourself claiming to be your Bank Manager.

When you receive this call or SMS, ensure you end the call or delete the message immediately because responding to them might be giving them the time to access your personal or bank details.

5) Know who you’re speaking with

Be careful of who you share your account details with, whether your family members or friends. Ensure you share your bank details with someone or people you trust.

For instance, they may pretend to be nice and good but in the long run, they hand over your personal information to scammers to fulfill their selfish desires. Be alert!