Nigerian Bank Discovers New App Used by Fraudsters to Hack Account, Warns Customers

Nigerian Bank Discovers New App Used by Fraudsters to Hack Account, Warns Customers

  • Nigerian bank has warned customers about new malware used by fraudsters to hack accounts and steal information
  • Customers are advised to safeguard devices and personal information against phishing emails and malicious websites.
  • Malware enables fraudsters to remotely access and control devices, giving them access to sensitive information journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Wema Bank has issued a warning regarding a new banking cyber threats targeting android devices.

The bank said the malware is called "Brokewell" and has cautioned customers to remain alert and never download.

Nigerian bank fraud
Nigerian Bank to avoid clicking links Photo credit: Thana Prasongsin
Source: Getty Images

Wema Bank explained that the malware is designed to steal sensitive information such as banking details and personal data, is being spread through various means, including phishing emails and malicious websites.

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It added that once installed on a victim's device, the malware can allow fraudsters to remotely access and control the device, giving them unrestricted access to the victim's personal and financial information.

Message to customers reads:

“We've recently identified a significant threat to the security of your Android mobile devices; the "Brokewell" banking malware.
"This malicious software is designed to steal sensitive information and gain control over infected devices by posing as legitimate apps.
“To protect yourself, follow these steps: Keep your device updated with the latest operating system and security patches.
"Install a reputable antivirus app from trusted sources like the Google Play Store. Only download apps from official stores and avoid third-party sources. Review app permissions before installation.
"Beware of phishing attempts and suspicious links. Monitor your device for unusual behavior. If you suspect infection, perform a factory reset immediately.”

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Flutterwave denies hackers stole customers' N2.9bn

Earlier, previously reported that Flutterwave has denied allegations that hackers stole N2.9bn from its platform and stashed the funds in 27 bank accounts

The company stated that its security measures are robust enough to prevent such attacks

The fintech company has also assured its users and the public that their funds are safe and secure on its platform

According to the statement, the company's team immediately launched a review, which revealed that some users who had not activated recommended security settings might have been susceptible.


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