CBN Alerts Nigerians on Fraudsters’ Tactics, Shares Tips To Avoid Falling Victim
- The CBN has issued an alert to the public about fraudulent messages falsely claiming to originate from the bank
- The apex bank said the fake messages are designed to mislead Nigerians and steal personal and financial data
- CBN urged the public to avoid suspicious links and verify all information through its official website
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The Central Bank of Nigeria (CBN) has warned Nigerians against fraudulent messages, emails, and online communications falsely claiming to originate from the apex bank, saying they are designed to mislead the public and compromise personal accounts.
In a statement signed by Hakama Sidi-Ali, Acting Director of Corporate Communications, the CBN said the alert was issued to protect Nigerians from cybercriminals circulating deceptive messages in its name.
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The statement reads in part:
"The Central Bank of Nigeria (CBN) wishes to alert members of the public to the circulation of fraudulent messages, emails, and online communications purporting to originate from or be associated with the Bank, which are intended to misinform members of the public.
"These fraudulent messages, which prompt recipients to click links, peddle false information about the Bank's leadership, licensing, and policy issues, and are intended to hack personal accounts."
CBN shares tips to avoid fraud and scams
Beyond the latest warning, the CBN said fraud and scams are becoming increasingly sophisticated in the digital age, making vigilance essential for individuals and businesses.
The bank identified phishing as one of the most common threats, where fraudsters impersonate trusted organisations through emails, text messages or phone calls to steal passwords, bank details and other sensitive information.
It advised Nigerians never to click suspicious links and to verify the identity of anyone requesting confidential information, Leadership reports.
The apex bank also warned against online shopping scams, urging consumers to buy only from trusted websites, ensure payment pages use secure "https://" connections, and check reviews before making purchases.
On investment scams, the CBN cautioned Nigerians against offers promising unusually high returns with little or no risk, including fake cryptocurrency and Ponzi schemes. It advised prospective investors to conduct proper research and seek professional financial advice before investing.
The bank further highlighted the dangers of identity theft and social engineering scams, where criminals manipulate victims into revealing confidential information by pretending to be government officials, colleagues or relatives in distress.
To reduce the risk of fraud, the CBN encouraged Nigerians to use strong and unique passwords, enable two-factor authentication, shred sensitive documents before disposal, and regularly monitor their bank accounts for unauthorised transactions.
Source: Facebook
What to do if you become a victim
The CBN advised anyone who suspects they have fallen victim to fraud to contact their financial institution immediately to secure their accounts and reverse unauthorised transactions where possible.
It also urged victims to report incidents to law enforcement agencies, including the Economic and Financial Crimes Commission (EFCC), the Nigeria Police Force, the Department of State Services (DSS), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), or, in cases involving international cybercrime, the United States Federal Bureau of Investigation's Internet Crime Complaint Centre.
The bank also advised affected individuals to change compromised passwords immediately and enable two-factor authentication to improve the security of their online accounts.
The CBN reaffirmed its commitment to protecting the Nigerian financial system, saying it continues to strengthen its cybersecurity frameworks in collaboration with relevant agencies to combat digital fraud.
Ecobank exposes fraudsters' new methods to steal passwords, PIN
Earlier, Legit.ng reported that Ecobank Nigeria has issued a warning to customers over new cyber threats, urging vigilance against fake banking apps and deceptive pop-ups designed to steal personal information.
In a public advisory, the bank said that scammers are creating clone banking apps and pop-ups that mimic legitimate banking platforms.
It added that once installed, these fraudulent apps can access users’ phones and steal sensitive information, including PINs, passwords, and one-time passwords (OTPs), which can be used to carry out unauthorised fund transfers.
Source: Legit.ng
