ACAMB warns bank customers about phishing scams and protecting personal information

The Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has warned bank customers to stay alert against phishing scams and other cyber frauds. Criminals are using fake bank alerts, cloned websites, and impersonation accounts to steal sensitive financial information.

This warning comes after a fake text message impersonating different banks was reported. FactCheckAfrica looked into the message and found that the link led to a cloned internet banking site. This site was made to steal customers' login details, BVNs, card information, and transaction PINs.

This incident shows the dangers of digital banking fraud in Nigeria. In June, Wema Bank stopped its activities on X after learning about over 70 fake accounts pretending to be the bank and its ALAT platform. In August, Zenith Bank Plc revealed that it was looking into unauthorized access to customer data linked to a global cyberattack.

ACAMB President, Jide Sipe, said fraudsters are getting better at using clever methods to pretend to be trusted banks and steal customers’ personal information. Their scams are becoming harder to tell apart from real messages.

"When a scam message has your name, your phone number, or your bank’s logo, it looks real. That is why customers must slow down. No bank in Nigeria will ask you to confirm your PIN, password, OTP, or BVN through a link," Sipe said.

Sipe recognized the work banks are doing to improve fraud detection and protect customers. He also mentioned the new rules from the Central Bank of Nigeria’s cybersecurity self-assessment guide. But he insisted that customers also need to be aware and careful, especially when asked for sensitive banking details.

"Banks can improve their security systems, but fraudsters always find ways to trick unsuspecting customers. We must all be cautious. Always pause, check requests through official channels, and report anything suspicious before taking action," he added.

Sipe advised customers not to click on links in unexpected messages asking them to verify, reactivate, or secure their bank accounts. He also warned against sharing personal identification numbers (PINs), passwords, one-time passwords (OTPs), card verification values (CVVs), or BVNs in response to suspicious requests.

Customers should check these requests directly with their banks using official mobile apps, verified social media accounts, or published customer service numbers. Anyone who has entered banking details on a suspicious website should reach out to their bank right away to secure their account and block affected cards if needed.

ACAMB confirmed its commitment to working with member banks, regulators, and the media to raise awareness about cyber fraud and encourage safer digital banking practices as more people use online financial services in Nigeria.