Bank Cautions Depositors On Rising Fraud Cases

Access Bank Plc has called on customers to be vigilant of the common tricks used by fraudsters to rob them of their monies.

The Executive Director, Retail Banking, Access Bank, Victor Etuokwu, made the call on Friday in a statement, entitled ‘Be fraud smart – Access Bank urges customers.’

He said as the Nigerian banking industry witnessed increased regulatory scrutiny due to the impact of COVID-19, bank customers had not been spared from the fraudsters.

Etuokwu expressed concern over the growing number of fraud cases being reported.

He implored customers to take more responsibility in safeguarding their funds and offered reassurance of the bank’s commitment to providing information relevant to identifying and fending off fraudsters.

He said, “Over the last few months, the number of reported fraud cases has spiked considerably. This is not unexpected as the current economic hardships experienced due to COVID-19 has caused many to be vulnerable.

“However, this trend has become very disturbing, while we urge customers to become more aware of the tactics employed by fraudsters.

“Access Bank will continue to educate customers on how to avoid falling victims as well as deploy resources to ensure the security of customers’ funds.”

The bank, he said, had identified smishing, phishing, social engineering, and identity theft as the most common methods used by fraudsters.

He said, “To aid the fight against this common enemy, we have put more power in the hands of our customers, through the *901*911# USSD code.

“We have provided a platform through which customers can immediately deactivate their USSD profile by dialling *901*911# from any phone in the event their mobile devices get lost or stolen.” He said through the years, Access Bank had remained committed to educating its customers, informing and protecting them from fraudsters.