2 Tricks Scammers Are Using to Steal From Bank Accounts

Nigerian banks are raising fresh alarms over new tactics fraudsters are using to infiltrate customer accounts, with billions of naira already lost to cybercriminals. 

The most recent warnings came from Wema Bank and Ecobank, both cautioning customers against deceptive tricks that have become increasingly sophisticated.

Fake messages and phishing links

Wema Bank urged its customers to ignore suspicious texts, emails, and links that appear to come from the bank but are actually designed to harvest sensitive details. 

The bank’s statement emphasized that it will never ask customers to respond to strange messages or click on external links to “verify” their accounts. Instead, customers were advised to confirm every communication directly with Wema through official contact lines such as 07000PURPLE and 08039003700.

“Scam Alert! Never click on suspicious links or respond to strange messages claiming to be from Wema Bank,” the bank stated, reminding users to stay alert in order to protect their accounts.

Fraudulent calls from “Bank Officials”

Ecobank, on its part, issued a strong warning against phone scams. According to the bank, fraudsters now pose as bank representatives, calling customers and requesting sensitive information such as PINs, OTPs, and passwords. 

In some cases, scammers even mine social media profiles for personal information they can exploit.

“Scammers are calling, don’t pick up trouble!” Ecobank’s advisory read. The bank advised customers to hang up on unexpected calls requesting banking details and to think carefully before sharing personal information online.

Other banks join in warning

First Bank has also joined the chorus of caution, reminding customers that no genuine bank official will ever ask for account credentials or redirect them to messaging apps like WhatsApp or Telegram for complaint resolution.

The bank stressed that scam awareness must remain high at all times, as fraudsters continue to adapt and exploit trust.

How N10 Billion was stolen

These warnings are not without context. In July, Hope Payment Service Bank was the victim of a massive cyberattack in which over ₦10 billion was siphoned and distributed across 818 accounts. 

The Federal High Court in Abuja has since ordered a 30-day freeze on the accounts suspected of receiving the stolen funds, as investigations continue.

The incident underscores just how high the stakes have become. Cybercriminals are no longer targeting individuals alone entire financial institutions are being compromised, with ripple effects across the banking sector.

How to stay safe

Experts stress that while banks are stepping up security measures, the responsibility of safeguarding accounts also lies with customers. Nigerians are urged to:

• Avoid clicking on unsolicited links.
  
• Never share PINs, passwords, or OTPs with anyone.
  
• Confirm all bank communications through official channels.
  
• Be cautious about the information shared publicly on social media.
  

As scammers refine their tricks, vigilance remains the best defence. The message from the banks is clear: think before you act, and when in doubt, hang up or log out.