Peak Shopping Season: Banks Sound Alarm Over Digital Payment Scams

By FIDELUS ZWANSON

NIGERIAN banks have warned customers to remain alert as increased shopping and travel activity raises the risk of digital payment fraud.

Financial institutions say the surge in card payments, online purchases, travel bookings and cross-border transactions could give fraudsters more opportunities to target unsuspecting customers.

Access Bank Plc has urged customers to be particularly careful with unsolicited promotions and attractive offers.

The bank warned customers not to disclose their one-time passwords, card verification values, personal identification numbers or card details to anyone seeking to process a promotion or special offer.

Fraudsters often use fake discounts, gift cards and promotional deals to trick victims into revealing confidential banking information.

Access Bank advised customers to treat unexpected messages with caution, especially when the sender requests sensitive account details.

The bank also reminded customers that legitimate promotions should not require them to surrender confidential banking credentials.

Customers who suspect that their banking information may have been compromised can take steps to protect their accounts.

Access Bank said customers can block their accounts from any phone by dialling 901911#.

The bank also directed customers to Tamada, its 24-hour virtual banking assistant, through the Access More application.

Customers can access the service by logging into Access More, selecting “Support” and choosing “Chat with Tamada.”

The warning comes as consumers increasingly rely on digital platforms for shopping, travel and payments.

That growing dependence has expanded the opportunities available to fraudsters who impersonate banks, retailers, travel companies and other businesses.

Banks have repeatedly advised customers to verify suspicious requests through official channels instead of responding to unsolicited messages.

OTP, CVV and PIN details remain among the most sensitive information linked to electronic banking transactions.

Consumers should therefore verify promotional offers before taking any action.

They should also avoid clicking suspicious links or providing confidential banking details in response to unexpected messages.

For shoppers and travellers, the advice remains simple: verify first and disclose nothing sensitive unless the request comes through a trusted and official channel.