The corporation advised customers to ensure their phones had passwords and not share their mobile bank application passwords with anyone. It also warned bank customers to ensure that their token was secured and that other parties could not access it.
In addition, the NDIC urged customers to ensure that their debit card numbers and Card Verification Value (CVV) were not exposed to others. These measures are necessary to protect customers from the rising tide of fraudulent activities by scammers.
The NDIC's warning comes amid reports of increasing bank fraud cases, which has become a significant concern for banks and customers. These fraudulent activities include phishing scams, ATM skimming, identity theft, etc.
With the advent of digital banking and the use of mobile devices, fraudsters have become increasingly creative in their tactics. They use social engineering to trick unsuspecting victims into giving away their personal details, including bank account information, passwords, and other sensitive information.
Therefore, the NDIC's warning is timely, as it seeks to educate bank customers on the need to take precautions to safeguard their accounts. The corporation's tips are practical and easy to implement, and bank customers must follow them to protect themselves from fraudsters.
The NDIC is a statutory agency established under the NDIC Act No. 16 of 2006, with the mandate to protect depositors and guarantee the settlement of insured deposits in the event of the liquidation of an insured bank. The corporation is also responsible for ensuring the safety and soundness of the Nigerian banking system.