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Since the emergence of the cashless policy in Nigeria, most bank transactions has gone digital. People no longer stand on long queues in the banking hall to deposit money or collect cash. ATM, bank transfers and Point of sale (POS) has made all these easier.

Using any of these digital avenue is stress free and fantastic but some scammers has capitalized on this to swindle unsuspecting individuals of their money. Business men and women who are are not technologically savvy are more vulnerable to this wicked act.

Falling prey to this and losing your money can be painful and it can lead to financial loss, it makes you look stupid.

Bank alert scam is very popular now because of the large number of people using bank accounts for their businesses and the introduction of SMS alert Services in various banks.

Fake credit alert scam is carried out using a method called ‘Bulk SMS’ and fake alert App.This is simple for them to carry out, all they need is your phone number. If the scammer gets your phone number and bank details, they customize a fake SMS which would look exactly like your bank’s credit alert SMS and then add the amount of money you both agreed on.

The message will look real and genuine when you receive the alert but there are ways you can detect the fake alert.

1:When your account is credited endeavour to check if the alert contains your available bank account balance. If the SMS alert doesn’t contain your available balance, then something is wrong. An authentic SMS alert from your bank must have your balance, and also be in the same SMS inbox of your previous alerts if any.

2: You can also check your Email, if your Email is linked to your account. Fake alerts don’t drop on your Email, they only send through SMS.

3: Always remember to check your available balance using your bank USSD code or via your mobile App or visit the nearest ATM to check your account balance.

Avoid clicking on links that request for your bank account details or BVN, Debit card pin and so on. Stay safe and avoid financial loses.

photo credit: PUNCH

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