ACAMB warns Nigerians over fake bank alerts, cloned websites as phishing scams rise

The Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has warned Nigerians that phishing scams targeting bank customers are rising. It said fraudsters now use fake bank alerts, cloned websites and impersonation accounts to steal BVNs, PINs and card details.

The warning followed a fraudulent text message that FactCheckAfrica investigated and found redirected users to a cloned internet banking website designed to collect login credentials, Bank Verification Numbers, card details and transaction PINs.

Scammers sound real, customers must slow down

ACAMB President Jide Sipe said scammers craft messages sophisticated enough to deceive even careful customers. He urged Nigerians to pause before acting on any unsolicited banking request.

Sipe said: “When a scam message carries your name, your phone number or your bank's logo, it looks real. That is exactly why customers must slow down. No bank in Nigeria will ask you to confirm your PIN, password, OTP or BVN through a link.”

He acknowledged that Nigerian banks had been working to improve fraud detection alongside regulatory measures from the Central Bank of Nigeria, but said those efforts alone were not enough without active customer vigilance.

Six steps ACAMB wants bank customers to take

ACAMB outlined six precautions for Nigerians using digital banking services. Do not click links in unsolicited messages asking you to verify, reactivate or secure your bank account. Never disclose your PIN, password, one-time password, card verification value or BVN in response to any suspicious request. Always confirm requests with your bank through its official mobile app, verified social media accounts or published customer service numbers. Stay alert to fake bank alerts, cloned websites and accounts pretending to represent financial institutions. Contact your bank immediately if you receive a suspicious message or notice unusual activity on your account. If you have already entered your banking details on a suspicious site, call your bank immediately to secure your account and block any affected cards.

Recent security incidents sharpen concerns

The warning comes against a backdrop of recent security incidents. In June, Wema Bank suspended its activity on X after reports of more than 70 fake accounts impersonating the bank and its ALAT platform. In August, Zenith Bank disclosed that it was investigating unauthorised access to customer data linked to a global cyberattack.

Separately, cryptocurrency exchange Binance disclosed a major security breach in which hackers reportedly stole about $6.3bn in digital assets, in what could rank as the largest theft of its kind in history. The exchange, the world's biggest by assets under management, announced on Thursday, October 29, that it had suspended deposits and withdrawals while working to contain the damage. Binance said about $3bn of the stolen funds had already been frozen and that it would cover all remaining losses.

For Nigerian bank customers, the message is simple. Fraud alerts can look genuine, but no lender should ask for a PIN, OTP, password or BVN through a link.