Banks across the country have raised fresh warnings to customers over the rising risk of digital fraud linked to the use of public Wi-Fi networks for banking and payment transactions, particularly during the festive season when electronic spending typically surges.In customer advisories issued ahead of Christmas and New Year celebrations, banks cautioned that fraudsters are increasingly exploiting unsecured public internet networks in places such as airports, hotels, shopping malls and restaurants to gain unauthorised access to bank accounts.
Access Bank, one of Nigeria’s largest banks, over the weekend, via emails, alerted customers that the holiday period remains a prime window for cybercriminals seeking to harvest sensitive financial information through compromised networks.“The festive season is here and there is no better time to keep your account safe. Please do not share your PIN, OTP, CVV, or full card number with anyone no matter how tempting the offer is. Verify transaction alerts via the Accessmore app and avoid using public Wi-fi for banking transactions”, the bank stated.
According to cybersecurity experts, public Wi-Fi networks can allow attackers to deploy techniques such as “man-in-the-middle” attacks, where fraudsters intercept communications between users and banking platforms, potentially stealing login credentials or transaction details.“The festive season is here and there is no better time to keep your account safe. Please do not share your PIN, OTP, CVV, or full card number with anyone no matter how tempting the offer is. Verify transaction alerts via the Accessmore app and avoid using public Wi-fi for banking transactions”, the bank stated.
According to cybersecurity experts, public Wi-Fi networks can allow attackers to deploy techniques such as “man-in-the-middle” attacks, where fraudsters intercept communications between users and banking platforms, potentially stealing login credentials or transaction details.Access Bank advised customers to verify all transaction alerts through its AccessMore app and to act swiftly if suspicious activity is detected. “Block your account immediately by dialing *901*911# or chat with us via the LiveChat icon on AccessMore if you suspect your account has been compromised,” it said.
Other banks are also reinforcing similar messages, urging customers to rely on secure mobile data or trusted private networks for financial transactions, while avoiding links, offers or messages that promise unusually high returns or urgent payment requests.
As digital payments continue to dominate Nigeria’s retail and commercial transactions, banks say vigilance will be key to preventing festive cheer from turning into financial loss. For customers, banks stress that caution, verification and restraint, especially on unsecured networks, remain the most effective safeguards against fraud.
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