6 WAYS YOUR BANK ACCOUNT CAN BE HACKED

6 WAYS YOUR BANK ACCOUNT CAN BE HACKED

With current attempts by fraudsters to access people’s bank accounts through text messages, emails, phone calls etc., it is important we are armed with the knowledge of the different ways our bank accounts can be hacked by these fraudsters. This will help us better discern their gimmicks, avoid their traps and keep our money safe.

Jumia Travel reveals 6 ways your bank account can be hacked.

TRUSTING SUSPICIOUS EMAILS, TEXT MESSAGES AND PHONE CALLS

In 2015, Babatunde Fatai, a young man arrested by the Oyo State Police command for various internet crimes including hacking into bank accounts of people in and outside Nigeria, revealed that to hack into bank accounts he would either go to dating sites to woo men and women into trusting him with their account details, or he would send fake emails to bank customers asking them to change their accounts and bank security details. Fatai will then use their ‘old’ security details to access their accounts and transfer their money to his online lovers, for these lovers to transfer back to him through another means.

You should be alert to suspicious emails, especially those that come with promotions from banks giving links you should click. Check the email ID or address and compare with the bank’s official email to see if anything is off (that is, to see if it’s an unofficial or copycat account). Most importantly, always call your bank to confirm any suspicious email before you reply.

TRUSTING SUSPICIOUS TEXT MESSAGES AND PHONE CALLS

As you should be careful with emails, so should you also be careful with text messages and phone calls.

Text messages about your account being blocked because of your BVN and instructing you to call another number to activate; phone calls from strange numbers (numbers different from your bank’s customer care numbers) asking you to disclose your bank’s details especially when you did not previously log a complaint with your bank about any issue related to what is being asked of you, amongst many others, should all be confirmed before responding to them.

Use your bank’s helpline and if you can, go to a nearest bank branch to confirm. The cost of not confirming is most times far more than the cost of confirming. Don’t be quick to share sensitive bank details through any means, no matter how genuine it seems.

SOCIAL MEDIA PROFILES

Some hackers get personal information such as your name, date of birth, email and phone number off your social media accounts. With this basic information, a sophisticated hacker can get past other options to change your pin and access your account.

If you use Internet Banking, it is advisable you edit your social media profiles, especially Facebook profiles. If you must leave your day and month of birth, delete your birth year, delete phone numbers you put there that are connected to your bank account and use ones that are not linked to your bank account. For your name, you don’t have to put your full name, especially the one your bank recognizes, on your profile. Your first and last name, or simply a username or nickname is fine.

UNENCRYPTED WEBSITES

According to the Telegraph, you should never shop or log in to online banking when the web address does not begin with “https” or without a lock sign displayed on the address bar.

For an added layer of security, check the online banking security options your bank provides such as free antivirus and browser security software. Ensure that your computer is protected by “firewall” software. Also, browsers (especially Google Chrome and Mozilla Firefox) often come with built-in security features. Make sure they are activated.

WEAK PASSWORDS

Especially for those who use Internet Banking, weak passwords make it easy for hackers to crack your passcode and access your account. Strong and unique passwords that are long, random and made up of different cases, numbers, letters and symbols are the best.

CHEQUE BOOKS AND ACCOUNT NUMBERS

Afam Nriezedi, along with his syndicate members, was arrested in 2015 by detectives attached to the Special Anti-Robbery squad of the Lagos State Police Command for hacking into Nigerian banks with the assistance of bankers and domestic servants.

To hack bank accounts, someone (a domestic servant or relative from the house of the victim) will bring a leaf from the cheque book of the victim to them. The leaf most times isn’t signed but contains the victim’s account number. With the account number, details of the victim’s name, phone number, email, house and work address including the victim’s account balance can be gotten, once they contact an insider in the bank they need the information from. Getting the insider usually isn’t easy but because it is a syndicate, it’s all about the effort and teamwork.

Their next step is to get a copy of the signature of the victim provided most times by the insider in the victim’s home. The cheque is taken to Mushin where the signature is forged and the amount they intend to steal is written. Most times, they don’t use e-banking to transfer the money but withdraw it upfront (usually using an amount that is possible to withdraw upfront). They never go the branch of their insider to do this.

It is important to be careful and restrict access to your cheque book. Also, don’t be careless with your account numbers and emails, phone numbers and addresses linked to your account number. From time to time, check your cheque book to confirm there is no missing page. Also monitor text messages and emails sent to you by your bank to be sure transactions you did not authorize have not occurred.

Learn, be careful and wise with those get rich quick human elements in around us.

Thank you.

5 Reasons Why The Igbo Man Succeeds In Business

5 Reasons Why The Igbo Man Succeeds In Business

I did not witness the Nigerian Civil war (1968-1970) because I was not born by that time, but I have read a lot about it in addition to listening to eye witness accounts from those who were there and even fought on different sides.

The Igbos lost almost everything during the war. They abandoned their businesses and properties outside Igbo land and moved home for safety as they became easy targets for mischief makers. These assets were mostly forfeited, confiscated or hijacked. This was the era when the term “Abandoned Property” became popular and real.

After the war, they were further subjected to financial and economic hardship, as their bank accounts were credited with a flat rate of 20 pounds irrespective of the volume of Biafra pounds in those accounts, effectively rendering them penniless.

This happened almost fifty years ago, as today the Igbos have moved on with their lives conquering the Nigerian business environment and building large business empires for themselves. Everywhere in Nigeria today, you will find very successful Igbo business men and women making the country proud in their various entrepreneurial pursuits.

How did they do it despite all the setback and challenges?. These should be some of the reasons why they have become a phenomenon in entrepreneurship.

Courage: The average Igbo is very courageous and ready to surmount every challenge in the pursuit of anything he sets out to accomplish. They are also very adventurous and ready to relocate to new places despite the inherent risks, as long as they can see opportunities. There is probably at least one Igbo man or woman in every country in the world.

Resilience: They focus on opportunities and ignore challenges, this makes them very tough and flexible. The Igbo man will nurture his small business painstakingly taking risks and experimenting and innovating with different strategies until the business begins to boom and flourish.

Creativity: I read accounts of how the Igbos improvised and created their tanks and refineries during the civil war. Today the likes of Innocent Chukwuma of Innoson Industries are building cars and fabricating spare parts for the Nigerian Air force. If you still have doubts about the Igboman’s creativity then visit Nnewi and Aba to see how all types of machinery are fabricated.

Support system: The have a way of rallying round each other to ensure that their successes are multiplied. You will find all types of Igbo unions, clubs and associations in every city in this country; and even in most countries of the world. They have gone a step further to install Igbo traditional rulers outside their ancestral homes (eg. Eze Ndigbo of Lagos), who will govern their affairs and mediate in crises situations.

Apprentice System: Success in Entrepreneurship requires knowledge, mentorship and capital. The Igbos developed their own home grown system of entrepreneurship. This unique form of apprenticeship allows a male family member or community member to spend time and work with another family. During this period, the apprentice will learn the trade of his master and would also receive mentorship. At the end of the agreed period, the master will establish his apprentice; either by setting up a separate business for him, or giving him money or tools to earn a living. This system has helped to spread wealth from the rich to poor in Igbo communities; and many of the big Igbo business men of today went through this system. The likes of Mr Innocent Chukwumma of Innoson Motors, Mr Cosmas Maduka of Coscharis Motors and Chief Alex Chika Okafor of A-Z petroleum are all beneficiaries of this system.