Illicit Transactions: FirstBank cautions customers against storing account details on mobile devices

*‘The claims by the suspect on the ease of accessing FirstBank accounts are baseless and untrue as the bank’s robust electronic banking infrastructure has been essential to ensuring the security of our customers’ accounts’ ─FBN Limited

Isola Moses | ConsumerConnect

Against the backdrop of the arrest of a gang of cybercriminals specialising in stealing Subscriber Identity Module (SIM) cards to gain unauthorised access to personal and banking details of their victims for illicit transactions on their bank accounts, First Bank of Nigeria Limited has warned its customers against storing bank and personal details on their mobile devices.

ConsumerConnect reports the financial institution in a statement issued the warning to deflate recent claims by fraudsters on the ‘relative ease’ of accessing accounts of FirstBank customers.

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The bank, however, stated fraudsters leverage details, such as Automated Teller Machine (ATM) cards, Personal Identity Numbers (PINs), account numbers, e-mail passwords, and other classified information to perpetrate their illicit activities in the country’s financial system.

Mobile phone users

While urging customers to avoid storing such vital information on mobile devices, the bank also suggested any previous numbers linked to bank accounts should be delinked for security reasons.

The bank’s statement noted: “Our attention has been drawn to the arrest of a gang of cybercriminals who specialise in stealing SIM cards to gain unauthorised access to the personal and banking details of their victims in order to carry out illicit transactions on their bank accounts.

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“The claims by the suspect on the ease of accessing FirstBank accounts are baseless and untrue as the Bank’s robust electronic banking infrastructure has been essential to ensuring the security of our customers’ accounts, irrespective of where they are across the world.”

The bank further stated: “Please avoid storing your bank and personal details such as ATM card PINs, account numbers, email passwords and other classified information on your mobile devices as these serve as sources of information used for the electronic compromise of bank accounts.

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“We advise our customers to promptly inform the Bank to delink any inactive phone numbers previously mapped to their accounts.

“In today’s global village, driven by electronic banking and business activities, it remains our collective responsibility to combat the menace of cyberfraud.”

FirstBank added: “We remain committed to expanding our electronic banking architecture towards the continued safety of the bank accounts of all our customers, whilst also ensuring your ease and convenience of carrying out all transactions, irrespective of where you are across the globe.”