Banks have cautioned customers to remain vigilant against fraud during the festive season.

The alerts, shared through emails and social media posts, urged customers to exercise extra care throughout the Yuletide period.

According to cybersecurity firm PhishMe Cofense, scam activities typically surge during holidays due to increased end-of-year transactions and engagements.

Fraudsters often impersonate trusted organisations or contacts, using emails or messages to trick victims into clicking malicious links, disclosing sensitive information, or downloading malware.

Warning customers against falling for fraudsters’ schemes, FirstBank said in an email to its customers that it has observed new and emerging fraud trends.

“We have observed new fraud trends targeting mobile apps, mobile wallets and USSD banking channels. Fraudsters use social engineering and fake apps to steal your banking codes while claiming to offer you some kind of assistance,” said the lender.

Advising its customers to stay safe, the bank said, “Never share your OTP, PIN or account details, not even with someone claiming to help you. Install apps only from official stores (Google Play Store, Apple App Store).

“Avoid apps that ask to read your SMS or notifications without a clear, reasonable and justifiable reason (for example, visa/immigration assistance, school application, giveaways, etc.).

“Keep your phone secure: Use a strong password or biometric lock. Update your phone regularly. Do not share your device with strangers. Report suspicious activity immediately to [email protected].”

Meanwhile, Sanbic IBTC Bank, in a social media post, warned its customers to “Stay cyber-safe this festive season. Scammers become more active during the holidays. Stay alert and protect your account. Please note that we will never ask you to send funds in exchange for any service or request your One Time Password, password, or PIN. Do not click on any link in any email, text, or social media message from an unknown or suspicious source. It is safer to always confirm the authenticity of any message.”

Union Bank noted, “Don’t let fraudsters steal your Christmas joy! Stay vigilant, verify before you take action and keep your money safe this festive season. Remember, Union Bank will NEVER ask for your OTP, PIN, NIN, BVN, ATM card details or any personal information. Don’t trust messages that look too good to be true. Verify messages via our official channels, never click on unknown links or share sensitive banking details, and use only official channels.”

United Bank for Africa cautioned its customers that fraudsters do not take a holiday. “Tis the season for joy – not regrets. Stay sharp, stay protected and always verify before you engage. Keep your account safe this season by staying alert to scammers.” Seeking collaboration with its customers, the bank said, “Help us fight fraud. Report any suspicious activities immediately by calling our Fraud Help Desk.”