The Managing Director of Moniepoint Microfinance Bank has warned Nigerians against publicly sharing their account numbers.
He made this statement during an interview with news agencies in Nigeria on Sunday, December 5th.
According to him, cybersecurity awareness is crucial to curb criminal activities and prevent imprisonments.
“My biggest advice is for people to stop publicly sharing their account numbers. Some people are in prison because they had no idea what someone used their accounts for,” Olofin said.
He further explained that fraudsters use such information to carry out their dubious activities, with innocent individuals being arrested.
Babajide emphasized the need for vigilance regarding cybercrimes and account security, noting that giveaways are often a disguise to obtain personal details.
He boldly stated that bank accounts are also part of an individual’s personal information.
“People don’t love you enough to give you giveaways, so you should know they are harvesting your details,” he said.
He went on to explain how fraudsters attract people with so-called juicy gifts and cash rewards to acquire their bank details.
“Fraudsters do a lot of things; they structure funds. They know how internal systems work,” he stated.
Babatunde also pointed out that, in some cases, victims’ identities are stolen, and their accounts are used for illegal activities.
He added that Moniepoint is collaborating with organizations such as the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC) to combat fraud and enhance the detection of fraudsters.
According to him, Moniepoint has established a transaction monitoring and anti-money laundering team with advanced internal rules to detect and prevent fraud.
“We’ve built a transaction monitoring and money laundering team that has set rules internally,” he said.
