The Economic and Financial Crimes Commission (EFCC) has issued a warning to the public, urging increased vigilance to protect personal and business bank accounts from rising incidents of bank fraud. This alert comes amid ongoing efforts by Nigerian banks, including UBA, Access Bank, and Zenith Bank, to sensitize customers about potential fraud schemes.

The EFCC highlighted several common types of bank fraud, including: Accounting fraud, which involves misrepresenting a bank's financial position through manipulation or misappropriation of funds; Forgery and altered checks, where fraudsters alter or forge checks to gain unauthorized access to funds; Fraudulent loan applications, where individuals submit false information to obtain loans they aren't eligible for; Identity theft and impersonation, where hackers gain access to personal information to exploit bank accounts; Money laundering, which involves concealing the source of illegally obtained money through various means.

In response to these threats, major banks such as Zenith Bank, UBA, and Access Bank have advised their customers to remain vigilant and proactive. They urge customers to report any suspicious activity promptly through dedicated emergency lines or email. UBA provides the email address [email protected] and the phone numbers +2347002255822 and +2348002255822 for reporting suspicious activities.

Access Bank has specifically addressed the growing threat of vishing (voice phishing), cautioning customers against divulging personal information over the phone. The bank advises customers to verify the caller’s identity by contacting the organization directly through its official website. Access Bank emphasizes that it will never ask for sensitive details like card numbers, passwords, PINs, CVVs, BVNs, or OTPs. Customers are urged to report suspicious calls immediately by calling 07003000000 or emailing [email protected].

Zenith Bank has also reminded its customers of the need for caution and urged them to report any suspected fraud immediately.

In a separate operation, the EFCC's Lagos Zonal Directorate 1 arrested 120 suspected internet fraudsters, comprising 95 males and 25 females, at various locations in Lagos on Monday, May 19, 2025. This operation followed credible intelligence and thorough surveillance regarding their alleged involvement in internet-related fraud. Items recovered during the coordinated operation include 26 exotic cars, expensive jewelry, smartphones, laptops, and several incriminating documents. EFCC spokesperson Dele Oyewale said the suspects are currently undergoing investigation and will be arraigned in court upon the conclusion of the investigation.