Online banking is convenient — and a favourite target for fraudsters. Most hacks succeed because of human error, so good habits are your strongest defence. Here is the security playbook.
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Core Defences
- Strong, unique passwords: long passphrases, never reused.
- Two-factor authentication (2FA): app-based or hardware, not just SMS.
- Official channels only: use the bank's app/website, not links.
Phishing Awareness
Banks never ask for OTPs, PINs or full passwords by call/SMS/email. If a message pressures you, it is phishing — verify via official contact channels.
Device Hygiene
- Keep phone/OS apps updated.
- Avoid banking on public Wi-Fi or shared devices.
- Lock your phone and enable biometrics.
Monitor and React
- Enable transaction alerts.
- Review statements regularly.
- Report suspicious activity to your bank immediately.
FAQ
Is mobile banking app secure?
Yes, when updated and used with 2FA — app-based banking is generally safer than browser banking.
What should I do if my account is hacked?
Block the card/account immediately, change passwords and report to your bank's fraud line.
Related: Check Your BVN and Card PIN Safety.