ONE of Nigeria’s top-tier banks, Access Bank, has raised the alarm over plans by fraudsters to gain access to customers’ phones to access funds in their accounts.
In a message to customers on Wednesday, 14 June 2023, the bank told its customers to lock Subscriber Identification Modules (SIMs) in their phones as criminals do not target users’ phones but their SIM cards to gain access to their bank details.
Access Bank provides tips to lock SIM and accounts.
The bank said: “Fraudsters are not after your phone, but they want your SIM. Information stored on your phone can easily be accessed, and unauthorised transfers, loan requests, and airtime purchases can be done using your SIM.”
The bank said locking SIM cards will give customers time to protect their accounts if their phones are stolen.
The bank went on to tell Android and iOS users how to lock their SIM cards. Access Bank posts its first robust profit in 10 years.
Meanwhile, Access Holdings, the parent company of Access Bank, registered some of the most robust growth in revenue in 10 years at about 42% to hit a gross income of N1.8 trillion, the first bank in Nigeria to hit the N1 trillion mark in gross income.
Access Bank’s10-year record growth in revenue follows the first profit drop in five years, with after-tax profit declining by 5% to N152 billion, reflecting a significant loss of profit margin from 16.4% IN 2021 to 9% in 2022.
Access Bank’s audited financial report for the year ended December indicates that the jump in incomes represents about N416 billion added to the vast revenue pool of the holding firm in the year.
Eighteen-Eleven Media