By Hajara Bisola Abdullahi

As digital transactions become more common in Nigeria, the risk of cyber threats, particularly card theft, is rising.

Here are eight key points to help you understand and protect yourself from cyber fraud:

1. What is Cyber Fraud?

Cyber fraud involves criminals using the internet or phones to trick or steal from you. It’s like traditional fraud but happens online. Common examples include phishing, skimming, and malware attacks. Understanding cyber fraud is the first step to protecting yourself.

2. What is Cybersecurity?

Cybersecurity is protecting your devices, data, and online accounts from cybercriminals. Think of it as a digital lock, alarm system, and guard dog for your online life. It’s essential for safeguarding your finances and personal information.

3. How Card Theft Happens

Cybercriminals use various methods to steal card information:

– Phishing: Fake emails, texts, or social media messages trick you into revealing card details.

– Skimming: Devices on ATMs or POS terminals capture your card data.

– Malware: Harmful software steals your passwords and card details.

– Data Breaches: Hackers access large databases to steal customer information.

– Online Fraud: Fake websites or shops trick you into entering card details.

4. How to Protect Yourself

Here are practical steps to stay safe:

– Be cautious of suspicious messages: Never share personal information via email, text, or call.

– Use strong passwords: Create unique, complex passwords for online accounts.

– Secure your devices: Install antivirus software and keep it updated.

– Check ATMs and POS terminals: Look for signs of tampering before use.

– Monitor your accounts: Regularly review bank statements and set up transaction alerts.

– Shop safely online: Use reputable websites with secure payment gateways.

– Enable two-factor authentication (2FA): Add an extra layer of security to your accounts.

– Avoid public Wi-Fi: Don’t use unsecured networks for sensitive transactions.

5. Keep Your Card Information Private 

Never share your card details, PIN, or CVV with anyone. Avoid writing down or storing this information insecurely. Always ensure your bank has your updated contact information to notify you of suspicious activity.

6. What to Do if Your Card is Stolen 

If you suspect card theft, act quickly:

– Contact your bank: Report the theft and block your card immediately.

– Change your passwords: Update passwords for banking and other critical accounts.

– Monitor your accounts: Watch for unauthorized transactions.

– Report to authorities: Notify the police and cybercrime agencies.

– File a dispute: If unauthorized transactions occur, work with your bank to recover funds.

7. The Role of Awareness

Staying informed about cyber threats is crucial. Regularly educate yourself on the latest scams and security practices. Knowledge is your best defense against cybercriminals.

8. Conclusion: Shared Responsibility  

Protecting yourself from card theft is a shared responsibility. By practicing safe online habits, staying vigilant, and using the tools available, you can reduce your risk and enjoy the convenience of digital transactions without compromising your security.

In a rapidly digitizing Nigeria, cybersecurity awareness is more important than ever. Stay informed, stay safe, and protect your digital life.

Hajara Bisola Abdullahi is a computer science graduate. She can be contacted on bisolahajarat7@gmail.com

The post Eight Things to Know About Cybersecurity in Nigeria: Staying Safe in a Digital World appeared first on Tech Digest News.

By Abbas Badmus

Guaranty Trust Bank, one of the leading financial institutions in Nigeria, recently faced a significant challenge as a technical glitch disrupted its operations, causing distress among customers and tarnishing the bank’s reputation.

The glitch, Tech Digest gathered, led to severe disruptions in customer transactions, ranging from online banking to ATM withdrawals, affecting thousands of customers across the nation.

GT Bank has been renowned for its efficient and reliable banking services, leveraging technology to provide seamless transactions to its customers.

However, the recent glitch brought its operations to a standstill, leaving customers stranded and frustrated. The technical problem affected various channels, including online banking platforms, mobile banking apps, ATM networks, and point-of-sale terminals.

The exact cause of the glitch has not been officially disclosed by GT Bank, at the time of going to press.

However, industry experts such as Arthur Ekene attributed it to system upgrades, software bugs or infrastructure issues.

“The complexity of modern banking systems, coupled with the reliance on interconnected networks, increases the likelihood of such glitches occurring,” Ekene said.

The disruption in GT Bank’s services had profound implications for its customers. Many were unable to access their accounts, make transactions, or perform essential banking activities for several days.

This resulted in inconvenience, financial losses, and heightened anxiety among account holders. Some customers reported missed bill payments, delayed salary deposits, and failed business transactions, exacerbating their frustrations.

TechDigest reached out to some GT Bank customers who narrated their bad experiences.

Mr Idris Umar Feta told Tech Digest that he made a POS payment of N12,000 on Wednesday, 6 April 2024, to a Zenith account.

He said: “The transaction showed decline and my account was debited to the said amount. I waited for 24 hours to see if the transaction will be reversed, until now the said transaction wasn’t reversed”.

Another Customer, Nurudeen Ariyo said: “I can’t access my Bank App for a few days now, and am trying to use USSD code but is not working as well”.

Reacting, GT Bank issued a public statement acknowledging the technical glitch. It also apologized for the inconvenience the glitch caused to its customers.

The bank assured its customers that its technical teams were working round the clock to resolve the issue and restore normalcy to its operations.

However, the lack of timely updates and transparency from the bank added to customers’ frustration and eroded trust in the institution.

Indeed, the technical glitch not only disrupted GT Bank’s operations in the short term, but also raised concerns about the robustness of its infrastructure and the reliability of its systems.

Customers may reconsider their loyalty to the bank and explore alternative banking options that prioritize stability and security.

Moreover, the incident underscores the importance of proactive risk management and contingency planning in the banking industry.

The recent glitch experienced by GT Bank serves as a stark reminder of the vulnerabilities inherent in modern banking systems.

While the bank has made efforts to address the immediate impact of the disruption, restoring customer trust and confidence will require ongoing transparency, communication, and investment in technology infrastructure.

Moving forward, GT Bank must prioritize resilience and reliability to prevent similar incidents and safeguard its reputation in the highly competitive banking landscape.

The post FEATURE: How Technical Glitch Ruined GTBank Customers’ Transactions for Days appeared first on Tech Digest News.