Safety Alert: How to Spot Fake Bank Alerts

As digital payments become more popular in Badagry, so do the tactics of fraudsters. One of the most common scams currently plaguing small business owners is the "fake bank alert." This occurs when a customer claims to have made a transfer and shows you a debit alert on their phone, or you receive an SMS that looks like a credit alert, but the money never hits your account.

How the Scam Works

Scammers use specialized apps to generate fake SMS alerts that look exactly like those from major Nigerian banks. They may also manipulate the "successful transaction" screen on their own banking app. If you release the goods based on this fake evidence, you lose both your product and your money.

How to Protect Yourself

1. Don't Trust the SMS Alone

Never release goods based solely on an SMS alert, even if it appears to come from your bank. SMS messages can be spoofed (faked). Always log in to your own bank app or use USSD code to confirm your account balance.

2. Check the Sender ID

While scammers can spoof sender IDs, sometimes they make mistakes. Check if the message comes from a personal phone number instead of the official bank name. However, remember that even the official name can be faked.

3. Wait for Confirmation

It might be awkward to make a customer wait, but it is better to be safe than sorry. Politely explain that it is company policy to confirm receipt of funds before releasing items. Genuine customers will understand.