Big thumbs up to the Nigerian Banking sector for the introduction and implementation of the Bank Verification Number, BVN, policy that is expected to inject more security to depositors funds in the financial sector through proper identification. The BVN has, however, thrown up another unique type of online security challenge.
This is to inform you that in the days, weeks and months ahead, you will start hearing about BVN related scams; yes, Welcome to the Era of Identity theft – well! sort off. Rather than wish it away, here are some safety tips you need to apply when it comes to securing your BVN from the prying reach of online fraudsters.
1. Avoid Sharing your BVN online!
If you ask me, I will say that, not for any reason, under any guise in the world, should you share your BVN online. If it now becomes imperative that you share it on a website, make sure that you share it on a website that you are super sure of. Make sure, for instance, that the url of the website is secured, showing https.
2. Ignore completely, any Email asking you for your BVN!
The truth is that those kinds of mails will start hitting your emails soon, that is, if they have not started coming. Note that no serious organisation will ask you for your BVN via email. When you receive such mails, please ignore them completely.
3. Avoid Clicking on Links in the mails you receive!
Another trick you will encounter is a fake website that will want to trick you into dropping your BVN. It might ask you to fill a form, stating that you may lose your accounts within X number of hours if you fail to click on a link on the mail to confirm your BVN! Do no panic and click on the link. The banks have repeatedly sensitised depositors that on no account will they request them for their BVN via email or any electronic means for that matter.What should you do? Just close the website and walk away.
4. Finally, password-protect your phone. Why is this a point? Well, because the banks have added a USSD option that makes it possible for you to check your BVN, so, if you decide to leave your phone open, then, know that it could get into the wrong hand. This may lead to your Bank Account being compromised.
Let me share this with you. Recently, a training event organisers included on the list of their requirements that all participants should send their BVN. This did not make sense to me. Why would a training outfit be requesting for the BVN of participants?
For me, the rule is simple and I will like you to consider adopting it too:
I will not give out my BVN to any other person or entity outside a well recognized financial institution and I will not even save my BVN on my phone book either!
More safety tips on BVN are welcome from readers here, to reduce Innocent depositor’s vulnerability to fraudsters and protect their funds.
