Banks Alert Customers to Rising Holiday Fraud Risks

Commercial banks have issued fresh warnings to customers, urging heightened vigilance as fraudulent activities typically increase during festive periods.

Financial institutions noted that scammers often exploit holiday distractions to target unsuspecting victims through fake emails, messages and malicious mobile applications designed to steal personal and banking information.

Several banks cautioned customers against sharing sensitive details such as one-time passwords, PINs and account credentials, regardless of claims made by callers or messages purporting to offer assistance.

Customers were also advised to download applications only from official app stores, avoid apps requesting unnecessary access to phone data, secure their devices with strong authentication, and promptly report suspicious transactions.

Separately, international law enforcement agencies recently announced the arrest of hundreds of cybercrime suspects across multiple African countries, alongside the recovery of millions of dollars and the dismantling of thousands of malicious online links, underscoring the scale of the threat.