Wema Bank has warned customers against downloading fake mobile applications disguised as legitimate services, saying cybercriminals are increasingly using them to steal banking credentials and carry out unauthorised transactions. The bank said fraudsters are circulating malicious apps through fake advertisements and pop up prompts on social media, websites, emails and messaging platforms.
According to the bank, the fraudulent applications are often presented as sports betting, live score, streaming, utility, banking support or phone update apps. Once installed, the malware can gain access to users’ mobile devices, steal banking details and transaction PINs, intercept one time passwords and SMS messages, and initiate fraudulent transactions through victims’ mobile banking accounts.
Wema Bank advised customers to download applications only from trusted sources such as the Google Play Store and Apple App Store and to avoid installing apps through links or pop up advertisements. It also urged users to be wary of unexpected requests for software updates or security verification and to regularly review and remove unfamiliar applications from their devices.
The bank further advised customers who notice suspicious activity to disconnect their devices from the internet immediately, contact the bank and report the incident. It also encouraged individuals and financial institutions to report suspected phishing attempts and spam messages to their fraud or information security teams to strengthen efforts against cybercrime.