Unity Bank unveils new USSD code to combat e-banking fraud
Unity Bank Plc has unveiled a new code on its USSD platform that completely puts the customers in control of their accounts against any e-banking fraud.
According to the bank, the new code was created to safeguard its e-banking platforms with enhanced safety and security features,
The new code which is *77999*Phone Number # allows customers to block access to their accounts, without recourse to the bank, as, it added that a customer is able to prevent and protect his or account from unauthorised access using any mobile device if fraud is suspected.
Speaking on the new anti-fraud code, the Directorate Head, E-Business, Retail & SME Banking, Mr. Funwa Akinmade said that leveraging necessary technology to protect the bank’s assets including customer’s bank account remains a top priority for the Bank in the face of rising cyber-security threats.
“As part of the robust feature of the bank’s USSD platform, customers can directly initiate the new code and successfully block the account from a third-party mobile device.
“To unblock the bank account, customers can walk into any branch of Unity Bank closest to them and request reactivation.
“As a result, customers are thus able to exercise unlimited control with the new code as the Account Blockade can be initiated from any phone to prevent any unauthorised transaction or access to the Bank Account. The blockade can also be initiated to stem risks arising from the loss of debit card or incidences of unauthorized transactions.
“This feature now offers full control to Unity Bank customers to protect themselves from scams, secure all banking transactions, and puts the customers well ahead in control of their banking transactions.
“The new anti-fraud code enhances the Bank’s robust security system to safeguard customers’ bank accounts against any form of cyber threat or incurring financial losses from fraud attempts,” Akinmade said.
According to the latest banking industry fraud report by Nigeria Inter-Bank Settlement System (NIBSS), cyber fraud rose by 534 per cent as Nigerian banks lost a total of N3.5 billion in the past year alone.
The unveiling of the new USSD code, Akinmade added, is part of Unity Bank’s strategic move to protect their customers by reducing to zero, losses from electronic banking frauds.
The *7799# code which was first introduced three years ago and enhanced with a multi-language capability has remained a critical component of the bank’s robust e-banking channels facilitating seamless and secure banking transactions.
