Fidelity Bank Mobile App Money Withdrawal Fraud (How they do it plus audio)

This financial literacy news covers the ongoing Fidelity Bank Mobile App Money Withdrawal Fraud and how the criminals carry it out to help the public stay safe while using the mobile banking app of the bank and other banks they operate an account with.

Information reaching Ghana Education News shows that Fidelity Bank Ghana’s mobile banking app and official short code sending numbers have been hacked.

However, information available from reliable sources at Fidelity Bank revealed that the bank’s systems have remained safe and secured and have not been hacked as is being circulated in the audio and video making rounds on social media.

Again, several suspects have been picked up in the past months and sued for attempting to break into the bank’s security systems.

Again, the Fidelity Bank system and the shortcode for Mobile App users have not been breached by the activities of these crime-minded individuals. Thus, the bank’s systems and security protocols remain intact and safe for customers of the bank and the public.

Fidelity Bank Mobile App Money Withdrawal Fraud: How they Do It

The fraudsters attempt to hack into the Fidelity Bank shortcode system.  They’re able to use the official Fidelity Bank short code to reach customers of the bank.

This will make it impossible for customers to detect fraud.

The number used according to the audio happens to be the official number used by Fidelity Bank to update its customers about fraudulent activities.

The criminals send a text to customers to update their OTP. An OTP is a One Time Password. It serves as a temporary, secure PIN code sent to you via SMS or e-mail that is valid only for one session.

Once they send the text asking you to update your OTP and you successfully do it, they can transfer money from your account.

The fraudsters also call the unsuspecting Fidelity Bank clients using an official Fidelity bank phone number.

The fraudsters help you to go into your mobile banking system and assist you to change your password.

Moments after changing the password, the Fidelity Bank mobile app fraudsters gain access to your account via the mobile app and withdraw your money.

The money stolen is moved into several other accounts before they finally cash out.

This makes it difficult to trace such illegal transactions among others.

Revelations on the Fidelity Bank Mobile App Money Withdrawal Fraud by two arrested fraudsters.

READ: 53% of Fraud cases in banks involve staff as banks lose GH¢ 61m to fraud: BoG

In a video sighted by our outfit, two suspects arrested by the Ghana Police explained some of their mode of operations and named other persons engaged in the Fidelity Bank mobile app money withdrawal scam across the country.

One of the fraudsters who was named as “Chilling” in the video indicated that the only way Fidelity Bank can halt the current fraud activity by scammers is for the app to be destroyed or taken off the Google Play Store.

He added that there were so many persons engaged in the practice in Assin Foso. Names of persons involved who were disclosed include one Gino, Stanza, Perlous in Kumasi, Ziki and Propers in Kumasi, and one Emmanuel Sim also in Kumasi. Others named were one Stanza and another Anokye who all belong to different gangs. These were a few of the many persons identified as being engaged in the Fidelity Bank mobile app fraud.

The mobile app must be deactivated or destroyed to stop the fraud, Chilling, one of the arrested revealed.

Fidelity Bank Ghana customers and all persons using mobile apps provided by their banks need to be very careful.

Again, the bank needs to move the security of its banking assets such as the mobile app an inch higher and ensure the security of customers’ accounts and funds is guaranteed and preserved.

Listen to an audio explaining how the fraud is carried out

Source: Ghana Education News

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