In a bid to safeguard its e-banking platforms with enhanced safety and security features, Unity Bank Plc has unveiled a new code on its USSD platform that completely puts customers in control of their bank account against any e-banking fraud.
The code 77999*Phone Number # allows customers to block access to their bank accounts, hence without recourse to the bank, a customer is able to prevent and protect his bank account from unauthorised access, using any mobile device if fraud is suspected.
According to the latest banking industry fraud report by the Nigeria Inter-Bank Settlement System, 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 is, therefore, part of Unity Bank’s strategic move to protect their customers by reducing to zero, losses from electronic banking frauds.
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.
He said: “With fraud concerns on major payment channels across Nigeria, every player in the financial services industry in Nigeria must think of a way to stay ahead of its game.
“With the added USSD feature that allows customers to block their accounts using 77999*Phone Number# code, even from a third party device, we have given greater empowerment to customers to transact freely on our USSD platform. With the USSD feature, being available to both smartphone and feature phone users, it means even the least digital-savvy customers of Unity Bank can effectively use the new anti-fraud code.”