There is an alarming rise in social engineering threats in Nigeria that target everyone irrespective of status or class. These scams are on the rise from phone calls requesting confidential information, to fraudulent text messages and social media account hacks. Scammers exploit our trust, fear, and ignorance, tricking victims into exposing pins and passwords. Tackling social engineering has never been more important, especially given Nigeria’s growing digital adoptions.
What is Social Engineering?
Social engineering is the practice of manipulating people into disclosing confidential information. The information these criminals seek varies. However, when individuals are targeted, the criminals usually try to trick you into giving them your passwords or banking information.
Nigeria faces different kind of social engineering scams which are discussed below:
Fraudulent Phone Calls:
Phone calling is one of the most prevalent common mediums through which fraudsters contact their victims. This method has been utilized frequently as a way of hacking mobile banking accounts and social media accounts. The caller can impersonate bank officials or friends asking for code or OTP (One Time Password) sent to the victim phones or email address.
Phishing Text Messages:
Scammer craft well-written messages to trick unsuspecting victim into clicking on a link to update bank information or resolve an issue that does not exist. Such messages usually include links to other websites that are designed to trick the visitor into disclosing login or financial information.
3. Social Media Hacks: Scammers hack into the social media account of unsuspecting victims taking advantage of weak password practices by the account owners. They impersonate the victims by asking unsuspecting friends and followers for money urgently. The scammers can also leak private messages with the aim of causing damage to the reputation of their victims.
Why Nigerians Are Vulnerable
With an increasing usage of internet and mobile phone, Nigeria has become a big target for social engineering attacks. While it’s no secret that scammers use many different tactics to take advantage of individuals, yet few people know how this scam works because digital literacy is not wide spread. With more and more people leaning on mobile phones for banking, communication and business activities, scammers are given additional opportunities to exploit unsuspecting Nigerians. Also, Nigerians are known to be social, friendly and trusting. Scammers take advantage of this by pretending to be friends, family members, and trusted associates to trick unsuspecting relatives to send money after successfully taking over the victim social media accounts.
How Social Engineering Affects Nigerians
The impact of social engineering scams can be devastating:
Financial Losses:
The victims are defrauded of their hard-earned money through fraudulent, unauthorized transactions or fake investment scams leaving most victims with no savings. These lost funds can sometimes be very difficult for the bank to retrieve, leaving the victim with regret.
Compromised Privacy:
When account information are exposed, the victims become prone to subsequent exploitation. Private data leaks can have severe lifelong consequences on the victims.
Reputational Damage:
If social media accounts of people are stolen, hackers can use them to defraud other people thereby ruining the victim’s reputation. It can damage personal relationships but even more the credibility of the individual or business that depend on the social platforms.
How To Protecting Yourself Against Social Engineering Scams
Be Cautious of Unsolicited Calls and Messages:
Always question unexpected callers, texts or emails which ask for sensitive information. It is worthwhile noting that banks and businesses will never ask you to give them your passwords or OTPs.
Verify Before Sharing Information:
Verify the identity of anyone claiming to be from your bank, telecom provider, or any other company by calling the official customer support number. Never trust the contact information that the caller has provided.
Secure Your Social Media Accounts:
Passwords for social media accounts should be strong and unique, and two factor authentication (2FA) should always be enabled. Also, under no circumstances should you click on links or attempt to log in directly into your email, or online account from a text message you receive.
Educate Yourself and Others:
Learn how scams operate and share this knowledge with friends and family. Awareness is the first line of defense. Empowering others with this knowledge creates a community that is collectively vigilant against social engineering threats.
Pause Before You Act:
Scammers create urgency to make you act quickly. Always take a moment to think and verify before responding to any requests. This simple habit can prevent impulsive actions that scammers rely on.
Avoid Sharing Personal Details Online:
Do not disclose your phone number, address or any other personal details on your social media accounts. The more information scammers know about you, the more easily they may manipulate you.
