Tackling E-payment Fraud with Technology

Banks have continued to deploy diverse products and services to tackle e-payment frauds and keep their customers’ transactions safe. To ensure security of customers’ transactions, Access Bank Plc has deployed a tech-tool that allows its customers to deactivate Unstructured Supplementary Service Data (USSD) profile automatically and lock out fraudsters from their accounts.


As the world switched to social distancing and remote working, learning, shopping and electronic financial transactions, more opportunities have opened up for cyber criminals to prey on unsuspecting citizens and businesses.

Banks have therefore come to realise that  more people will adopt e-payment channels that are safe and secured for their transactions.

That explains why many lenders are prioritizing bank account protection and provision of right information to customers for the safety of their  transactions.  

Banks are also making more investments in technology and replacing e-payment users’ fears on adopting digital channels with confidence in their products and services.

Access Bank Plc is therefore seeking best-in-class ways to safeguard the resources of its customers and sustain their confidence in its operations.

To achieve this, the bank has introduced the *901*911# USSD code, a solution that allows customers act swiftly to prevent fraudulent activities on their accounts.

According to the bank, the service allows customers of all account types to deactivate a USSD profile simply by dialing *901*911# from any phone, inputting the registered phone number for the account to be protected and this automatically locks out fraudsters from the individual’s account.

Besides, over the years, Access Bank has remained committed to educating its customers, informing and protecting them from fraudsters.

“We have created dedicated pages on our official website that constantly update customers on the schemes fraudsters employ to defraud them while bringing to public notice the quickest platforms to access help in the event of any suspected fraud case. In our promise to offer customers more than banking, we have not wavered in our drive to not only deliver speedy services but also security for all, the bank assured.

Besides, Access Bank’s customers can report any suspected fraudulent activity immediately to the bank’s dedicated fraud desk or by calling  its helpline.

Group Managing Director/CEO Access Bank Plc, Herbert Wigwe said the lender would continue to reposition its operations and payment platforms  to  serve more customers in Nigeria and across Africa.

He said the Access Bank Group has over time, delivered growth and created value to its customers. The bank has  large customer base in Africa, with a significant share of digitally active clients.

“The bank is becoming an aggregator in Africa by building a global payments gateway, offering holistic trade finance support and offering correspondent banking services.

It is also focusing on key markets to support regional trade by targeting new opportunity markets and positioning as a trade and payments gateway to the world,” he said.



About The Author

Related posts