![]() ![]() 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”. “With the added USSD feature that allows customers to block their accounts using *7799*9*Phone Number#code, even from a third party device, we have given greater empowerment to customers to transact freely on our USSD platform. 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”. Speaking on the new anti-fraud code, the Directorate Head, E-Business, Retail & SME Banking, 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. The *7799# code which was 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. 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. 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.Īccording to the latest banking industry fraud report by Nigeria Inter-Bank Settlement System, cyber fraud rose by 534% as Nigerian banks lost a total of N3.5 billion in the past year alone. ![]()
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