How to avoid virtual bank apps hack when phone got stolen or misplaced

[Gozie51]

How to prevent this from happening:
1. Make sure that your sim card is pin protected, this way it will be difficult to get access to your Sim when the phone is on, even if they are able to unlock the phone, the sim will remain locked and that gives you the advantage of making sure that your mobile wallet remains inaccessible.

Men I think say na the idea of using separate phone as SmartCharpa talk go work pass because when those guys request for OTP to do anything from your phone and it is sent to a different phone that is not in their custody that means all their labour and wicked effort to collect your money no go work. This is even clear to see as you even dey use am for your house when you get two phones as alert dey come to another phone different from the one you use request. This na a nice security check already. So we go try no dey comot with all our phones at same time. Like if we want to go out and we want to do some transaction for the place we dey go, we fit do am finish before we begin comot with only one phone.

2. Make sure to always password your phone, some phones are easily jail break but it is better than not having anything at all, this can give you time to do a welcome back before they get access to the phone.

Password good for phone and sim even to lock our messages but I been dey discuss with some guys wey dey do tech things and how to unlock phones without having the password apart from flashing the phone because if you flash am that means you go lose everything on the phone, meaning say you no go see anything wey you dey look for. The guy say e still dey possible for yahoo guys to unlucky your phone without your password, say some dey use application untop the phone self and dem go bypass the password and get access inside the phone. The guy say whether na windows 10 abi 11 dem dey use for that kind work but say na only iphone dem no dey fit access without password. Anyway, me I no no though but I no still know if dat kind windows 10 abi 11 go still fit access sim wey dem luck.

3. Always have less money on this virtual app to protect yourself from this kind of emergency, this can help you in case the banks try to run away because there has been a lack of transparency from them, especially Opay and Kuda.

Stay safe, stay healthy.

This one we no need to talk am twice because them no dey tell blind make say war don start. Blind man no deff so him go hear gun shots. Push your money away from all these new payment platforms. In fact, they can be scammed self as far as I can think but at least if your money dey for bank or btc, you just have to take responsibility of your own

Well the thing be say we ourselves need to dey security conscious, make we just dey careful. Use different phone for app and OTP, Log out email, apps or any other stuff,  Go out with one.

Op your thread make sense.

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[Nheer]

It's not new to us that the rate at which everyone uses banking Apps on their phone has grown rapidly due to the recent spike in digital banking like Opay, Palmpay, Kuda, Moniepoint and other related micro banks and this is due to their fast transaction unlike the commercial banks that sometimes delay payment, these banks save you when you want to make fast local transaction without having to wait, they are pretty fast and some don't charge for fees while some do but limit the free transfer you can do in every 24 hours.

This is what people like about them and even though it difficult to locate their branch we still have so much believe in them because of the small small benefits we get. They have made online banking very easy and affordable for us and that’s why we all hardly make use of any commercial bank. They have so much advantage over commercial banks that why most Nigerians have turn to them. Another reason why we avoid saving money in commercial banks is because of the unexpected deduction of our money, they will just deduct an amount without any notice or reason and without any debit alert. While using them i am still very cautious because anything can happen in Nigeria so I don’t save all my money in these digital micro finance banks.

There is a challenge with these Apps and one of them is when your phone is mislaced or stolen, the first thing they do with your phone is to find a way to unlock it if it's locked and if the phone is not passworded, they go straight to your mobile app to drain the account balance.

This is very common way people get scammed especially from these banks because they don’t provide enough security so I believe it our own duty to safe guard our assets to prevent an hack in case we misplace our devices.

How to prevent this from happening:
1. Make sure that your sim card is pin protected, this way it will be difficult to get access to your Sim when the phone is on, even if they are able to unlock the phone, the sim will remain locked and that gives you the advantage of making sure that your mobile wallet remains inaccessible.
2. Make sure to always password your phone, some phones are easily jail break but it is better than not having anything at all, this can give you time to do a welcome back before they get access to the phone.
3. Always have less money on this virtual app to protect yourself from this kind of emergency, this can help you in case the banks try to run away because there has been a lack of transparency from them, especially Opay and Kuda.

Good advice OP, na true, if we practice these precautionary measures e go help us protect our money and make we no de forget the kind amount wey we go de keep inside these kind banks because if something happen e go hard to locate any of their branch to go report make them freeze the account asap. No matter the benefit wey dis banks de give us we no fit trust dem fully so to me i still feel say the best bank to use na still our common commercial banks if we wan get peace of mind.

[Richbased]

How to prevent this from happening:
1. Make sure that your sim card is pin protected, this way it will be difficult to get access to your Sim when the phone is on, even if they are able to unlock the phone, the sim will remain locked and that gives you the advantage of making sure that your mobile wallet remains inaccessible.

Yeah, protection of sim card by setting it on Pin code is very important because if your phone gets lost or stolen and someone attempts to open the pin code and keeps trying different codes conspicuously the sim card will be automatically blocked so when it gets blocked it will be difficult to access any data or information on your phone.

[Hewlet]

When peso phone lost, wetin hackers d after na your sim card, no be your phone cos d know sae everly your phone go d locked, and for peso to get access to am na to flash am. So wetin dem go actually need na your sim card. Na through that your sim card dem go get access to your bank money.

Wetin the hackers go now do since they are in custody of your sim card, na to get to find out the banks wey d connected to your sim card. Ones dem don find out, na to start to d create mobile apps accounts for the banks connected to your sim card, putting in your BVN and account details into the mobile app downloaded for you. If you already don get mobile app for your phone, dem go request for forgetting password and the rest with your sim card. With that dem go receive the reset password and log in to your account to pull your money out to their Opay account wey no d link to BVN.

This is how I think sae the hackers hacked into peoples account with their lost phone through their sim card. Na why em be sae once peso phone lost na to find means to block em sim card asap before any other thing.

For peso to avoid this kasala for hackers hand toward em account, na to put em sim card for pin lock as you don suggest but make em make sure sae em get em sim pack within em reach to avoid changing phone or losing phone in the future.

mehn, to be honest, a lot of us have been careless with our security because we've not had a first-hand experience where our gadget was stolen and all our funds taken from us within a twinkle of an eye.

Even if you've lost your sim pack and might be afraid that if your sim is blocked, you might not have access to you puck code, understand that it's cheaper to unlock your sim from a service providers office than recovering a stolen fund from the bank. From the record and if I'm not wrong, I have not seen anyone that has recovered his stolen money ones there account has been hacked into. And since it's actually a mobile banking where most of them don't even have a physical location, it would be confusing and frustrating to even know the steps to take if you fall a victim.

Make your financial security your primary responsibility.

Money no de easy to get and make nobody come take the small one when you don try gather o

[Mayor of ogba]

2. Make sure to always password your phone, some phones are easily jail break but it is better than not having anything at all, this can give you time to do a welcome back before they get access to the phone.

When choosing a password you should choose a password with a minimum of 8 letters and the password should have a capital letter, a number, and a symbol so that it will be hard to break when you misplace your phone. Also if you lose your phone and you can not get access to your bank customer care because it is night, use another person's phone to call your network provider to block your sim card so that if the phone falls into the wrong hands they will not get access to your banking Apps.