Global banks panic on electronic banking as fraudster invade banks

By Omoh Gabriel,Business Editor
A spate of international fraudters have close in on banks across the globe. The fraud syndicate working through international network has led many international bank to send red alert to their customers warning them of attempt at defrauding their accounts. Some prominent Nigerian account holders in some of these banks abroad have aready fallen victim of the international fraudter syndicates. A former publisher of a promising newspaper now rested had fallen prey to these crooks for which he lost over $150,000 from his account. The matter it was learnt is still in court in London as the man hyas taken the London bank to court for paying out money from his account without his authority.
In the last one week, many of the mega banks have been frantically contacting their customer across the globe intimating them of several attempt made to withdraw money from their account ecectronically. the SunTrust Bank on the 20th of September wrote to all customer saying: “Recently there have been a large number of identity theft attempts targeting SunTrust customers. In order to safeguard your account, we require that your confirm your banking details, (credit card information and login password for online banking if you have). This process is mandatory and if not completed within the nearest time, your account, credit card may be subject to temporary suspension”.
Similarly on Wednessday 22nd September, Citizen Bank writing to all its customers under urgent security notification said “Technical services of the bank are carrying out a planned software upgrade. We earnestly ask you to visit the following link to start the procedure of confirmation of customers’ data.
In the same vein Citi bank alarmed by the spate of fraud attempt on its customer account first wrote to all its customer on the 9th of September, stating “Recently there have been a large number of identity theft attempts targeting Citibank customers. In order to safeguard your account, we require that your confirm your banking details, (credit card information and login password for online banking if you have). This process is mandatory and if not completed within the nearest time, your account, credit card may be subject to temporary suspension”.
To demostrate the seriousness of the matter Citibank on the 27th of September repeated the same letter to all its customer stating that non compliance will lead to service suspension for such uncooperating customers
Also alarmed by the trend, SmithBarney, the holding body of the Citi group puts it mildly stating that the Technical services of the Smith Barney are carrying out a planned softwareupgrade. We earnestly ask you to visit the link to start the procedure of confirmation of customers’ data. The statement said that this instruction has been sent to all Smith Barney customers and its customer support service.
Fraudsters are said to be taken undue advantage of the online banking that internet has provided the business community to defraud account holders with major banks that offer electronic banking. Millions of dollars are said to have been lost through this means before the banks realised it. Most bank in the last two weeks have been taking measures to reconfirm from their customers their banking data including information on their credit card.