Don’t Be Victim Of Fake Bank Alert, Experts Warn About Yahoo Boys’ New Tricks

Internet fraudsters, popularly called Yahoo Boys, may be shifting focus from romance scam to developing applications to dupe victims through sending fake bank alerts after transactions.

Mikhail Jella, a banker with over 10 years experience, said a bank customer may not see any “difference between fake bank alert and a genuine one,” unless they’re meticulous.

After carrying out a transaction, the fraudsters will generate fake bank SMS alert that will correspondent to the bank balance of the victim.

According to Jella, a fraudster will get away with it if the persons fail to check their balance using their mobile bank apps, USSD or Automated Teller Machine (ATM) Cards.