Growing up mummy pulled our ears till they hurt. In that pain, she yelled at us saying, DO NOT TALK TO STRANGERS. 

Many years after we nearly had our ears ripped off listening to that advice, we’re seeing how timeless and valuable mummy’s advice is today. In today’s world where everything from your bank to your debit card to your fintech apps is connected and accessible through numbers, being smart and ignoring strangers is key to not losing everything you’ve worked so hard for. 

Like strangers, criminals and fraudsters come in different shapes and sizes. In our space and context, some fraudsters pose like your bank representative; some fraudsters pose like a representative of your favourite online lending app – FairMoney. Most of the time, these fraudulent entities always want to:

  • Upgrade your BVN
  • They want to help you resolve an issue and they happen to need some personal information other than the transaction details 
  • They want to double your money
  • In our case, they want to help you upgrade your loan limit and they want you to pay into their personal account. 

Some come through SMS, emails, phone calls, fake social media pages, fraudulent WhatsApp and Telegram groups. Many money doubling scheme groups have now sprung up using FairMoney’s brand name and identity. What fraudsters like to do is to put you off guard by sounding or appearing legit. It is important that you remember mama’s warning and not fall for their sinister plans.

When you don’t follow mama’s warnings and you give someone your PIN, Password, OTP or Card Details, that person will now have unlimited access to your bank account or your FairMoney account. Essentially, what that means is that person can clear your account in seconds! That is all the money you’ve worked so hard for. 

Please do not be deceived into thinking that they mean good. Fraudsters always present a case that is too good to be true. They usually want to give you the entire world for just a little token from your side. Do not fall for it. We’ve seen many of these cases reported to us. Customers crying over the phone, as they’ve been duped and all their monies are gone. 

Please don’t be the next victim. Report any of these fraudulent entities to our email We follow up to bring the fraudsters to justice.

Again, do not forget mama’s warning. Don’t talk to strangers. 

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