SHORTLY before I joined Equitorial Trust Bank Limited as a corporate affairs manager years back, the Head of the Information Technology Department (name withheld), I was briefed, had manipulated the operating system in the bank without anyone knowing, fleeced millions of naira belonging to the bank and vamoosed to the US without any trace of his whereabouts or how the software was reprogrammed till today.

The rate of bank frauds in Nigeria is becoming alarming. It is blossoming simply because of insider collusion without which the trend would only be marginally occasioned by clientele negligence or carelessness—or human error by indolent bankers.

What fraudsters do these days is to hack into institutional websites, redesign them for their nefarious activities. Most unsuspecting patrons of such duplicitous websites are unlikely to distinguish them from the original ones. With this handicap, ignorant customers and account holders are misled into parting with their money without knowing until perhaps when the scales have fallen off their eyes by which time the harm had been perpetrated.

The latest practice of the yahoo-plus boys is to hack into accounts using BVN instrumentality. I understand that once they get any phone they access it for the victim’s BVN which most people store in their phones. Once the SIM card is removed from the phone, it is connected to a laptop and thereafter all the details of the account are downloaded and used to siphon money pronto before any blockage of the account.

What it now means is that people should stop storing their BVN or personal identification numbers (PINs) in their handsets. How criminals deploy these items for their fraudulent activities still amazes me and defies any credible rationalization.

For instance, is it possible for any criminal to clone another person’s GSM number without