There is this issue or let me say confusion trending on social media as to whether your bank account can be hacked through your BVN”. I want to address this confusion with my little research on the matter and also give a categorical warning to those giving out their BVN to untrusted sites and applications. Because in a country like this where everyone is looking for a way to survive we might end up falling for scam because of greed for money or ignorance.
But before we start deliberating on that I would love everyone to know the meaning of BVN i.e. what BVN is.
What is BVN?👇
The abbreviation BVN stands for Bank Verification Number. It is used as a number to control all your accounts and prevent fraud.
Can One’s Account Be Hacked With BVN ?👇
The answer is “Yes“. You can be hacked with your BVN. In fact, once hackers know your BVN they have the chance to withdraw your funds without you consenting to it. That is why banks warn against displaying or giving out BVN to untrusted people or phishing websites.
Giving out your BVN means you’ve given out access to your bank details and as such the organization or hacker can easily view your banking information. I’ve also listed below the information hackers or organizations get when they get hold of your bank verification number.
Below are the Information hackers get with your BVN:
👉Date Of Birth
👉Security Question and Answer
👉 Your Bank Account email address
With the information above they can easily change your account pin and withdraw all your money. So always be guided while pasting your BVN anywhere to avoid having regrets later. Though there are certain basic knowledge you should have of a website before dropping your BVN. The most essential knowledge is whether the site you’re about to drop something as sensitive as BVN has SSL security on it, this is to ensure that your information isn’t been monitored or compromised by a third party.
Also ensure that the website requesting for your BVN is reputable in the country or is a registered company in the country. Like few days ago I shared something concerning StanChart Application giveaway of N2000 and some people were sceptical because it requires BVN… Don’t get me wrong it’s good to be sceptical with things as sensitive as BVN but it is also worthy to note that StanChart is a registered bank in Nigeria and it’s full name is Standard Chartered Bank, you can research about them on Google.
That’s all you need to know about BVN safety and whether your bank account balance can be jeopardized with the exposure of your BVN to hackers or scammers. Be safe!
Also feel free to drop a comment as to your ideas about this and questions 😉