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Can Someone Hack My Bank Account With My BVN?
Read my post on Can someone hack my bank account with my BVN.
Some Nigerians still don’t know how essential their bank verification number is, making them valuable to a hacker. However, due to the increasing incidents of compromise on conventional security systems. There has been an increase in demand for better security on access to sensitive information in the banking system.
The central bank of Nigeria introduced a centralized biometric identification system called Bank Verification Number. It helps to protect bank customers and strengthen the Nigerian banking system.
The BVN is an important piece of personal information because it can be used to open an account, identify individuals, authenticate transactions, and a lot more.
However, with the rapid rate of cybersecurity risk in the world, everyone should be conscious of the information they share online. Because there are so many scammers that can use such information to harm you.
This article will discuss if someone can hack your bank account with your BVN.
Overview of BVN
BVN means Bank Verification Number, it is a biometric identification system designed by the Central Bank of Nigeria to reduce illegal banking transactions in Nigeria. The BVN is a unique 11-digit number used to identify each individual, across all bank institutions in Nigeria.
Since 2014, the CBN has made it mandatory for every bank account owner to register for the BVN. Although the bank verification number is unique to each individual, it can be used to own and operate multiple bank accounts with different banks.
Additionally, the system operates by recording the facial photograph, fingerprint, and biodata of the client. If you have linked your BVN to your account, you can check your BVN by dialing the USSD code: *565# on the phone number registered to your bank account.
Benefit Of BVN
- It gives a unique identity that can be verified in any Nigerian bank.
- It protects customer bank accounts from unauthorized access
- It helps to reduce identity theft thus reducing exposure to fraud.
- It helps the bank to fish out backlisted customers.
Can Someone Hack My Bank Account With My BVN
Someone can hack your bank account with your BVN but it can’t be used to transfer money from the account. However, the hacker can use your BVN to obtain personal information such as your name, account number, and phone number.
It has come to our notice; some people are skeptical of dropping their BVN on some official website or bank app. Nevertheless, only your BVN cannot be single-handedly used to withdraw your money from your account. There is other information needed to withdraw from your accounts such as your atm pin, the CVV of the atm card, and the long digits printed on the atm.
However, why it is important not to allow scammers to have access to your BVN, is because they can get your personal information. Then the hacker can pose as customer care from your bank requesting your card detail in order to hack your account.
What information can hacker access on your BVN?
BVN contains biometric data of customers, so with the right tools, hackers can access your full name, email, bank account, home address picture, and phone number registered with the BVN.
If your BVN is compromised what should you do?
Visit your bank’s nearest branch and fill out a form to alter your biodata. It would prevent hackers from accessing your information.
Why can I register another BVN?
Every individual can only register for a bank verification number once in their lifetime. So if your BVN is compromised then you need to change the information on your BVN.
Conclusion: Can Someone Hack My Bank Account With My BVN
The BVN on its own cant be used to hack your account but your personal information is stored on it. Hackers can use this information to deceive you and obtain your card detail. So, it is important to keep your BVN private.
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