Scammers are increasingly targeting bank customers with fraudulent text messages, emails, and phone calls designed to trick them into revealing sensitive information or transferring money.
Many of the scams rely on creating panic or urgency, convincing customers to act before verifying the information.
Fraudsters often exploit periods when people are making regular payments, such as rent at the end of the month or school fees at the beginning of a new term.
Equity Bank has explained eight of the most common scams targeting bank customers, explaining how they work, when they are most likely to occur, and how customers can avoid falling victim to them.
1. Fake Bank SMS or Email With a Phishing Link
One of the most common scams begins with an SMS or email that appears to come from a bank.
The message may claim that an account has been suspended, blocked, requires verification, or that suspicious activity has been detected. Customers are then urged to click a link immediately.
The link directs victims to a fake banking website that closely resembles the official one. Once customers enter their username, password, or PIN, fraudsters capture the details and use them to access the account.
2. Fake Competition or Reward Messages
Fraudsters also send messages claiming customers have won cash prizes, shopping vouchers, airtime, or loyalty rewards.
The message often includes a link or phone number and asks customers to verify their account details or make a small payment to claim the prize.
Instead, victims either surrender their banking credentials or install malware on their phones.
3. “Send Money to This Number” Scam
A customer may receive an urgent text message claiming to be from M-PESA, a bank, or another trusted organization, instructing them to send money to a specific phone number to resolve an issue or complete a transaction.
Believing the request is genuine, the customer transfers the money without verifying the information, only to discover later that the funds were sent to a fraudster.
4. Fake Landlord Account Change
As the end of the month approaches, tenants may receive messages claiming the landlord has changed their bank account or mobile money number.
The message often warns that failure to pay immediately could attract penalties or eviction.
Believing the request is genuine, tenants send rent to fraudsters instead of the actual landlord.
5. Fake School Fees Account Change
Parents, guardians and relatives are also frequent targets. Fraudsters send text messages or WhatsApp messages pretending to be from schools, claiming that school fee payment accounts have changed or requesting urgent pocket money on behalf of a learner.
The messages often warn that the student may not be admitted to school or urgently needs money, pressuring recipients to act immediately.
Those who fail to verify the information with the school or the student risk sending money directly to fraudsters.
6. Fake Medical or Family Emergency
Fraudsters prey on emotions by claiming a relative has been involved in an accident or urgently requires hospital treatment.
The caller may pretend to be a doctor, police officer or Good Samaritan and ask for immediate payment for treatment, an ambulance or surgery.
If not carefully considered, victims send money before confirming whether the emergency is real.
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7. Mobile Banking Verification or OTP Scam
In this trick, fraudsters call customers pretending to be bank employees helping with mobile banking updates, account verification, or system upgrades.
During the conversation, the victim receives a One-Time Password (OTP) and is asked to read it aloud.
The fraudster uses the OTP to complete transactions or reset banking credentials.
8. Fake Account Blocked or Suspended Message
Customers receive alarming messages claiming their account has been blocked, suspended, or deactivated because of issues such as KRA PIN verification, account linking, or suspicious activity.
The message instructs victims to call a number provided for assistance.
The person who answers pretends to be a bank employee and tricks customers into revealing confidential information or authorizing fraudulent transactions.
Also Read: 121 Equity Scholars Earn KSh3 Billion Scholarships to Top Global Universities
How Equity Customers Can Protect Themselves
To help customers stay ahead of fraudsters, Equity has outlined practical steps that can reduce the risk of financial loss and identity theft.
Below are some of the key scams and the measures customers can take to protect themselves.
| Fraud/Scam | How to Avoid It |
| OTP and verification code scams | Never share your Code, PIN or One-Time Password (OTP) with anyone. Equity and Equitel staff will never ask for your Code, OTP, ID number or PIN over the phone or via SMS. If anyone requests these details, end the call immediately and report the number by sending it via SMS to 333. |
| Fake calls claiming to be from Equity | Only trust calls from Equity’s official customer care number, 0763 000 000. Ignore calls from any other number claiming to represent the bank. |
| Fake account blocked or suspended messages | Do not call numbers provided in messages claiming your account has been blocked, suspended or deactivated. Equity does not ask customers to call a number to unblock their accounts. Instead, contact the bank using its official channels. |
| Phishing SMS and fake bank messages | Genuine messages from the bank will display the sender ID “EQUITY” or “EQUITEL”. Customers should ignore messages sent from personal mobile numbers claiming to be from the bank. |
| Fake promotions and competition scams | Avoid promotions claiming to be from Equity or Equitel that require you to send money or respond to personal phone numbers. Genuine promotions will never ask customers to pay to participate. |
| Soft loan scams | Ignore and report SMS messages offering loans, claiming there is a problem with your account, or informing you that you have won a competition you never entered. Report such numbers by sending them to 333 via SMS. |
Other security tips from Equity
Beyond specific fraud schemes, Equity advises customers to keep their banking information secure by never saving PINs, passwords or banking details on their phones and avoiding passwords that are easy to guess, such as birth years, ID numbers or simple sequences like 7777.
Customers should immediately notify the bank if they lose their Equitel line, Equity payment card or mobile phone so their cards and digital banking services can be blocked.
The bank also recommends deleting banking SMS messages before selling or sharing a mobile device, logging out of online banking after every session and ensuring passwords are not automatically saved in browsers or mobile phones.
If customers are uncertain about any banking communication, they should visit the nearest Equity branch or branded Equity agent, call 100 from an Equitel line or 0763 000 000 from any other mobile network for assistance.
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