Mobile Banking in 2026: Top 10 Threats Users Must Watch Out For
Story; written by Uzuh Rita December 24,2025
As mobile banking continues to grow in Nigeria and worldwide, users are facing increasing risks from cybercriminals. Experts have highlighted ten major threats to watch for in 2026:
- Phishing attacks – Fraudsters trick users into revealing account details via fake emails, SMS, or apps.
- Malware and spyware – Malicious software can compromise mobile devices and steal sensitive banking information.
- SIM swapping – Criminals hijack phone numbers to access bank accounts and two-factor authentication codes.
- Fake banking apps – Fraudulent apps mimic legitimate banking apps to steal login credentials.
- Unsecured Wi-Fi networks – Public Wi-Fi can be exploited to intercept personal data during transactions.
- Social engineering scams – Scammers manipulate users into giving away personal information.
- Account takeover – Hackers gain full control of a user’s bank account for fraudulent transactions.
- Rogue updates – Fake software updates can introduce malware or compromise security.
- Weak passwords – Easily guessed passwords make it simple for attackers to access accounts.
- Unauthorized apps and permissions – Granting excessive permissions can expose sensitive banking data.
Experts urge mobile banking users to remain vigilant, use strong passwords, enable two-factor authentication, and only download apps from trusted sources to safeguard their accounts.
