GTBank Confirms Attempt To Compromise Website, Assures Customers No Data Breach

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Guaranty Trust Bank (GTB) Ltd has confirmed an attempted compromise of its website domain but reassured customers that their data remains secure.

On Wednesday, reports circulated alleging that GTBank's domain had been targeted by suspected cybercriminals. The attackers reportedly created a fraudulent hypertext transfer protocol (HTTP) layer of the bank's website, intending to steal customer data through phishing schemes. Phishing is a common cyber attack where scammers deceive individuals into divulging sensitive information or installing malware.

The reports triggered concern among customers, who feared their accounts might be at risk. However, in a statement released on Thursday, GTB clarified the situation, stating, "While there was an isolated incident of an attempt to compromise our website domain, we would like to assure all our customers and stakeholders that the Bank’s website has not been cloned and that we do not store customer information on our website, and as such, there has been no instance of compromise of customer data."

The bank emphasized that a specialized team of information security experts is working diligently to restore the domain settings, assuring customers that the website would be fully operational shortly.

GTB urged customers to disregard the claims circulating in the media and reaffirmed its "unwavering commitment to safeguarding customer data."

This incident comes amidst growing concerns about fraud in Nigeria’s financial sector. A recent report by SBM Intelligence, a geopolitical research firm, revealed that the amount of money lost to fraud in Nigeria’s financial sector increased by N14.71 billion (83 percent) between 2019 and 2023, rising from N2.96 billion to N17.67 billion over the period.