Access Bank Plc has unveiled a financial crime awareness initiative aimed at educating young people on scams and fraudulent activities. The initiative, dubbed "Spot-The-Scam" campaign, was launched at a news conference in Lagos. The programme targets students aged 12 to 16 and aims to reach 30,000 young people in Lagos State. This initiative is designed to help young people identify scams and avoid becoming victims or unwitting perpetrators of financial crimes.
According to Solomon Abiakalam, Chief Conduct and Compliance Officer at Access Bank, the initiative was inspired by a recent incident where the Economic and Financial Crimes Commission (EFCC) arrested about 792 young people during a raid in Victoria Island, Lagos, on December 10, 2024. Abiakalam emphasized the need to address financial crimes through early education, alongside regulatory and banking controls. He noted that the bank had strengthened internal controls but decided to "go upstream" by educating potential victims and perpetrators.
Abiakalam also called for scam awareness and prevention to be incorporated into school curricula, emphasizing the need for collaboration between banks, schools, parents, government agencies, and telecommunications companies to tackle financial crimes. He advised customers to pause and verify suspicious messages or requests, especially those creating urgency, fear, threats, or undue excitement. The bank regularly trains and assesses its staff on financial crime prevention and operates an "always-on" fraud awareness campaign.
Abiodun Olubitan, Head of SME Banking at Access Bank, urged parents to create an environment where children can report suspicious online experiences without fear of punishment or shame. Oge Kasie-Nwachukwu, Acting Group Head of Marketing and Retail Analytics at Access Bank, said early financial education would help children recognize scams involving fake rewards, games, celebrity profiles, and other online content. The programme will initially focus on students but will subsequently expand to children, parents, and teachers.
Ronke Matuluko, a representative of the Lagos State Ministry of Basic and Secondary Education, urged students to report suspicious activities to teachers and guidance counsellors. Inyang Etim, Head of Regulatory and Financial Crime Compliance at Access Bank, emphasized the importance of creating safe spaces for young people to speak openly about their experiences. Etim also urged parents to instill ethical values in children, noting that incentives alone cannot replace proper moral upbringing.
The "Spot-The-Scam" campaign is part of Access Bank's efforts to support financial crime prevention and education. The bank has been actively working to strengthen its internal controls and educate customers on financial crime prevention. By targeting students aged 12 to 16, the bank aims to empower young people with the knowledge and skills to identify and avoid scams.
The initiative is expected to have a positive impact on the community, and Access Bank is committed to continuing its efforts to prevent financial crimes. The bank's collaboration with schools, parents, and government agencies will help to create a safer and more informed community. By educating young people on financial crime prevention, Access Bank is taking a proactive approach to addressing the issue.
Key points
- Access Bank targets 30,000 students in Lagos State with its financial crime awareness initiative.
- The initiative aims to educate young people on scams and fraudulent activities.
- The programme will initially focus on students but will subsequently expand to children, parents, and teachers.
