Online Scams Are Winning Because People Share Too Much Personal Information – Cyber Security Expert

Claire, a 24-year-old student of the Nigerian Institute of Journalism never imagined a simple online purchase could cost her thousands. On Christmas Eve 2025, the Lagos resident spotted an Instagram seller offering a used iPhone at a low price. The page looked real, complete with photos and glowing customer comments.

After a brief conversation, the seller asked her to transfer ₦120,000 for the phone. Trusting the offer, Claire sent the money.

Minutes later, the seller stopped replying. The number became unreachable and the Instagram page disappeared. That was when Claire realised she had been scammed.

Stories like this are becoming more common across Nigeria as cybercrime continues to grow. With more people using smartphones, mobile banking and social media, fraudsters now have more ways to target victims online.

From fake online stores to phishing messages and investment scams, many Nigerians are losing money to internet criminals who operate across different digital platforms.

Cybercrime has also caused huge financial losses in the country. The Economic and Financial Crimes Commission (EFCC) has reported that Nigeria loses hundreds of millions of dollars to cybercrime every year.

The anti-graft agency has also secured thousands of convictions linked to internet fraud and related crimes, showing how widespread the problem has become.

Speaking with Naija News, President of the Cyber Security Experts Association of Nigeria (CLEAN), Mathew Olatunji, said the situation has reached a worrying level.

“The cybercrime situation in Nigeria is currently at a high threat level both in frequency and complexity,” he said.

According to him, criminals now use different methods to attack individuals, businesses and financial institutions.

“We’re seeing sustained phishing campaigns, ransomware incidents, business email compromise, SIM-swap fraud and credential harvesting,” he explained.

Olatunji said the rapid growth of digital technology has also created new opportunities for cybercriminals.

“Cloud adoption, mobile banking penetration and remote work environments have introduced new vulnerabilities,” he said.

He added that scammers are now using advanced tools to increase the success of their attacks.

“We’re also observing automation in fraud operations. Attackers are using scripts and AI-assisted social engineering to scale attacks,” he said.

The cyber security expert said many scams succeed because criminals take advantage of human emotions.

“Most online scams are built around urgency, fear, greed or emotional connection,” he said.

According to him, people often panic when they receive messages claiming their bank account will be blocked or when they are promised quick financial rewards.

He also noted that many Nigerians share personal information online without realising the risk.

“Scammers can gather details from public profiles and use them to make their messages appear legitimate and personalised,” he said.

Olatunji warned that there are common signs people should watch out for when dealing with others online.

These include messages that pressure people to act immediately, requests for sensitive information such as passwords or bank details, and offers that promise unrealistic profits.

“Legitimate institutions will not ask for passwords, OTPs or PINs through email or social media,” he said.

Small businesses are also becoming major targets for cybercriminals.

According to Olatunji, many small businesses hold valuable information but often lack strong cybersecurity systems.

“Common attacks include phishing emails to employees, ransomware that locks essential files, fake invoices and payment diversion scams,” he said.

He added that cybercriminals often see small businesses as easy targets.

“Attackers see small businesses as soft targets, profitable and less prepared to detect or respond to threats,” he explained.

To stay safe online, Olatunji advised Nigerians to take simple precautions.

“Use strong, unique passwords for every account and enable two-factor authentication wherever possible,” he said.

He also urged people to be careful when clicking links sent through email, text messages or social media.

“Be cautious of links and attachments, especially from unknown sources,” he said.

The cyber security expert added that people should regularly monitor their bank accounts for suspicious transactions.

Olatunji noted that Nigerian banks and fintech companies have improved their security systems in recent years.

“Nigerian banks and fintech companies have made significant strides in improving cybersecurity,” he said.

According to him, many financial institutions now use multi-factor authentication, transaction alerts and advanced fraud detection systems.

However, he said more work is still needed to stay ahead of cybercriminals.

“Continuous customer education and faster response mechanisms are still needed,” he said.

For people who have already fallen victim to scams, Olatunji advised taking immediate action.

“The first step is to stop further exposure immediately, freeze your bank account or change your passwords,” he said.

He also advised victims to report the incident to their bank and law enforcement agencies such as the EFCC.

“It’s also important to document all evidence such as emails, screenshots, messages and transaction records,” he added.

Olatunji said the government and security agencies also have a major role to play in tackling cybercrime.

“The government and law enforcement must provide strong cybercrime legislation and adequate resources for enforcement agencies,” he said.

He added that authorities should increase public awareness and work with international partners to fight cross-border cybercrime.

The cyber security expert also had a message for young Nigerians who may be tempted to engage in internet fraud.

“My advice is simple and direct: don’t do it,” he said.

“Internet fraud may seem like an easy way to make money, but it comes with severe legal consequences, including long prison sentences and permanent criminal records.”

He encouraged young people to focus on legitimate digital skills that can create real opportunities.

“Young people should focus on legitimate digital skills like programming, cybersecurity, digital marketing and fintech development,” he said.