Nigeria, July 16 -- Wema Bank has warned customers to be vigilant against fraudsters using fake advertisements and pop-up prompts on social media, websites, and messaging platforms to trick users into downloading malicious mobile applications capable of stealing banking information.

In a mail sent to its customers on Thursday, the bank said cybercriminals are increasingly disguising malware as legitimate applications, including sports betting, live score, streaming, utility, banking support, and phone update apps.

According to Wema Bank, once installed, the malicious applications can take control of a victim's mobile device, steal banking credentials and transaction PINs, intercept SMS messages, and one-time passwords (OTPs).

It explai...