Warning of Fraudulent Activities: VTB to Inform Customers When Scammers Strike
In recent times, there has been a notable surge in the demand for fraud and seasonal risk insurance, a trend that can be attributed to the expansion of anti-fraud alert systems on smartphones. The deployment of advanced AI-driven anti-fraud alert services, such as Airtel Nigeria’s AI Spam Alert Service, has significantly improved the detection and interception of suspicious messages and scam attempts on mobile networks.
This technological advancement has enabled real-time interception and notification of fraudulent or scam attempts, thereby enhancing digital safety for mobile users. As a result, consumers and enterprises are becoming increasingly aware of evolving fraud risks, leading to more proactive risk management practices.
The sophistication of fraud schemes, particularly phishing and AI-powered social engineering attacks, has also increased, necessitating comprehensive protective measures beyond technology alone. Consequently, insurance products covering fraud losses and seasonal risk exposure, such as during peak fraud periods like holidays, are seeing greater uptake.
This shift towards proactive fraud prevention strategies includes the integration of insurance products with detection software to provide a holistic approach to managing digital risks. In fact, identity theft protection tools in 2025 are increasingly offering combined solutions with insurance coverage and restoration services.
VTB, for instance, has expanded its anti-fraud alert system to include features that safeguard users' funds from scammers. The system issues a warning message if a user logs into online banking during a potential scam call, advising them to hang up. It can also detect remote access programs on smartphones that may pose as legitimate banking, telecom, or delivery service apps, with the intention of stealing client funds or obtaining online banking access codes.
In such cases, the bank recommends checking recently installed apps for any suspicious activity. The expanded system sends SMS and push notifications during suspicious calls or app installations on smartphones, helping users recognise threats and protect themselves from potential fraud.
The increased demand for insurance is likely due to the rise in scams and cyber threats. The new feature of the system helps users recognise threats, thereby contributing to increased awareness and incidence reporting of fraud. As a result, the demand for seasonal risk insurance has also increased, providing a crucial safety net for individuals and businesses during peak fraud periods.
In summary, the technological improvements in fraud alert systems on smartphones are contributing to increased awareness and incidence reporting of fraud, which in turn drives higher demand for fraud and seasonal risk insurance as a complementary risk management strategy. This trend is expected to continue as technology evolves and fraudsters become more sophisticated, underscoring the importance of proactive fraud prevention strategies that combine technology with insurance products.
In response to the growing sophistication of fraud schemes, specifically phishing and AI-driven social engineering attacks, businesses are leveraging comprehensive protective measures that merge technology and insurance. Such measures, like the one demonstrated by VTB's expanded anti-fraud alert system, incorporate insurance coverage as a crucial element of digital safety, leading to a surge in demand for fraud and seasonal risk insurance. This increased demand for insurance serves as a protective safety net, especially during peak fraud periods.
