Study of Social Engineering Attacks Targeting Bank Customers in Lagos State: Awareness and Vulnerability Factors

Social engineering attacks remain the most prevalent cybersecurity threat vector targeting Nigerian bank customers, and understanding the awareness levels and vulnerability factors among retail banking customers in Lagos State is critical for designing effective countermeasures. This study examines the prevalence, nature, and vulnerability factors of social engineering attacks targeting bank customers in Lagos State, South West Nigeria. A cross-sectional survey was administered to 300 retail banking customers recruited through convenience sampling from three commercial bank branch locations in Lagos Island and Surulere. The questionnaire assessed awareness of phishing, vishing, smishing, and pretexting attack methods, prior victimisation, verification habit compliance, and sociodemographic characteristics. Descriptive statistics, chi-square tests, and logistic regression were computed in SPSS. Available cybersecurity literature from South West Nigeria identifies vishing (voice-based phishing) through fake bank call centre impersonation as the most frequently successful social engineering method against Nigerian retail banking customers, with older adults and customers with lower educational attainment showing higher vulnerability. The Routine Activity Theory and Protection Motivation Theory provide the analytical framework. Findings indicate that 43 percent of respondents reported at least one social engineering attempt in the previous twelve months, with 18 percent resulting in partial or complete financial loss. The study recommends enhanced bank customer awareness programmes, verification protocol enforcement, and reporting mechanism simplification. Keywords: social engineering, cybersecurity, bank customers, Lagos State, financial fraud.