Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,143,328 members, 7,780,842 topics. Date: Friday, 29 March 2024 at 12:03 AM

My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. (31047 Views)

How My Roommate Stole 120,000 Naira From My ATM Card And How I Caught Him / My Card Was Charged 190 Naira To 1 Dollar Today / Please Everyone: Help! N174,800 Was Withdrawn From My UBA Account (2) (3) (4)

(1) (Reply) (Go Down)

My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by wirinet(m): 3:52pm On Apr 09, 2013
I lost my first bank ATM yesterday. I withdrew some amount at Alaba around 11 Am in the morning through eko bank's ATM. I then took a bus to mile 2 and then to obalende before taking BRT home to Ikrorodu. Just before I got home around 5 pm' I noticed a hole in my breast pocket and my first bank ATM must have dropped through it. I was not very worried, because I felt any body that found my ATM would not be able to access my account easily because the person will not know my PIN. But I was dead wrong, on getting to my branch this morning to report the loss, I was told that my account had been cleared out between yesterday evening and this morning' with the lat withdrawal being made at 7 Am this morning. I was shocked' because I had always felt that ATM pins has a certain level of security. The customer service officer said that there is nothing that they can do, that my N135,000 is gone

On further enquries, I learn the first 4 withdrawals were made from first bank's branch at federal secretariat ikoyi and the other withdrawals were made at first bank's branch at ebute meta this morning. So I want to know how the thieves were able to gain access to my PIN and what I can do to get my money back.

I can only paint scenerios in this case. The first is that the thieves peeped at my PIN while withdrawing at alaba, then followed me from alaba to obalende and then somehow cut my breast pocket to obtain my ATM and then went on to make withdrawals. I doubt this because in many instances' I was the only person that boarded the bus from bus stops. When going from costain to race course, I was the only person in the bus stop.

The second plausible explanation is that the ATM dropped at Obalende and somebody picked it up and took it to an insider in first bank who was able to obtain the PIN internally. This might account for the fact that all withdrawals were from first bank's ATM.

Another plausible explanation is that Nigeria's ATM are highly insecure and so there are cheap card readers that can easily read PINs from stolen cards. So loosing your card is as good as loosing your money.


Please I need explanation and advice from expert bankers.
Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by Nobody: 4:16pm On Apr 09, 2013
Pele, next time you will treat your ATM card like it is cash it is worth in the bank.
Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by dav8id(m): 4:19pm On Apr 09, 2013
Just go and block the atm card thats all
Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by uboma(m): 4:25pm On Apr 09, 2013
dav8id: Just go and block the atm card thats all

that's not all. the op should report to the branch where the money was withdrawn. Every ATM takes snap shots of individuals during any transaction and the bank will simply view the pictures taken. the thief can still be identified. the bankers know what to do, just put pressure on them

1 Like

Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by sunnyt1(m): 5:04pm On Apr 09, 2013
Report the issue to your bank as soon as possible, or u can also confirm frm any banker around you for the best way to go abt it.
Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by Nobody: 5:33pm On Apr 09, 2013
Do you have any suspects? Anyone who knows yout ATM Card PIN should be really close to you.
Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by feminineA: 6:06pm On Apr 09, 2013
dav8id: Just go and block the atm card thats all

Did you read his post at all?? He said all the money in his account has been cleared.
It is well jare bros. Don't really know how this card pin works. Pele
Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by Trut(m): 7:14pm On Apr 09, 2013
Go to your Bank and report, they can trace the THIEF.
Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by wirinet(m): 7:27pm On Apr 09, 2013
No body knows my card pin. The card must have dropped at Obalende and the finder must have been able to access info on the card within 1hour. If it was not an inside job' it has a lot of implication for ATM card holders. It mean anybody who gets hold of your card can clear the account without you exposing your pin. A houseboy or driver can steal his oga's card and work with others to steal money from the account before the owner even realize the card is missing.

My branch insists it is someone that is close to me and knows my pin that stole the money. They are so non chalant about it that they are not even willing to investigate. They said I should go to the branches the cash was withdrawn to request for photos of the person that used the ATM to withdraw my money.

Don't we the customers have any form of protection against illegal withdrawals from our accounts by ATM cards? No insurance whatsover. I know card holders are protected abroad.

1 Like

Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by Rexyl(m): 10:45am On Apr 10, 2013
An ATM prepaid master/ visa card in your hand is as exposed as the cash itself, anybody holding is set to buy anything with it at any time, especially if it has been registered for online use. Be careful the way you handle it.
Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by Rexyl(m): 11:11am On Apr 10, 2013
wirinet:

The second plausible explanation is that the ATM dropped at Obalende and somebody picked it up and took it to an insider in first bank who was able to obtain the PIN internally. This might account for the fact that all withdrawals were from first bank's ATM.

Another plausible explanation is that Nigeria's ATM are highly insecure and so there are cheap card readers that can easily read PINs from stolen cards. So loosing your card is as good as loosing your money.


Please I need explanation and advice from expert bankers.

How come that bank employee could gain access to pin details of card owner? I thought they only issued cards to costumers and should not be able to access the pin details as ATM service providers like verve, visa or master brands. If they have card‘s details should be when the owner failed to change the pin after activation. I think I‘m right with this?
Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by wirinet(m): 12:35pm On Apr 14, 2013
Rexyl:

How come that bank employee could gain access to pin details of card owner? I thought they only issued cards to costumers and should not be able to access the pin details as ATM service providers like verve, visa or master brands. If they have card‘s details should be when the owner failed to change the pin after activation. I think I‘m right with this?

That is the mystery i am trying to solve. How were the thieves able to gain access to my account within hours of loosing my ATM card? can hackers offfer an explanation? is there a software or card reader that can easily reveal details on a stolen credit or debit card?
Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by Reelee: 4:47am On Apr 15, 2013
There is no way an employee of the bank can retrieve your PIN. In most cases people's PIN are their birthdays (a combination of the day, month or year).
If you need the bank to investigate, call the contact centre at the head office and request to see the videos of the period those withdrawals were made. You can reach the contact centre on 014485500, 07080625000. Please note this can take some time to retrieve; about a week or two weeks.
Re: My ATM Card Was Stolen And Money Was Withdrawn Within Hours - Advice Needed. by stagger: 11:24am On Apr 15, 2013
wirinet:

That is the mystery i am trying to solve. How were the thieves able to gain access to my account within hours of loosing my ATM card? can hackers offfer an explanation? is there a software or card reader that can easily reveal details on a stolen credit or debit card?

I am surprised you have never heard of what is called a skimming device. Google it and read.

Someone here had mentioned a similar experience he had about how his card was used in purchasing credit. The card was in his possession but he used it in an ATM at the same Alaba area. You should have blocked the card ASAP. Too bad.

(1) (Reply)

Saving With KOLO: I Just Began This Journey (photo) / Credit Deduction Theft From Account- Photo / Which Bank Offers The Best Saving Option In Nigeria?

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 27
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.