Please this is a true story which happened just few days ago. My friend advertised a car for sale and put the price at N2,700,000.00. A prospective customer called and was given directionson how to get to where the car was parked. He checked the car and informed my friend that he was heading to the bank to make payment and that she should assemble the documents ready for collection as soon as payment is made. Shortly after that an alert came to my friend's phone and a few minutes after the alert the customer came and the car plus all the documents were handed over to him and he left. To my friend's greatest shock, she went to the bank and could not find any money and the bank said that the alert did not come from them. My friend is planning to take her bank to court. The advice is that alert is no longer an acceptable bank confirmation of payment.

Please let's all be careful when doing transactions especially in this technology crazy generation. I believe he hacked into her account using the personal details she gave him. Pls re-broadcast.

It could be this 3rd party bulk sms kind of thing, knowing the bank you are operating, and they know how the sms are sent, so all they needed to do was to compose a customised text, change the sender name to your bank, and wholla!!! U have enter one chance, taking the bank to court may lead to a dead end, only and only if, someone from bank did fake the sms, which the can track by your network information

Not new method, but like they've gone so deep into the method, I suggest people should activate their mobile banking as well to make further enquiry

The sms wasn't from your bank. Na customised bulk sms be that.

If you're using an android Phone, its very easy.

Banks send sms in a trail and thread form. Meaning all previous messages appears sequencially and if a fress one appears as a new message outside the thread, you should suspect foul play.

Better, do online banking through mobile App

I would say the lady is not smart. There are so many ways to confirm the genuineness of the message. First, did the alert also show current balance in her account? She should know her balance prior to the transaction. If that is the case, then there's a connivance with the bank staff.

It is also surprising that in this day of internet and mobile banking, she could not verify that the money is intact before parting with the said car. It is also very easy for the fraudster to have utilize bulk sms portal/system to send the sms which will obviously displays as coming from the bank. Even if any of these methods is not used to verify the authenticity of an sms, it makes a lot of sense to go to any nearest branch of the bank with the buyer. I bet you at this point, the buyer will be reluctant to go, which is a red flag for any business transaction. Yet another option would have been to call her account officer to verify. Please, don't tell me the cliché "I do not know my account officer....."

In any case, she's solely responsible for her actions as the bank cannot indemnify her except there's an insiders' information as regards the exact amount in her account at the time the sms came in corresponding to what she has in the bank in addition to the false payment.

Usually when selling a car, the best option is usually to proceed to the bank with the buyer. Payment is confirmed there and then, before documents are transferred. As a matter of fact, it sounds unreal but then, funny things happen daily

This is not new na

That's a learner in d making
I bet you that was her fist car deal

why didn't she check her account balance by either ATM, phone call, going to the nearest branch or by Internet.

I would say the lady is not smart. There are so many ways to confirm the genuineness of the message. First, did the alert also show current balance in her account? She should know her balance prior to the transaction. If that is the case, then there's a connivance with the bank staff.