Findings have revealed that bank customers in Nigeria lose at least N20 million monthly to robbers and other criminals using the point of sales (POS) devices.

This is coming in spite of a policy by the Central Bank of Nigerian (CBN) that banks whose network is used for such act will be sanctioned.

Police sources said there has been an increase in cases of victims of robbery and other malpractices through the use of the device, which recorded a minimum of 25 reported cases monthly, with several others unreported since 2015.

Lagos, Port Harcourt, Onitsha, Aba, Warri and Abuja are known as the “hot spots” for such crime.

Cases of people falling victims to robbery, with POS in use, have become more rampant between 2015 and 2017, but without any bank assisting victims to recover their stolen funds.

Full details: https://www.ripplesnigeria.com/nigerians-lose-n20m-monthly-pos-robberies-bankspolice-look/