deenee: @ madejibo, I don't work with DB and don't have any affiliations whatsoever with them but we need to be unbiased in our assertions. Also, there is not need to be unruly. It is uncalled for and uncivil. The OP will be questioned if the case is escalated and I can bet you that what he has said here will be totally different from what he will say if interviewed. I do empathize with him on the loss but I will still say that he is economical with the truth. For the OP have you at any point in time made purchases online via a payment platform that is not verified?

Still again, banks don't have access to your ATM pin that is why also you are by default required to change your pin once you get a new ATM card. Secondly the long number on your ATM is blotted out on any invoice containing ATM transactions e.g the print out you get when you make a withdrawal. Even at that, you are expected to destroy such after use.

In most cases, as one poster has put it, the OP maybe by error clicked on a link online that put a virus in his system that gathers sensitive info and transfers to a remote system.

I will repeat again that I am not absolving the bank nor trying to support them but let's listen to both sides of the story before we begin to throw stones.

I hope our "very intelligent nairalanders" will pick up strong learning points from this whole fiasco.

Your assertions in bold were prejudicial.

We all (including you) sympathise with the poster and hope he gets his money back.

some of the account they transfer to are opened with fake documents they are not traceable

alexdan1881: some of the account they transfer to are opened with fake documents they are not traceable

That will make the bank culpable. No Excuse. They are required to know their customers. CBN mandated this several years ago and expected all banks to comply.

ifyalways: This thread is an eye opener for me.

Same here...

dayooye: ...In my own case 500,000 naira was transferred into my GTB account from a customer who wants to buy liberty reserve in bulk. i fufilled the liberty reserve order as soon as i got payment in my GTB account, after 4 days my GTB account was locked, i went to my branch to complain, on getting there they told me some fraudulent transaction came into my account, i explained what transpired btw me and the guy that made the transfer into my account to my account officer, they told me the owner of the account from where the funds came in denied making any such transfer from his account into mine, simply put, the guy that i have been talking to for days is not the real owner of the account, most likely they got hold of the real account owners online banking informations, how they did dat i dont know, then they transfer fund into another legit account in exchange for goods or services which would be rendered to them almost immediately....

Businesses (entrepreneurs) that receive/accept substantial amount via online payment without verifying/authenticating their customers id (especially new/unknown customers) should be wary from the above example and review their online payment policies with an "indemnity clause" ASAP with the help of a good lawyer. Identity theft is for real in Nigeria.

Online bank fraud is a global phenomenon and will continue to grow in Nigeria as a result of:
1. Customer Fraud - Account holder carries out a transaction and feigns ignorance.
2. Customer Negligence.
3. Customer Carelessness.
4. Customer ignorance - Most bank customers are just getting used to online banking.
5. Hackers.
6. Bank Fraud - Carried out by unscrupulous employees of the bank.
7. Management Fraud - illegal deductions of customers (account holders) funds with "tacit approval" from the bank's management for several unethical reasons. Ask Tony of UBA, Jim of Zenith, Akingbola of Intercontinental, Aig of Access and the others.
8. Social Media - Makes the jobs of 5 (hackers) above easier but can also remedy the problem when people share preventive measures on the internet. I will try and proffer some solutions.
9. Poor Internet Security - Some banks do not have a robust internet security on their online platforms.
10.Poor regulation - the CBN is yet to get a full grasp of what global financial integration means.

Funds (bank accounts) exposed to online banking are sitting ducks.

Good one.. please will like to know more on how to combat this growing menace

Peterwins:
Businesses (entrepreneurs) that receive/accept substantial amount via online payment without verifying/authenticating their customers id (especially new/unknown customers) should be wary from the above example and review their online payment policies with an "indemnity clause" ASAP with the help of a good lawyer. Identity theft is for real in Nigeria.

Online bank fraud is a global phenomenon and will continue to grow in Nigeria as a result of:
1. Customer Fraud - Account holder carries out a transaction and feigns ignorance.
2. Customer Negligence.
3. Customer Carelessness.
4. Customer ignorance - Most bank customers are just getting used to online banking.
5. Hackers.
6. Bank Fraud - Carried out by unscrupulous employees of the bank.
7. Management Fraud - illegal deductions of customers (account holders) funds with "tacit approval" from the bank's management for several unethical reasons. Ask Tony of UBA, Jim of Zenith, Akingbola of Intercontinental, Aig of Access and the others.
8. Social Media - Makes the jobs of 5 (hackers) above easier but can also remedy the problem when people share preventive measures on the internet. I will try and proffer some solutions.
9. Poor Internet Security - Some banks do not have a robust internet security on their online platforms.
10.Poor regulation - the CBN is yet to get a full grasp of what global financial integration means.

Funds (bank accounts) exposed to online banking are sitting ducks.

dannywest:

Thank You very much Jide

has any thing been done to get your money back?

OP,whats the scores now?

what have u been doing on how to get your money refund ?

@OP any show?

Hi all et OP,

The fastest way to get attention in Nigeria these days is through the internet, social media, Tv and newsprint. Please tell your lawyer to call press conference or get someone who can link you and your lawyer up with any ' oga at the top' in The Punch. If they can publish the story repeatedly in Punch, trust me, your money would be returned without much ado. If you have to follow legality per se, it may take time most especially when your wife is expecting.

Bros cant you tell them to trace the receives informations for you.....from their account numbers they will get their name and you take this case from there

any Update

Dannywest, i will like the victim of this fraud to get in touch. he could reach me on editor@sunsetnewspaper.com or sunset.newspaper@yahoo.com. I am sure he will get his money back once he avails us of the details. Will be waiting.

@dannywest, you have 2 legal lummiaries that can take on Diamond bank
1: Proffessor Epiphany Azinge
2: Festus Keyamo

Kk

Hello all, pls does anyone here knws how the FORM A transaction works? Am in a fix here