Current Chronic Theft In Nigeria Banking System - Politics - Nairaland
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| Current Chronic Theft In Nigeria Banking System by jaso1(m): 2:28pm On Jan 19, 2010 |
I had a case of colleague been defrauded with ransom of 150 thousand naira approximately by UBA bank via ATM. According to the guy he knows his last transaction on the account as he’s preparing for his wedding due to this he manage his spend so as to have something to fall back on when the time arrives. He was surprised with this latest development in Nigeria banking sector when he got the news that his card had been used without his conscience to withdrawn all his deposit in UBA. If this guy is conversant with corruption that has dominated Nigeria system this may not affect him much but with the way I see this guy I pray this won’t yield him early grave. If this act can be carried out by bankers where else are we save in this country? In fact as I’m writing this mail the guy was already boiling and this automatically reflect in his looks. the amazing thing was that the bank official claiming this was due to his negligent therefore face the consequence. I’ve already call on my legal friend to assit but also want your contribution in this forum. |
| Re: Current Chronic Theft In Nigeria Banking System by Afam(m): 5:42pm On Jan 19, 2010 |
Send a detailed letter/piece to all the media houses if they cannot refund the money as long as your friend did not contribute to the problem by compromising his PIN. The development is indeed very sad. Unfortunately, most of the these banks don't understand technology, they just buy into anything that seems to be used by any bank in any part of the world without understanding the technology. |
| Re: Current Chronic Theft In Nigeria Banking System by jaso1(m): 11:05am On Jan 20, 2010 |
Thanks Afam, we've started the process. |
| Re: Current Chronic Theft In Nigeria Banking System by skalamanga: 12:50pm On Jan 20, 2010 |
what they simply did is called skimming;getting all your card details including your PIN from the last atm he used to withdraw and using it to reproduce (clone) the same card, i also fell victim on the 22nd dec last year in abuja two hours after i made a withdrawal from GTBank atm in maraba someone in warri was helping himself to my account.the alerts started coming in and as soon as i discovered what was happening i quickly called up my guy in the bank who was able to put a restriction(block) on the account. they hard already withdrawn up to 64k, what is happening is really a shame as i was made to understand that i fell victim to it because i had not changed my card to the new & secure chip and pin verve card. i found that annoying because no one ever told me to come get a new secure card. All they did was to ask me to write a letter of complaint which after 2days a letter of acknowledgement came in via dhl and some dude called me from lagos to appologise and tell me they were investigating, |
| Re: Current Chronic Theft In Nigeria Banking System by skalamanga: 12:57pm On Jan 20, 2010 |
@jas o just tell your guy to take heart and try not to think about that money again as i have not heard or seen any one get a refund from these banks out of an account that was purely not their creditors fault. as for me i have since gone back to the good ol banking days of queing up and getting my hard earned cash over the counter, nothing can ever make me use an atm again be it chip and pin or potatoe and thread.finito! |
| Re: Current Chronic Theft In Nigeria Banking System by deliverus: 1:03pm On Jan 20, 2010 |
skalamanga: Which "Investigating"  If I where you, count that money goodbye  |
| Re: Current Chronic Theft In Nigeria Banking System by Carlosein(m): 1:18pm On Jan 20, 2010 |
skalamanga: Heeheee LWKMD! |
| Re: Current Chronic Theft In Nigeria Banking System by larrybaby: 1:22pm On Jan 20, 2010 |
yours was even better, mine was bad.same with this so called GTBank in december 09. my ATm was not working, went to the bank to complain on this, i was made to know my account is dormant for a while that i need fill a re-activation form thats why my atm is not working. i did fill the form waiting for the notification of the account re-open, two days after, was on my sytem checking my mails when i saw a debit on my account, quickly check my mail for the details, could not see the mail in there but caught a peep of the debit notification, went to the nearest ATm machine to me to check what was going on, my card still not working as in previous day, called the bank to verify, then was made known almost all my money is gone. 400k off my account just like that under two days, when offically the bank wld tell u u can't withdrawl more than 60k in a day.( the thief even went to GAMEs TO SHOP WITH THE CARD). THEN I went to the bank to log complain, wrote a letter in respect of this, not even a call from them to apologise or tell me how this happened. if me the real owner of the account can't use my card and one stupid fool was out there, stealing my money with another card and the bank are telling me they don't know abt this? will forever not believe the or this so called GTBank again. but i can't wait to see God judgement on all those involved. even banks now are not save of keeping money nowadays again, especially GTBank. |
| Re: Current Chronic Theft In Nigeria Banking System by 702: 1:23pm On Jan 20, 2010 |
The new magnetic stripe card is better of and more flexible than the normal 1. Enhanced security features, and maybe extra limits for wivdrwals |
| Re: Current Chronic Theft In Nigeria Banking System by deliverus: 1:42pm On Jan 20, 2010 |
larrybaby: Haaaaaaa 400K  and even went to Games to help himself out Waooo!! PELE OOOOOOOOOOOO  |
| Re: Current Chronic Theft In Nigeria Banking System by Afam(m): 1:47pm On Jan 20, 2010 |
702: Same difference as regards the new cards. The operators simply do not understand the underlying technology, they simply pay for whatever is touted as the latest technology while believing all the marketing gimmicks without the slightest clue about tweaking or protecting data. It is a real shame. I have had to deal with both banks and card processors that cannot implement anything that is even slightly different from the original card solution which means they don't have competent programmers to program these cards to implement extra security related tasks to safeguard customers information. Personally, I withdraw any money that is paid into the only account that has an ATM card attached to it. |
| Re: Current Chronic Theft In Nigeria Banking System by edoyad(m): 1:58pm On Jan 20, 2010 |
Guys it happens every where even abroad, but on a lesser scale. A financial adviser on zoneclub(tvchannel) once told viewers to always keep a seperate account for using your debit cards. By so doing you control the amount of money that you stand a risk to lose against fraud. So your real account can hold your savings and card account hold that 10 or 20k you might need on sunday afternoon shack and watch premier league. |
| Re: Current Chronic Theft In Nigeria Banking System by switosman(m): 2:07pm On Jan 20, 2010 |
UBA again, its like some fellows in UBA are into ATM fraud. My boy called me the other day with a story of losing money in his ATM account. imagine, an ATM machine siezed his card and because he was to go to site he couldnt go to collect it, from there he forgot to go for it, only for his to withdraw with a check and he was told no money! now its all about writing reports. a card that got stuck in atm machine was used. |
| Re: Current Chronic Theft In Nigeria Banking System by igeluma: 2:13pm On Jan 20, 2010 |
Atm card problem in defrauding is becoming in thing in our banks ,Our national assembly should make law to deal with offending banks who refuse to the latest security apparatus to be put in place to protect customers.And all ATM mahines should be relocated to bank premises,to prevent atm scammers from duplicating customer's pin. |
| Re: Current Chronic Theft In Nigeria Banking System by BabaOnileK: 2:16pm On Jan 20, 2010 |
I think banks should adopt a practice of shielding their ATMs from direct view of nearby residential houses. I was at GTB Okota Branch and when I looked around, I noticed that the nearby house had windows of flats overlooking the ATM machine. Nothing stops a dubious fellow from using telephoto lens to get card details. In addition, I think people should start using accounts not linked to ATM to keep huge sums. Like I insist my GT Max account should NEVER be linked to my ATM. Find out about COT-Free accounts and insist that they be not linked to your ATM. You can then keep a max. of 30k in your current/savings account. |
| Re: Current Chronic Theft In Nigeria Banking System by sholasys: 2:38pm On Jan 20, 2010 |
This fraud are perpetrated with the conjunction of some bankers. This fraudulent bankers takes opportunity of having access with customer details, collide with scamers then clone a card. They study accounts, knows which one is active or loose. I might not have physical prove but i have read a lot about ATM scam involving bankers. |
| Re: Current Chronic Theft In Nigeria Banking System by bodsibobo(m): 2:50pm On Jan 20, 2010 |
Guys it happens every where even abroad, but on a lesser scale. OMO, GBABISKI!!!! |
| Re: Current Chronic Theft In Nigeria Banking System by deliverus: 2:51pm On Jan 20, 2010 |
The truth is Nigerian banks are good at deploying new technology but never good at protecting it. We are yet to get to the stage where hackers would start bringing down their network and steal everyones money. |
| Re: Current Chronic Theft In Nigeria Banking System by KlinBoy: 2:54pm On Jan 20, 2010 |
Im not saying it doesnt happen. there is this case of a guy who said his 75k was deducted via ATM without his knwing. the bank insisted he used teh atm but he vehemently denied causing mayhem in the bank hall. fortunately, the atm machine has a secret camera that snaps u once u withdraw. he was called into an office and asked if he has ever sent someone to use his card on his behald but he said no. the went to teh recorded dates the money was deducted and tallied it with the recorded snapshots teh atm took on those days and alas, it was teh man's younger brother. the guy recognised his brother and his was asked to bring him. the guy went home and pretended all was fine, asked his brother to follw him to teh bank so he could get some money for him to buy some stuff. the thief brother not suspecting jack went along. they got to teh bank and alas, he was shown his picture when he was using his brother's card. that was how teh bubble busted. Be careful with the court suit. the person u never knew has your password might be playing on you. |
| Re: Current Chronic Theft In Nigeria Banking System by ehie007(m): 3:22pm On Jan 20, 2010 |
switch to verve card. .its pretty safe, but i think, some of this bank staff that work in Cards unit, might be the link to ATM frauds, cos they av access to evryones card info, and can deal with these fradustars and give them details and get their cut,  |
| Re: Current Chronic Theft In Nigeria Banking System by Kx: 3:52pm On Jan 20, 2010 |
ehie007: This is the aspect i find most annoying. when a customer enters the banking hall to open account, does he have a chioce of the ATM card that is made available to him? Since there were inherent security flaws in the cards being used now, why were they deployed in the first place? He that have ear let him hear,thou shall not use ATM cards. let us wait and see if these fraudstars will not break into the much talked about secured verve cards in 6months time. |
| Re: Current Chronic Theft In Nigeria Banking System by jaso1(m): 3:59pm On Jan 20, 2010 |
Guys, the most funniest thing is that this guy requested for the statement of account so as to know when this attrocity was commited to my supprised the bank said it has no tracking sytem for weekend transaction with ATM. with this one can smell a rat. i will update you on situation of things. |
| Re: Current Chronic Theft In Nigeria Banking System by Afam(m): 4:28pm On Jan 20, 2010 |
jas_o: Tracking system? I thought a software is supposed to log every single activity that takes place on the ATM. Abi dem hire people wey dey track the thing? Sometimes, the type of nonsense you get to hear from people who jump into and use technologies they don't understand is mind boggling? |
| Re: Current Chronic Theft In Nigeria Banking System by lawrence83: 4:38pm On Jan 20, 2010 |
ATM fraud is on the f.ucking rise Even those so called bank workers are deep in this Most of them have allies outside the Bank Lost my ATM card on monday, i blocked the pin that same hour Four hours later,, this animal called me i start talking s.hit and bla bla bla I did he got my phone number i didnt know, had to call the guy that blocked the pin and he explained to me that most of them have inhouse in the banks. |
| Re: Current Chronic Theft In Nigeria Banking System by Nobody: 5:27pm On Jan 20, 2010 |
Going by all the disadvantages of ATM mentioned here, one would like to ask, how safe is the newly introduced mastercard? As in can fraudster easily penerate ones account through it? I have one from GTbank but hv been afread of using it. Pls ur response is needed. tanx |
| Re: Current Chronic Theft In Nigeria Banking System by Materese: 6:09pm On Jan 20, 2010 |
ehie007: The verve card you're talking about is it not the same one hackers are already using to skim for ATM Bank Card Numbers and PIN? Just this week alone, I have already received two emails like the one below. And the funniest thing is that I don't even have a bank account in Nigeria! Dear Card Holder, |
| Re: Current Chronic Theft In Nigeria Banking System by Materese: 6:15pm On Jan 20, 2010 |
Here is another version of the phishing e-mail. This one is supposedly from 'Central Bank of Nigeria.' You can always tell these scam e-mails by the poor business language and lack of proper editing. That apart, why would a whole CBN contact me? I don't even have an account in Nigeria! Lol! Please note that Your ATM Card would be suspended due to the emergence of the new Interswitch (Verve) Chip and Pin card. |
| Re: Current Chronic Theft In Nigeria Banking System by ucheo: 6:18pm On Jan 20, 2010 |
98% fraud on ATMS are as a result of ignorance, mis management of cards by card holders. Theirs a case in my bank where a senior lecturer in UI was threatening hell if hes money is not reversed. Lo n behold when the pix was printed it showd d man holding hes fone in 1 hand communicating with somewhere elsewhere. On that point he started begging dey shd help him out. The point of d matter is that if u r an ATM point, guard ur Card jealously, scammers only need to see the last 5 digits in ur ATM card and also guess in Pin code and dats all. They dont need ur physical card to draw, they will use it to buy air time. Decline any help from any body or allowing any body near u y waiting to draw frm machine. We all shd try n know ao all dis things work than making negative comments, any thing that has good side also has negative side and Nigerians will go many length to defraud rather than invent |
| Re: Current Chronic Theft In Nigeria Banking System by Mbeki: 7:06pm On Jan 20, 2010 |
You guys are funny with your complaints. What do you expect the banking guys to do in face of mass retrenchment and marmot unemployment waiting for them outside and lastly a failed system that will encourage them to steal knowing fully well they just have to bribe any law enforcement arm of the government to get away with their crime. this is the loophole in the whole ATM transaction when you're given an atm card, remember the unique number inscribed on the card was not generated by you. also remember that you were given a pin number you suppose to change. NOW THIS IS WHAT GOES ON BEHIND THE SCENE 1. The card guys has all your information, 2. The PIN Code you changed under normal condition should be encrypted by the program, but am very sure as you key in your so called pin code, it's exact key is being stored in a database. remember when you registered with nairaland, your raw password was sent to your email address. thats what is happening 3. The bank guys just need to have a reason to strike and your dole is gone, knowing fully well that you can't win a case against them. 4. Their software is completely hacker prone, as such,, when serious hackers storm this country, nigerian banks will be bled dry. |
| Re: Current Chronic Theft In Nigeria Banking System by Nobody: 7:15pm On Jan 20, 2010 |
I am particularly worried by the fact that I did not asked GTbank for mastercard, yet they went ahead to prepare one for me and kept on mounting pressure on me to come to my branch for collection. I think I smell something somewhere. |
| Re: Current Chronic Theft In Nigeria Banking System by alanbolo(m): 7:23pm On Jan 20, 2010 |
Thx 4 d infos, I will drop all process of obtaining ATM card, even 4 wk'nd, I'll survive with whatever cash I have handy. |
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