This is indeed an eye opener.

CriticMaestro:
Lemme get this straight
Is it that the person that stole your phone made that transaction and the bank helped u tracked him or was it a mistake done by the bank

Cc, Jeron1

u didn't read the post because its too long

go back and read it

In advance country once they is any fruad in your account all you need to do is call your bank within few days you will get your money back. You don’t need to visit the bank just a call.

maxjax:


it baffles me too....those NLer that knows all bout it are yet to repent from their evil act, hence they won't let us know in details

For GTBank, unless a fraudster has your card details and the sim with which you registered with your account, he can do no transaction on your account without you disclosing your 737 pin to him because virtually all transactions that can be completed using your 737 pin can also be completed using the last four digits of the 16 digits of your card.
The GTWorld app is too secured for a fraudster to consider an alternative.

Having your BVN and account number is not enough to even start a transaction not to talk of completing it.

Banks dey fair CBN gan..because of the penalties..any fraud on your account just call CBN

jeron1:
Dec 16th, 2017. A day I can NEVER forget hurriedly in my life. Got to shoprite Surulere, bought something's and made payment via POS. I didn't get SMS transaction Alert as my phone was stolen two days before.

Drove down to Lawanson (same place my phone was stolen) to make some transaction and found out that some money was missing from my account, . I immediately went beside my car, told my coworkers with me about the info, asked d amount and I calculated and gave them d figure, Three Hundred and Ninety Nine thousand, Four hundred and sixty Naira was missing (399,460)...

Bro please don't take this the wrong way, but your writing needs a lot of work. Narrative, grammar, structure, coherence, everything is just off.

damosade:
Nobody I repeat nobody can use your bvn to transfer money from your account, most of the fraud that takes place used to be negligence from the part of the account holder, if someone has your bvn.. Noting will happen to your fund. But don't ever release your pin to anyone,fraudsters send messages about your bvn issues, never answer them. Keep your phone always and your SIM.

Are u in Nigeria at all?

Go and sleep please

Emmybreezy:
they transferd from my account to someone else who's name is on my phone..I called the bank and they said it through *737# they used in performing the transction and I told them immediately to help me block the person account the lady that picks says you can't access the other party account which it was also a Gtb account.

Get ur statement of account also and attach it to the CBN petition

Nice one bros n thanks 4 telling us dis n d way our is d work of dos bank workers dey send away dey can do n undo

jeron1:
Dec 16th, 2017. A day I can NEVER forget hurriedly in my life. Got to shoprite Surulere, bought something's and made payment via POS. I didn't get SMS transaction Alert as my phone was stolen two days before.

Drove down to Lawanson (same place my phone was stolen) to make some transaction and found out that some money was missing from my account, . I immediately went beside my car, told my coworkers with me about the info, asked d amount and I calculated and gave them d figure, Three Hundred and Ninety Nine thousand, Four hundred and sixty Naira was missing (399,460).

I called my bank through the Number written on the back of the ATM card and they verified the transaction, I was a Victim of Sim card BVN fraud, first ever of Its kind in Nigeria .

Then I told them to Freeze the account with immediate effect.

I realise many people had also one time or the other gone through this kind of experience but they never got their money back as they didn't know the process to take on how to get their money back from Fraud that occurred on their account either via ATM, Online or any other platform

Here is what I did to get my money back as I it was a transaction I didn't authorised


1. I didn't keep quiet, I told a lot of people about the update. I wasn't ashame, I even posted on my timeline on Facebook. I wasn't looking for pity but to notify people about the new fraud in town and also seek for advice. I knew 90% of people won't even care as they will even laugh but that 10% of people that cared will give me solution and truly it worked.
One of the guys I told gave me the option that started the solution and that option was to write a letter to Central Bank of Nigeria, Lagos office

2. I immediately sent a mail to my bank, telling them about the debit that occurred on my account and it wasn't from me. The bank replied telling me they will investigate, I had to put a lot of pressure on them because these bank people can be very funny, they will tell you they are working on it but that's a lie

3. I wrote a petition/Complain to the "Banking Supervision Department" and "Customer Protection Department" of Central bank of Nigeria, Lagos Branch. The office is at the 11th floor of the building. Most of the workers don't know, some told me 8th floor, some said 5th floor. I had to walk that building up and down more than 6times that day before I could get the right office cos the access cards for the floors are different and I have to come down to take new access card for the different floor



Ps- make sure a copy with you is acknowledged, also provide your Email address and Phone number on the letter as they will reach you through the platform provided and tell you to negotiate with your bank and if no progress after 30 working days then write them again via the e-mail they used in communicating with you. I will provide screen shot of the mail they sent but I am trying as much as possible not to mention the bank. I never knew many Organisation in Nigeria work if I had not gone through it.

I was actually told at CBN that it will take time but I will surely get my money back that the CBN mandated banks to known your Customer (KYC) so since the money was transferred to Access bank then Access bank need to produce their customer

4. I wrote an official letter also to my branch bank Manager, informing him about the fraud on the account and telling him how it has really affected me. I Also made sure that a copy of the letter was acknowledged.

I knew it wasn't going to be an easy fight as the bank would want to put the blame on me but I was ready for them.

I was always sending them mail, calls via the telephones at any bank branch. I gave them heat and after 30 working days I sent a mail back to CBN telling them the bank is frustrating me and they are yet to refund my money and I didn't want to go to court because the matter was before the APEX bank. I didn't receive any reply from them

I went to a branch and also shouted and told them I want to see the branch manager which I saw her and also made my complain and she decided to also send a mail to the fraud unit.

Sorry to say, I received a call from the fraud unit after I wrote a petition to CBN and CBN queried them telling me how my money was transferred and giving me the account number and bank the money was transferred to, they also gave me the address of the person that owns the account but I refused to follow up as I told them that wasn't my work that they should do it.

Lastly, I called them from the bank and told. Them that was the last time I was going to talk to them in the issue that I will get a lawyer, told the Lady that picked the call to tell the management about my development, I actually got a lawyer but before the lawyer could write, I received my money back on Thursday hot afternoon via an alert...

Ishilove:
What I don't understand is how they got access to the OP's account via his BVN. Someone should please explain

the fraudster did the dirty job with an insider @a staff of Access Bank or the fund originating bank.

I was once in a wedding party, i was assisting my aunt with the drinks outside, a guy came out due to the noice in d hall. I overhead the guy talking to someone on phone that;

"do u have a new phone? is it a double sim phone? no problem..... One of the sim must be linked to a bank account, if there is money, my banker will pull whatever is inside the account out"

I was shocked that day. and immediately, I informed my friends elder brother to monitor the guys movement and that he is a phone thief.

we all need to be careful with our phones, especially the ones having our sim card linked to our bank account

murphymakun:
In advance country once they is any fruad in your account all you need to do is call your bank within few days you will get your money back. You don’t need to visit the bank just a call.

If my bank notices transactions that flags my known pattern then they will freeze my account and call me. I don't even have to do anything.

Smart dude, lucky u!

Asour:


Perhaps with the Know your bank (KYC)and BVN initiatives, banks have virtually all they need to track transactions and the individuals behind transactions from end to end.
Imagine that this individual transferred this amount to another account or worse still withdrew it in cash. It leaves a trail either of the receiving account(s) or the individual himself. How? Say the individual/swindler has a BVN number and he decides never to operate the account with which he swindled this sum into, the BVN is a Unique number that leaves a trail on all transactions one is involved with across all banks/ financial institutions and Identity records in the country.
so unless the banks aren't being forthright, The swindler would almost certainly be caught since he would at least be involved in an official financial transaction throughout his lifetime.

Another trick fraud stars uses this days is to request for your bank account number, that they have some monies to transfer to it, and that wen you receive the alert, you should pls help them do the withdrawal, but the banks are equally smarter. Wen cases of fraud is reported, to them "fraud unit" they first check which account the first money was transfered to, and they will go after that fellow with law enforcement agent, and he or she will start naming names of how the money came into his account, one by one, they will be picked up.


The irony of it all, never give some one ur account number to receive money for him or her, except u know the person very well.

Kaxmytex:
Baba, e no easy o....
3month tussle no be beans..

I love ur fighting spirit, how i wish all nigerians could have this...

By the way, make we tok beta thing, i go mail you my acct number, just do the needful by paying an offering plus tithe and Please, dont let freeze know o coz i cannot let one foreign albino to come and subzero me..
.

guy i luv ur spirit too atleast u can beg, am on d queue to incase there is left over

Simonrom:


For GTBank, unless a fraudster has your card details and the sim with which you registered with your account, he can do no transaction on your account without you disclosing your 737 pin to him because virtually all transactions that can be completed using your 737 pin can also be completed using the last four digits of the 16 digits of your card.
The GTWorld app is too secured for a fraudster to consider an alternative.

Having your BVN and account number is not enough to even start a transaction not to talk of completing it.

I dislike pple like u

u just talk with blind confidence as if u are the one that designed the GTBANK app,

deliberately misplace ur phone that has ur sim card linked to ur Gtbank account, if those advanced bad boys will not make u shed tears.

u just argued blindly.

Those bad boys have insiders in those banks, some of those idiots wearing suits and slim tie and working in these banks connive with these phone thieves. I know someone in my area that has a savings account with GTBANK along CMD road Magodo, same thing happened to him last year. I was shocked that, with just a misplaced phone, his little money was wiped out

haibe:


Is it possible to commit fraud by having BVN alone? Bvn in itself is very easy to generate. I'm not sure how fraud can occur because someone knows your BVN. I can generate 10000 BVNs now if i want to. It's as easy as generating MTN numbers.

I think this is what they do, after getting ur bvn number through the normal *560...#, remember they have ur sim card right from there they'll be trying different banks code eg gtb *737# and likely complete the transaction with the last four bvn numbers.

Simonrom:


For GTBank, unless a fraudster has your card details and the sim with which you registered with your account, he can do no transaction on your account without you disclosing your 737 pin to him because virtually all transactions that can be completed using your 737 pin can also be completed using the last four digits of the 16 digits of your card.
The GTWorld app is too secured for a fraudster to consider an alternative.

Having your BVN and account number is not enough to even start a transaction not to talk of completing it.

perhaps the OP stored his card detail on his phones contact?

jeron1:
Dec 16th, 2017. A day I can NEVER forget hurriedly in my life. Got to shoprite Surulere, bought something's and made payment via POS. I didn't get SMS transaction Alert as my phone was stolen two days before.

Drove down to Lawanson (same place my phone was stolen) to make some transaction and found out that some money was missing from my account, . I immediately went beside my car, told my coworkers with me about the info, asked d amount and I calculated and gave them d figure, Three Hundred and Ninety Nine thousand, Four hundred and sixty Naira was missing (399,460).

I called my bank through the Number written on the back of the ATM card and they verified the transaction, I was a Victim of Sim card BVN fraud, first ever of Its kind in Nigeria .

Then I told them to Freeze the account with immediate effect.

I realise many people had also one time or the other gone through this kind of experience but they never got their money back as they didn't know the process to take on how to get their money back from Fraud that occurred on their account either via ATM, Online or any other platform

Here is what I did to get my money back as I it was a transaction I didn't authorised


1. I didn't keep quiet, I told a lot of people about the update. I wasn't ashame, I even posted on my timeline on Facebook. I wasn't looking for pity but to notify people about the new fraud in town and also seek for advice. I knew 90% of people won't even care as they will even laugh but that 10% of people that cared will give me solution and truly it worked.
One of the guys I told gave me the option that started the solution and that option was to write a letter to Central Bank of Nigeria, Lagos office

2. I immediately sent a mail to my bank, telling them about the debit that occurred on my account and it wasn't from me. The bank replied telling me they will investigate, I had to put a lot of pressure on them because these bank people can be very funny, they will tell you they are working on it but that's a lie

3. I wrote a petition/Complain to the "Banking Supervision Department" and "Customer Protection Department" of Central bank of Nigeria, Lagos Branch. The office is at the 11th floor of the building. Most of the workers don't know, some told me 8th floor, some said 5th floor. I had to walk that building up and down more than 6times that day before I could get the right office cos the access cards for the floors are different and I have to come down to take new access card for the different floor



Ps- make sure a copy with you is acknowledged, also provide your Email address and Phone number on the letter as they will reach you through the platform provided and tell you to negotiate with your bank and if no progress after 30 working days then write them again via the e-mail they used in communicating with you. I will provide screen shot of the mail they sent but I am trying as much as possible not to mention the bank. I never knew many Organisation in Nigeria work if I had not gone through it.

I was actually told at CBN that it will take time but I will surely get my money back that the CBN mandated banks to known your Customer (KYC) so since the money was transferred to Access bank then Access bank need to produce their customer

4. I wrote an official letter also to my branch bank Manager, informing him about the fraud on the account and telling him how it has really affected me. I Also made sure that a copy of the letter was acknowledged.

I knew it wasn't going to be an easy fight as the bank would want to put the blame on me but I was ready for them.

I was always sending them mail, calls via the telephones at any bank branch. I gave them heat and after 30 working days I sent a mail back to CBN telling them the bank is frustrating me and they are yet to refund my money and I didn't want to go to court because the matter was before the APEX bank. I didn't receive any reply from them

I went to a branch and also shouted and told them I want to see the branch manager which I saw her and also made my complain and she decided to also send a mail to the fraud unit.

Sorry to say, I received a call from the fraud unit after I wrote a petition to CBN and CBN queried them telling me how my money was transferred and giving me the account number and bank the money was transferred to, they also gave me the address of the person that owns the account but I refused to follow up as I told them that wasn't my work that they should do it.

Lastly, I called them from the bank and told. Them that was the last time I was going to talk to them in the issue that I will get a lawyer, told the Lady that picked the call to tell the management about my development, I actually got a lawyer but before the lawyer could write, I received my money back on Thursday hot afternoon via an alert...

I just have to quote this write up. Never say never, it could be of great help to me or someone .

kindredspirit:
It's still a headscratcher to me how thieves can steal money from someone's account using just their BVN. Is the BVN now a password or PIN that is used to complete mobile transfers or USSD transactions ?

The only transaction that one can execute without a PIN, as far as I know, is buying airtime on THE NUMBER REGISTERED on your bank account. For example GTB : *737*1000# will credit you straight away with #1000 worth of airtime on your number that is tied to your Bank account. To even buy airtime for 2nd party phone numbers, you will be required to type in your 4-digit PIN to complete the transaction.

I still find this baffling. Or is there something we aren't being told. Apparently the system isn't as secured as we are led to believe. Even with my phone and details my pin is in my head how do they bypass it. Unless there are insiders in the game.

Xmen149:
i have heard that transactions made over pos are not traceable (according to banks). the latest now is they kidnap someone and use their atm card to do transfere via pos and thats all,.

is this traceable pls i have alot of friends who are victims but their banks let them down and they allowed the case fly

This is a lie. The recipient account is named on the debit alert. A name must appear because that atm is linked to an account.

Coldfeets:


You still didn't explain anything.

How can you take my money by just knowing my bank account?

You be winch abi wetin?

How can you clone my ATM card if you never see the card at all?

Assuming say you no hol' my GTB token, tell me how the money wan take comot from my akant?

bro what they really need is ur sim card connected to your bvn, once that is gotten , they would proceed with the transaction cause OTP would be send to that particular number

This is interesting

Well mine wasn’t a fraud .. but a double debit on my dollar master card while out of the country . I copied the ED in charge of that division . The money was reversed within 4 hours after there was an initial 3 months delay !!

SamuelTurner:
Those bank staffs are funny sometimes.
I remembered when I went to wema bank in sagamu to make some deposit, I got there around few mins after 2 and I was told that the network was bad due to the weather. I waited patiently till 25 mins after 3 and the funniest part was that the queue I am wasn't even moving at all so I walked to the cashier to inquire about what happened and the lady answered nonchalantly saying that shebi she don talk before say the network no good.
I was mused with her reaction but I just overlook it and. I glanced at the monitor and to my surprise, I saw nairaland homepage on the monitor. I was furious because she kept so many people on the queue and she was busy browsing under the excuse of bad network.

I just shaked my head and walked out of the banking hall.

Lol. Thats doesnt mean 'network" was available. The infrastructure might have been down. These things are just generally termed "network".

xule20:

I think this is what they do, after getting ur bvn number through the normal *560...#, remember they have ur sim card right from there they'll be trying different banks code eg gtb *737# and likely complete the transaction with the last four bvn numbers.

Some banks allow you authenticate a transaction with just 4 number of BVN? That is stupid,,

KingOfSkills:
I dislike pple like u

u just talk with blind confidence as if u are the one that designed the GTBANK app,

deliberately misplace ur phone that has ur sim card linked to ur Gtbank account, if those advanced bad boys will not make u shed tears.

u just argued blindly.

Those bad boys have insiders in those banks, some of those idiots wearing suits and slim tie and working in these banks connive with these phone thieves. I know someone in my area that has a savings account with GTBANK along CMD road Magodo, same thing happened to him last year. I was shocked that, with just a misplaced phone, his little money was wiped out

At the end of the day, you agreed with me that it's impossible to complete a transaction on an account without having the account card details or 737 pin and the registered phone number.
Even though I'm not trying to argue with you, all your assertions may be true but invalid.
Thanks for disliking me but I don't like you either

Maybe we should start using pin code for sim card. Maybe that would save us from these fraudsters. I actually thought about it too

Izabel:
How To Earn ₦500 Free Airtime Or More Everyday Using Opera Mini

How,please.

maxjax:


perhaps the OP stored his card detail on his phones contact?

Perhaps

Chidonc:

bro what they really need is ur sim card connected to your bvn, once that is gotten , they would proceed with the transaction cause OTP would be send to that particular number

but I thought that before an OTP is sent......one must have entered the right password initially

maxjax:


but I thought that before an OTP is sent......one must have entered the right password initially

normally there is always an insider

I immediately went beside my car, told my coworkers with me about the info, asked d amount and I calculated and gave them d figure


This paragraph is not making sense. Sorry to say

Another question is
What if you are the one that connived with the thief by throwing away your phone for him to come and pick and withdraw the money?