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"How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) - Crime - Nairaland

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"How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by leunamme93(m): 7:32pm On Jul 07
I lost my phone yesterday night, a touch light phone thinking there's little to worry about but I was wrong. There's everything to worry about especially when you are in Nigeria. The sim on the phone is tied to 3 banks.
Majority of Nigerians do this, where we use one mobile number for all our financial accounts, trusting that security measures are excellent.

Fast forward to this morning, I went to MTN office today and i was told i could not retrieve my sim since it is my brother that did the registration earlier, i've been using this same sim for over 6 years now but my brother isn't in the country but it all fell on deaf ears with we are sorry there's nothing we can do, I left their office, on my way coming I saw an MTN retail store, "retrieve your sim here" the sign board reads. I got inside there and told the rep i met everything after much pleading, it was processed for me and I've been told my sim would be active come monday evening.

I got back home thinking all was well, but something just triggered me to check my account via the app and there it was, all red and red and red and red. All I could see was debit for recharge card with amount ranging from 300-1000-5000 in multiples resulting to N37300. I quickly transferred the money I have left to my friends account.

One question that kept coming to me was; How did they do it?
I have not been able to transfer or recharge my line using that specific bank's USSD code ever since NYSC gave me the account in OT Camp in Iseyin, 2016 because it was interfering with my old account with the same bank.

It has finally has dawn on me that our banking system here has little or no triggers to the irregularities that is happening in an account. I will be going to their bank, first thing on monday to have a review with them.

I have 4 account tied to this phone number, truth is only this account had money in it. I guess they cast a wide net on all the banks using my details to see the ones that would return successful and then harvest the account.

To our bank;
1. What should one do when one's phone gets stolen or missing especially when it's on a weekend?
I know our bank uses the BVN as a primary key connecting every account to another but its clear another layer of security is needed.

2. Limit the amount value an account owner can recharge in a day. Why would a saner Nigerian recharge over 37k in this buhari economy and the bank system couldn't flag this off?

3. Dialing *565*1# is not enough to generate your BVN, it should always ask for a pin to complete this command, our programmers should think out of the box, this is too shameful. A BVN that is used as a Primary Key[b/] yet its easily accessible by any unauthorized party.

[b]My mistakes; Learn from them

1. I did not call my network provider to deactivate my line, I was foolish enough to think our banks were secure. I don't trust our banks security anymore.
Look at it this way, to recharge on your phone you need a pin to complete any transaction even if your are using a USSD code, and beside it was a touch light phone with my sim in this case not an ATM but 37k was deducted from my account with just having my sim. You see how insecure the system is?

2. Having my sim locked with a pin not just the phone would at least served as a measure of security, once it's inserted on any device it will request for a pin. I might be wrong but I'm just thinking out loud here.

The Future:
Unfortunately is sad because Nigerians will keep falling into this ordeal unless our banks wakes up.
They people that did this are not good, our banking system is just poor for any d!ck and harry to mess with.

Security: Digital security would be a niche that would be very hot with massive potential. A lot more companies (noticed the more because right now we have only few organizations with standard financial security measures)

[b]I have decided not to add the name of the bank here, because i believe same thing can happen with any other banks.
Tell me do you bank ask you for any security pin when you dial *565*0# to check you BVN Number?[b/]

Nigerian should awake because we've fallen.

Secure your SIM not just your phone alone especially when that SIM is tied to your [b]BVN[b/] which is has clearly shown to me unfortunately with an expense of 37K that it isn't secure at all.

Below are screenshots of the red to red alerts, I had to transfer the rest out of the account.

[b]Is there any hope of this money being returned to me?[b/]

I hope the mods push this to the front page, Nigerians should be aware of this flaw in the system and be careful.

19 Likes 4 Shares

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by leunamme93(m): 7:32pm On Jul 07
I did notice this on one of the receipt, it says Vas2Net Airtime Vending.

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by Millenniumlady(f): 7:40pm On Jul 07
Now that's a big money so sorry for the ugly incident

17 Likes

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by kristonium(m): 7:41pm On Jul 07
Welcome to Nigeria!
You see why internet fraudster said he could steal 1billion naira from any nigerian bank within a day?
We still have a long way to go with online security!

29 Likes

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by leunamme93(m): 7:50pm On Jul 07
Millenniumlady:
Now that's a big money so sorry for the ugly incident
I know, my main concern is how the banking system has still not found measure to protect her customers from incidents like this?
The most they do is block the account, nothing more or less.

12 Likes

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by leunamme93(m): 7:52pm On Jul 07
kristonium:
Welcome to Nigeria!
You see why internet fraudster said he could steal 1billion naira from any nigerian bank within a day?
We still have a long way to go with online security!

A VERY LONG WAY TO GO!!!

EFCC too needs to work on themselves as all i know they still need to improve.

1 Like

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by Nbote(m): 7:59pm On Jul 07
Our stupid banks are busy deducting and debiting it's customers instead of finding a way to offer dem more security..

19 Likes

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by LeHMaR(m): 8:37pm On Jul 07
See why i trust UBA, UBA bank will ask for my password just to check my account balance not to talk of transactions involving money..
Sorry though

27 Likes 1 Share

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by faithy314(f): 8:59pm On Jul 07
Exactly what happened to me,bank is gtb.the guys stole the phone from me in a napep and transferred 30k they bought credits tru my mtn sim then transferred to their numbers which I tracked all n have their numbers.I also have my IMEI phone number for tracking but sarz asking for a fee and that its 50/50 so I just shunned.
As u suggested tho,I have put a phome lock and sim lock.

8 Likes 2 Shares

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by Oluwasaeon(m): 12:22am On Jul 08
GTb also guilty of this.
My UBA and Zenith will still ask for the PIN to complete whatever transaction on the USSD platform. Sorry

12 Likes

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by leunamme93(m): 9:24am On Jul 08
faithy314:
Exactly what happened to me,bank is gtb.the guys stole the phone from me in a napep and transferred 30k they bought credits tru my mtn sim then transferred to their numbers which I tracked all n have their numbers.I also have my IMEI phone number for tracking but sarz asking for a fee and that its 50/50 so I just shunned.
As u suggested tho,I have put a phone lock and sim lock.

Thats why i didnt even bother naming the bank because i was positive it could happen with any Nigerian bank. I believe one personally locking the sim is one way of securing our account all we have to do then is just disturb the line with calls and make them switch it off, thereby rendering the sim useless because it will definitely ask for a pin when inserted any where its inserted.
Remember: If an incorrect PIN is entered more than three times, a PUK is needed!
ed!
Everyone should pay attention to this and start locking their sim.

I'm thinking of going to sars too, but i dont have the imei, who has the imei of a touch light phone grin. Maybe my own would be 40/60.

19 Likes 2 Shares

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by leunamme93(m): 9:29am On Jul 08
Oluwasaeon:
GTb also guilty of this.
My UBA and Zenith will still ask for the PIN to complete whatever transaction on the USSD platform. Sorry

I believe there's a loophole somewhere in this system, how can you just dail *565*0# and your bvn is sent without any other security pin to confirm if it is the owner performing the transaction?

Thank you.

6 Likes

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by leunamme93(m): 9:31am On Jul 08
LeHMaR:
See why i trust UBA, UBA bank will ask for my password just to check my account balance not to talk of transactions involving money..
Sorry though

when you dialed *565*0# did it ask you for a pin?
I'm sorry but i believe this scheme will work with any bank.

1 Like

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by faithy314(f): 11:42am On Jul 08
leunamme93:


Thats why i didnt even bother naming the bank because i was positive it could happen with any Nigerian bank. I believe one personally locking the sim is one way of securing our account all we have to do then is just disturb the line with calls and make them switch it off, thereby rendering the sim useless because it will definitely ask for a pin when inserted any where its inserted.
Remember: If an incorrect PIN is entered more than three times, a PUK is needed!
ed!
Everyone should pay attention to this and start locking their sim.

I'm thinking of going to sars too, but i dont have the imei, who has the imei of a touch light phone grin. Maybe my own would be 40/60.
sincerely, really?I heard its 50/50 altru some1 went with his Imei sarz just collected his 20k wothout any news
Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by leunamme93(m): 2:51pm On Jul 08
faithy314:
sincerely, really?I heard its 50/50 altru some1 went with his Imei sarz just collected his 20k wothout any news

Thanks for the headstart.
Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by hausadreturn(m): 8:22pm On Jul 09
Very unfortunate.
But you can't transfer anything in gtb without entering your pin.
Am I missing something here?

1 Like

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by dominique(f): 9:23pm On Jul 09
The moment you lose the line linked with your account, you alert your bank and tell them to disable any transactions with that line. It's after that you can now go to your service provider to block the line. These thieves can now access peoples account through the line without using the ussd codes. Sorry about the loss op, May God replace what you lost in multiples.

23 Likes

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by Offpoint: 9:30pm On Jul 09
Since the day i tried using USSD code to make transfer with my own SIM card using a wrong pin and to my greatest surprised it went through... I was thinking the bank will detect and refund the money back... but guess what? they didn't. that was when I realized our bank security system is a big mess. I just pin my sim to avoid stories that touches the heart.

5 Likes 1 Share

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by Neofingerz: 9:31pm On Jul 09
how will dangote feel if he hear this

1 Like 1 Share

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by wildcatter23(m): 9:31pm On Jul 09
Sorry about your bad experience
Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by Lexusgs430: 9:33pm On Jul 09
You don top up person phone well well....
Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by kidman96(m): 9:33pm On Jul 09
We the ordinary Nigerians are the bigger problem of this country... We complain everyday of curropt politicians hindering the progress of this country but those politicians are the product if the Nigerian society and were once like us the ordinary Nigerians... In this harsh economic settings where the government is raping its citizens from all corners we still have our fellow brothers doing this to us.... We reserve the government we get it this country and every Nigerian should be ashamed of themselves.... And I mean you reading this post...

3 Likes

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by senetorjboss(m): 9:33pm On Jul 09
Gtb is the worst... A friend had her 90k transferred without the bank doing nothing... I think this scamers work hand in hand with bank operatives

10 Likes

Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by Ayoswit(f): 9:34pm On Jul 09
Pathetic. Indeed this is Nigeria.
Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by theoldpretender(m): 9:35pm On Jul 09
Big thanks to the OP for this thread. Learned lots of things
Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by ADEWUMIMichael(m): 9:35pm On Jul 09
bro the number is there, you can use it to trace the thief
Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by 2special(m): 9:35pm On Jul 09
first suspect should be those guys retrieving your line at MTN call centres.
Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by evilspirit: 9:36pm On Jul 09
All these things are possible because Nigeria is a jagajaga country. The Number these monies were credited has a owner, in sane setting that owner will be police cell by now. It is easily traceable but huh hun our police will be asking for money to make arrest
Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by yeyeboi(m): 9:36pm On Jul 09
Ok
Re: "How N37k Was Debited From My Bank Account Through My Stolen Phone" (Photos) by Lexusgs430: 9:36pm On Jul 09
You know the person already..... Just set a trap....

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