Stealing Money From Bank Accounts Via Phone - Business - Nairaland
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| Stealing Money From Bank Accounts Via Phone by Contumely: 11:41am On Oct 09, 2018 |
Is it possible for someone to steal my phone and withdraw upto 500k from my bank account? If yes, how and how do we prevent such? I have been arguing this since with a woman at Onitsha main market who insisted it happened to her husband. The argument started when she declined giving me a business partner's phone number on the pretext of avoiding 419. dingbang evilforest biafranbushboy mayorall justwise gazzuzz nurey egunmogaji zubby77 |
| Re: Stealing Money From Bank Accounts Via Phone by nurey(m): 11:58am On Oct 09, 2018 |
Contumely:As long as the number is tied into your account it is possible. |
| Re: Stealing Money From Bank Accounts Via Phone by Nobody: 12:05pm On Oct 09, 2018 |
Contumely: Very possible. It’ll be very elaborate and time consuming but a determined thief could get it done. Over here in the US, thief’s used to only need a copy of your bank statement. |
| Re: Stealing Money From Bank Accounts Via Phone by Contumely: 12:38pm On Oct 09, 2018 |
Dominique |
| Re: Stealing Money From Bank Accounts Via Phone by Contumely: 12:43pm On Oct 09, 2018 |
nl1960
invertedhammer
ilegend
airforce1
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| Re: Stealing Money From Bank Accounts Via Phone by NL1960: 12:54pm On Oct 09, 2018 |
Contumely: It is possible. If the owner of the phone has Internet Banking or Mobile App on it and the settings is 'remember login information', it means once any of those options is selected, it automatically logins into the application and then the person can do a transfer to another account. I think most times, transfers from such sources has a daily limit of N1m. |
| Re: Stealing Money From Bank Accounts Via Phone by Contumely: 3:20pm On Oct 09, 2018 |
NL1960:Login pin is different from transfer pin. How would he get the transfer pin? Again, no bank app saves password automatically like facebook does. It can save login id but not password. 4 Likes |
| Re: Stealing Money From Bank Accounts Via Phone by NL1960: 4:38pm On Oct 09, 2018 |
Contumely: It depends on how the application has been designed. Some applications allow you to create a beneficiary in which you use an OTP(One Time Password) sent to you to complete the creation. Once a beneficiary has been created, you do not need a pin or OTP to complete the transfer. Once the transfer is done, the person can easily delete the beneficiary. I could be wrong though. Let the person go to his/her bank. They will be able to get the audit trail of what happened. |
| Re: Stealing Money From Bank Accounts Via Phone by tripplephi: 5:28pm On Oct 09, 2018 |
firstly NO BANK ALLOWS WITHDRAWALS via ATM above 100K and same with MOBILE APP. so the 500k STORY is a lie. the hubby lied to the woman and she transferred the lie to you... IF 500K was truly withdrawn then it was not done once.... hence they could have gone to the bank to cancel the card or block the account... so another lie is around the corner. Contumely: |
| Re: Stealing Money From Bank Accounts Via Phone by GAZZUZZ(m): 5:55pm On Oct 09, 2018 |
tripplephi: GTB 500k atm do it all the time |
| Re: Stealing Money From Bank Accounts Via Phone by namedo: 5:56pm On Oct 09, 2018 |
The withdrawal limit for mobile app is 500k tripplephi: 1 Like |
| Re: Stealing Money From Bank Accounts Via Phone by dingbang(m): 6:03pm On Oct 09, 2018 |
First bank will call the number to investigate such suspicious transaction and if the fraudster cannot give satisfying answer, the account will be blocked instantly. Just like I have advised our customers, dial *894*911# from another phone incase your phone is stolen, it's that simple. |
| Re: Stealing Money From Bank Accounts Via Phone by seunoj: 7:44pm On Oct 09, 2018 |
I disaree with the position. No application driving transfers is allowed to consumate transactions without 2factor authentication. Whether hard/software token. This is being extended to used. On limits, each bank has default limits set on those e-products based on percieved risk mgt policy. While some can be increased based on request subject to a maximum limit. This position is CBN regulations NL1960: |
| Re: Stealing Money From Bank Accounts Via Phone by seunoj: 7:44pm On Oct 09, 2018 |
I disagree with the position. No application driving transfers is allowed to consumate transactions without 2factor authentication. Whether hard/software token. This is being extended to ussd. On limits, each bank has default limits set on those e-products based on percieved risk mgt policy. While some can be increased based on request subject to a maximum limit. This position is CBN regulations NL1960: |
| Re: Stealing Money From Bank Accounts Via Phone by seunoj: 7:50pm On Oct 09, 2018 |
Well, nothing is impossible. The issue here is, pple who are defrauded are mosttimes economical with the truth. There is always a point of compromise where login details and authorization codes are compromised. We should all know that our phones have moved from ordinary phones to mobile banks. The level of protection should change. Contumely: |
| Re: Stealing Money From Bank Accounts Via Phone by Nobody: 8:04pm On Oct 09, 2018 |
seunoj: This is golden. I don’t carry a phone. I carry a mobile computer, iPhone 7, which happens to have a telephone application. I treat it as such. |
| Re: Stealing Money From Bank Accounts Via Phone by Mayor555(m): 8:25pm On Oct 09, 2018 |
If I talk, most of you won't want to use any Nigerian bank again. What I experienced in January is far beyond what you guys are saying here. Kai that fraudster almost sent us to jail.. Bottomline, if you have online banking activated on your account, be mindful of who you give your account number and how you make you account number public. If you know, you know. |
| Re: Stealing Money From Bank Accounts Via Phone by Contumely: 9:24pm On Oct 09, 2018 |
Mayor555:Please could you elucidate on this. I do biz online and give my account number to many. How can one protect and guard against this? What happened in your own case. We need to learn it. Be elaborate please. 1 Like 1 Share |
| Re: Stealing Money From Bank Accounts Via Phone by Contumely: 9:26pm On Oct 09, 2018 |
dingbang: I really don't get you. .Could you paraphrase? |
| Re: Stealing Money From Bank Accounts Via Phone by seunoj: 9:48pm On Oct 09, 2018 |
Am suspecting a Sim swap case. There nothing you do when a staff of Telco and bank are involved in a sindicate. They break all supposed controls in place. Background checks and continuos monitoring is key. This does mean a good guy today will not turn bad tomorrow Contumely: |
| Re: Stealing Money From Bank Accounts Via Phone by iLegendd(m): 9:51pm On Oct 09, 2018 |
Contumely:Fear not. Before anyone gets into your account, your details must've been compromised or the bank itself must've been compromised. They need to have your password or token to get access. If they don't have this and they get excess, the loophole is not from you, but the bank. Unfortunately, the bank will deny it and put the blame on you to protect its reputation. The best thing to do with internet banking is to use token. Mobile banking uses password and if the criminal doesn't have he can't get access. Also, use GTB and have a peace of mind. GTB users do as they like because they are covered with a robust authentication. For other banks, I don't have any idea, but for GTB, nothing will happen except you want it to happen my saving your ATM's password in your phone with "My ATM Pass 5232." If they steal your phone with this kind of exposure, then sorry. If the number is linked to your bank, the more sorry. With this, the person will use the code and transfer money. Thanks to BVN, he will definitely be tracked. Modified: If it's just to give out your account number only, fear not. The only bad thing they can do is to send you a stolen money to make the police come after you. When the police comes after you, guess what? They'll make you reveal your account details and they will withdraw the money. Guess what again? The fake police and the fraudulent person who sent the money from another person's account are working as a team. When they have taken the money, in weeks or months to come, the real owner will come for your head with real police or army and label you a fraudster. 2 Likes 1 Share |
| Re: Stealing Money From Bank Accounts Via Phone by InvertedHammer: 11:50pm On Oct 09, 2018 |
Contumely:/ I thought they have tokens to authenticate transactions. The last place to get facts is in any Nigerian market. Their testimonies are as good as what you hear on Crusade arenas. It is all for the entertainment when there are no customers. / |
| Re: Stealing Money From Bank Accounts Via Phone by Fxwarrior: 2:59am On Oct 10, 2018 |
dingbang: Chai this is what I call responsive banking. First bank una carry first. |
| Re: Stealing Money From Bank Accounts Via Phone by Mayor555(m): 8:46am On Oct 10, 2018 |
Contumely: Sorry for coming late to respond.. iLegendd: ILegendd, I've gone through your comment but you don't seem to know all. come and listen too. I won't go into core details but I'll give enough and necessary information. So early this year, a guy called from Nairaland to buy a car from me. He got to my place on a Sunday and he was in haste, trying to rush things, understandable because he has to go back to Lagos(so he claimed) same day..the car he came for was a TOKS. He checked the car, drove it and in less than 15mins we were talking about payment.... He brought out his phone, same Samsung S8 edge he has been using to call and receive calls since I went to pick him in park. He did the transaction on the the phone using USSD code. He sent about a million on his phone in two splits.. 170k and 800k making 970k, did the rest on ATM. We got the alert, we checked our bank statement online everything added up well, another money was sent to that same account from another family member of ours money added up well. Fast forward to Monday morning, the money was still there. So at about 11:30am that same Monday morning, we wanted to buy a car, on opening bank app, the balance we saw was not what we had as at the morning.. We did plus and minus, the balance was short of exactly 970k... We went to the ATM before going into the bank... We checked the balance , the 970k was in ledger balance.... We sighed relieve. On getting into the bank hall, we went to our trusted person, checked the account, he said Lian has been placed on the said amount, that the transaction was unauthorized... Brb Sorry for any typo... Please don't quote me, |
| Re: Stealing Money From Bank Accounts Via Phone by Mayor555(m): 9:27am On Oct 10, 2018 |
So what happened was that, he transferred money from another person's account without the person's consent. Lest I forget, when he first called me he used a number, but subsequently, he called with a private/unknown number. So held the first number safe. Before we knew it, the two accounts connected with BVN was blocked and arrest at sight was placed on them. Wrote petition to police station(SIB) we informed the DSS.. In a week, the SIB guys tracked him and got him in alawusa in Lagos... Most amazing part is, right in the before of the O/C of state SIB, using that same Samsung S8 edge, with just the O/C's account number, he transferred money from his account to another. But from my own investigation, I gathered he somehow got hold of the original account owner's SIM card. How he did the officer's own with just account number, I don't know. But the one he did to us, he used the owner's SIM card. But before Banks could open the accounts blocked, it ran to about 4months.... With good amount of money inside them. Bottomline, when you lost the SIM that links to your account, act fast by informing your bank and do a welcome back. Spent over 200k tracking him.. Please do not quote me... Pleasee Over and out. |
| Re: Stealing Money From Bank Accounts Via Phone by Murphy2018(m): 11:24am On Oct 10, 2018 |
But can bank track de beneficial de money was sent to his account using de ussd code |
| Re: Stealing Money From Bank Accounts Via Phone by Mayor555(m): 12:30pm On Oct 10, 2018 |
Murphy2018: Yes... That's why we must be careful who we receive money from through online banking.... Because the beneficiary will be held responsible to be complicit |
| Re: Stealing Money From Bank Accounts Via Phone by Contumely: 2:10pm On Oct 11, 2018 |
Mayor555: Nawao |
| Re: Stealing Money From Bank Accounts Via Phone by bigtt76(f): 6:13am On Oct 12, 2018 |
Some banks' mobile app allows the customer to increase transfer limits on the go from the default 150k to 500k... I've done it before so I know what I'm saying. Hence I don't think it's impossible. Once the thief has your mobile device with an active phone line on it, they can do anything they wish to with your bank apps on it  |
| Re: Stealing Money From Bank Accounts Via Phone by 5tss(f): 8:24am On Oct 12, 2018 |
Contumely:Yeah thats true |
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