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Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines - Crime (5) - Nairaland

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Armed Gangsters Rob Homes With POS In Lagos & Ogun During Lockdown / Policeman Seen With POS, Asking A Passenger To Bring His ATM Card (video) / How POS Machines Fraudsters Operate In Nigeria (Photos, Video) (2) (3) (4)

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Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by bjbukzy(m): 10:29am On Apr 22, 2020
yinchar:
This is a no brainer issue that requires a simple fix.

All funds paid or transferred to a POS linked account should be made unavailable or kept in lien for 3 working days, will only be cleared for withdrawal or transfer after 3 working days.

That’s how’s it done in some advanced countries, even in some countries it 7 working days, some 1 month.

I don’t know why simple things are so difficult in our country.
It is actually next working day in Nigeria, and this is due to most businesses in Nigeria relying on previous day sales for their day to day running.

Most of the pos this robbers use are paga and other fincons and not exactly banks pos
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by Kokaine(m): 10:33am On Apr 22, 2020
Superjazz:
You can't blame the banks when you are robbed you report to the bank the bank trace the account into which the frivolent transaction took place and you find a way of tracking the suspect with police help.but Nigeria police and lack of commitment na 5 and 6
The trouble is... The account you trace is usually that of a victim too. They rob a persons pos first, hold him hostage, take his ATM too, then go and rob another person, send the details into the first victims account, then later take the money and leave the two victims to battle with themselves in police station

1 Like

Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by baaliyah(m): 10:33am On Apr 22, 2020
Coronavirus84:
This is the same question I always ask myself, Criminals using POS machine and haven't been trace dis while, definitely the Banks are aware of this mess. Nigeria is a scum

Read the article carefully and stop abusing your country.
They actually use POS to confirm the PIN then go to the ATM to withdraw.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by Kokaine(m): 10:34am On Apr 22, 2020
yinchar:
This is a no brainer issue that requires a simple fix.

All funds paid or transferred to a POS linked account should be made unavailable or kept in lien for 3 working days, will only be cleared for withdrawal or transfer after 3 working days.

That’s how’s it done in some advanced countries, even in some countries it 7 working days, some 1 month.

I don’t know why simple things are so difficult in our country.
they will hold their victims hostage till those days are complete.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by TemmyT002(m): 10:35am On Apr 22, 2020
nairavsdollars:


https://www.independent.ng/banks-get-knocks-over-use-of-pos-terminal-by-robbers/


They should be able to trace these things Na
If someone's card was used on a POS, the card should be registered on that POS that the bank fan access and know the owner.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by emmanuelewumi(m): 10:36am On Apr 22, 2020
God2man2again:


POS to confirm? Isn't it part of the stealing process?

The robbers are smart by not using the POS to make payments or ATM to make transfers because they can be easily traced and arrested
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by muchkay(m): 10:36am On Apr 22, 2020
DigitalBrands01:
Before nko.
You want to blame me?

I will Rather Blame it on poor Banking security or lack of it

Anyway, I will Design a company Logo for 2k Only or Website for your Product or Company. Info below
you don't charge 1k anymore?
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by Kokaine(m): 10:36am On Apr 22, 2020
Princedapace:


they only confirm the pin with the POS and go to nearest atm to withdraw using the atm card and the pin. I think the POS is to confirm the pin. The easest thing to do is to find a way to block it once they leave.. But the bloody thing is that they may come back to ur house if they are unable to use it..

And they may be brutal when they return. It may take them few days to come back.
besides, they take your phone.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by meforyou1(m): 10:38am On Apr 22, 2020
People just comment out of ignorance. the story is that the robbers use the POS to authenticate the ATM cards, then go to ATM and make the withdrawal. if money is deducted using the ATM, it will be easy to trace the merchant whose POS was used.
All the same, it is very bad for robbers to be in possession of POS

1 Like

Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by baaliyah(m): 10:39am On Apr 22, 2020
Xisnin:

It doesn't matter.
The bank can still trace the POS used for pin confirmation.

This is Sensible if Possible.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by meforyou1(m): 10:42am On Apr 22, 2020
LegoxMetahuman:




according to the post which i doubt you guys read


they dont transfer, they only use the pos to confirm your pin is correct, then take your atm card away and withdraw as much as they can before morning when bank will have time to block your card.
exactly
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by APOSTLECHUMA: 10:44am On Apr 22, 2020
You have a gun pointed to your head and you used what u have to save your life, only to turn around and blame your bank. You should rather go and do thanks giving that u werent killed. Banks can only be blamed if they refuse to release informatn on the owner of the a/c into which the money was moved into.

1 Like

Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by Amotekun777: 10:44am On Apr 22, 2020
yinchar:
This is a no brainer issue that requires a simple fix.

All funds paid or transferred to a POS linked account should be made unavailable or kept in lien for 3 working days, will only be cleared for withdrawal or transfer after 3 working days.

That’s how’s it done in some advanced countries, even in some countries it 7 working days, some 1 month.

I don’t know why simple things are so difficult in our country.

I thought the OP wrote they ONLY use the POS to verify their PIN #s.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by Coronavirus84: 10:44am On Apr 22, 2020
baaliyah:


Read the article carefully and stop abusing your country.
They actually use POS to confirm the PIN then go to the ATM to withdraw.
Then, who gives criminals the POS machine? Am I the person or the Banks
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by Nobody: 10:46am On Apr 22, 2020
nairavsdollars:


https://www.independent.ng/banks-get-knocks-over-use-of-pos-terminal-by-robbers/
Are Nigerians now this dumb ? Blame your local and Federal police for not doing their Job properly to apprehend and investigate these thieves and not the technology or its platforms...Smh...
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by Enyimbamercedes: 10:47am On Apr 22, 2020
emmanuelewumi:



Do you know that some business owners are also criminals, go to Ladipo market, computer village or Alaba market

Still begs the question; why do they not trace back the transactions to the accounts that the POS is linked to?
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by CAUSTIC002: 10:48am On Apr 22, 2020
Our stealing police taught them. its a shame.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by emmanuelewumi(m): 10:50am On Apr 22, 2020
Enyimbamercedes:


Still begs the question; why do they not trace back the transactions to the accounts that the POS is linked to?


There was never a transaction on the POS, the robbers only used it to confirm the PIN of the ATM.

They will now use the ATM to withdraw cash
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by knowhowk: 10:53am On Apr 22, 2020
DigitalBrands01:
Before nko.
You want to blame me?

I will Rather Blame it on poor Banking security or lack of it

Anyway, I will Design a company Logo for 2k Only or Website for your Product or Company. Info below
. U have business u are advertising ,comment reasonably .
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by bigtt76(f): 10:53am On Apr 22, 2020
Ok so this is what actually happens from my own understanding.

1. Your credit/debit card PIN is stored on the chip embedded in the cards (EMV cards). This was adopted years back when it was discovered mag stripe cards were easily skimmed for the stored details and cloned due to its open read/write characteristics. EMV chip cards are write once and read only.

2. POS are by standard EMV enabled meaning with the right logic coding using the device's software development kit (SDK), your PIN can be read off the chip hence why the robbers use it to confirm the PIN you give to them.

3. Banks don't assign POS to individuals but rather businesses and when a transaction is carried out, it is credited into the business' account with the bank. POS devices are expensive and not easily bought off the shelf and connected to the central clearing system without multiple level of approvals.

Any individual who purchases a POS say off Aliexpress and wants to use it for transactions needs to have it certified by the clearing house (NIBSS) and must go through POS service provider. Only a career thief would buy one and avoid all of these just to use it to skim card pins.

The question now is how do the thieves get hold of POS devices they use for robbery? The following may suffice

1. The genuinely sign up with banks as businesses to get POS terminals issued to them and use the devices part time for robbery.

2. They steal other businesses' POS terminals to use. The business owners usually don't report lost terminals to their banks to block because they will be charged for its replacement and you know, going to the police is another different ball game. So they keep quiet erroneously believing that any transaction that is processed on the stolen terminal is credited into their account and so the thief cannot get access.... erroneous thinking because also the business owner can be implicated undecided

3. The may also get it from the various fintech companies who are looking to offer the unbanked banking services. The fintechs are mostly the weakest link in ensuring financial safety. Any little mistake opens up the banking system to frauds.

nairavsdollars:


https://www.independent.ng/banks-get-knocks-over-use-of-pos-terminal-by-robbers/
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by bigtt76(f): 10:58am On Apr 22, 2020
It would be a bit difficult because the POS does not initiate network connection before confirming your pin and so no way for the bank to know.

It is only after the pin has been confirmed that the POS makes a network call first to the POS service provider for transaction validation. They then post the request to their 'middleman' bank (acquirer bank) who now contacts the card scheme owners (Mastercard/Visa or Verve) to debit card owner. The card scheme operator then contacts your bank to pass on the debit.


Xisnin:

It doesn't matter.
The bank can still trace the POS used for pin confirmation.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by Validated: 11:00am On Apr 22, 2020
I think most respondents missed the point. The robbers use POS machine for pin confirmation. Banks should move a step further by ensuring that ATM are:
1. Made inaccesible from dusk to dawn
2. Withdrawals during such times should require authetication token obtainable by biometric means. Most ATMs have finger print recognition botton but our laziness does no make us activate it.
3. POS should be made to store data about any card slotted for which a PIN was entered
4. Commercial Banks and Other POS issuers should require holders to submit electronic activities reports on monthly basis failing which such machines are blocked
5. The Police should rise to the occasion. This is the simplest case to crack.

2 Likes

Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by ayobamiakinrind(m): 11:01am On Apr 22, 2020
nairavsdollars:
na so. every dick, tom and harry have access to ATM. even police on checkpoints


Stop misleading people, I don't know what led to the situation in that pix but that's a PVC reader, not P.O.s machine.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by maasoap(m): 11:02am On Apr 22, 2020
Superjazz:
You can't blame the banks when you are robbed you report to the bank the bank trace the account into which the frivolent transaction took place and you find a way of tracking the suspect with police help.but Nigeria police and lack of commitment na 5 and 6

There have been many instances where banks refused to help
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by yinchar(m): 11:07am On Apr 22, 2020
Validated:
I think most respondents missed the point. The robbers use POS machine for pin confirmation. Banks should move a step further by ensuring that ATM are:
1. Made inaccesible from dusk to dawn
2. Withdrawals during such times should require authetication token obtainable by biometric means. Most ATMs have finger print recognition botton but our laziness does no make us activate it.
3. POS should be made to store data about any card slotted for which a PIN was entered
4. Commercial Banks and Other POS issuers should require holders to submit electronic activities reports on monthly basis failing which such machines are blocked
5. The Police should rise to the occasion. This is the simplest case to crack.
In this particular one, YES.

But there have been other instances where they robbers use the POS to steal the money, its all over in the news.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by sylva1: 11:07am On Apr 22, 2020
This is a brilliant idea.

But a client (knowing that it takes few days for funds to reflect in the vendor's account) can later call his bank to report a lawful transaction as a crime, having received the goods or services.


yinchar:
This is a no brainer issue that requires a simple fix.

All funds paid or transferred to a POS linked account should be made unavailable or kept in lien for 3 working days, will only be cleared for withdrawal or transfer after 3 working days.

That’s how’s it done in some advanced countries, even in some countries it 7 working days, some 1 month.

I don’t know why simple things are so difficult in our country.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by BabaO2: 11:08am On Apr 22, 2020
Most of the people that commented on the issue got it wrong.
The robbers are only using the PoS to confirm if the victim is actually supplying the correct pin or not, after which they go to any bank's ATM machine to withdraw.
The responsibility is on the ATM machine/application supplier, can the ATM machine track balance and PIN enquiries? If not, they should be mandated to fix that.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by achymmania: 11:11am On Apr 22, 2020
easzypeaszy:
Dey don't have sense... Banks don't gv POS to anybody..
Blame OPO and PAGA dat gives POS to anybdy on d street
who told you banks don’t give out pos He be like say you dey new to Nigeria Banking system.
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by Olarewaju89: 11:16am On Apr 22, 2020
DigitalBrands01:
Before nko.
You want to blame me?

I will Rather Blame it on poor Banking security

Anyway, I will Design a company Logo for 2k Only or Website for your Product or Company. Info below

I want to create a website, how much?
But, how will i know if you're not a scammer... Because scammers plenty for here.

1 Like

Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by chigo5(m): 11:16am On Apr 22, 2020
yinchar:
This is a no brainer issue that requires a simple fix.

All funds paid or transferred to a POS linked account should be made unavailable or kept in lien for 3 working days, will only be cleared for withdrawal or transfer after 3 working days.

That’s how’s it done in some advanced countries, even in some countries it 7 working days, some 1 month.

I don’t know why simple things are so difficult in our country.
it was withdrawn tru ATM machine do u expect dem to do transfer
Re: Nigerians Blame Banks For Negligence As Robbers Visit Homes With POS Machines by DigitalBrands01: 11:18am On Apr 22, 2020
Olarewaju89:


I want to create a website, how much?
But, how will i know if you're not a scammer... Because scammers plenty for here.
it's well

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