Infogetong:
This is getting outrageous. !

Robbing with pos ?

When they tell government to invest in Education they will refuse, no see the brainless robber thinking he'll just work to the bank and withdraw the money or use ATM or transfer.

From the person or business that registered the pos download to the bank or agent that registered it for them are in for a bigger trouble, except they people that were rubbed are also uneducated .


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mudility:
I think you guys did not read the post to understand the method the criminals are using. The pos is not being used to withdraw or transfer the victims money but used to confirm the pin then they will proceed to the nearest ATM to withdrew from the stolen card.

So with the above the bank can’t be held responsible because the transaction from the victims card will only show atm withdrawals without any trace to a pos.

The solution to the above is simple if our bank will be willing to implement this suggestion am about to give.

Our banking system should develop a kind of login history sent to our banking portal anytime we slot our ATM card in any device like when you login your email to a new device you see the notification. This notification from the login of our card history will be seen in our bank account whenever we go make any complaint in the bank. By this they will have the pos details and time the card was longing.

Like this comment If you believe the above solution will work.

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.

Xisnin:

I don't know how POS transaction works but it will be a security nightmare for a POS to confirm pin without network authorization.

I was thinking from the angle of general computer authorization security technologies which I
believe was adapted to POS terminals.

Imagine I collected a new card today and took it to an old POS stand.
How would the machine "know" the correct pin without being told by my bank(network communication)?

Perhaps, the process you describe applies to magnetic stripe cards which have been largely phased out in Nigeria?

bigtt76:
Your PIN is stored on the chip encrypted but your other bank details are not unlike the mag stripe cards.

The POS you're using is not connected to your bank and would be a waste of time for it to first connect to your bank to verify it first before allowing you to proceed with your transaction.

If you can, anytime you go to a grocery store for purchase, try paying with your card on the POS and after entering your PIN watch to see what happens after you enter your PIN and the message 'PIN CORRECT' is displayed

Royruky:


Nice suggestion, however, the money is not transferred into any account. The POS is used to CONFIRM if the pin to the ATM card is correct. They thereafter proceed to an ATM to withdraw the cash.

Security measures should be put in place to track anywhere an ATM card is activated whether or not any purchase was made. In essence, once an ATM card pin is confirmed, the ATM card should leave digital signature that can be used to trace it.

massingale:
POS must be programmed in such a way that when a card is slotted in it for PIN verification atleast, it shd record the ID of the POS. Not until a transaction is made.

Or asking for pin after amount has been entered, not PIN before inputting amount.

By these, POS robbery can be checkmated !!

nairavsdollars:


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

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

Cholls:
my brother stop acting intelligent in ignorance. Read the write-up.

excerpt:

" The process is usually the same. The robbers break into
a house at night or any time of the day. And with
guns held to their heads, victims are ordered to
furnish their ATM cards as well as disclose their pin
numbers, which are then confirmed with a PoS device
before the cards are taken away. The robbers then
proceed to withdraw as much cash as possible before
daybreak when the incident is reported and cash with­
drawal stopped."

Enyimbamercedes:
As a business owner, if you need a POS, banks will be asking for all sorts of requirements but Armed robbers will be using pos!!!

How is it not possible to track the funds to the account that the POS is linked to

Bank staff are complicit in this

Xisnin:

I get your explanations.

But a few times I entered incorrect pins at money mobile agent terminals, they don't know my pin is incorrect until a response is obtained from the network. Are the machines too slow that I have to wait as long as required to carry out an actual transaction?

It is time to disband POS terminals that verify pins offline because they create "perfect crimes" opportunities for criminals.

I think the same process is obtained at ATM terminals, it doesn't tell you invalid pin until you send a transaction for
processing.

nairavsdollars:
how did POS even get into the hands of armed robbers?

r4roty:
Gbam your head dey there! The banks requires a dynamic/proactive/adaptive "Leadership and Change" Managers in place who's mandate is to make cyber security and FIREWALLING cyber crimes a topnotch by deploying high integrity ICT systems. The banks should be able to tweak the software of the POS to enable a digital handshake betw the victims ATM card and any POS used so that when a report is made by the victim to his bank, such POS usf can be easily traced and the merchant assigned such pos can be apprehended.

bigtt76:
The POS the mobile money agents are using are different from those of the bank issued POS terminals. The mobile money agents are actually communicating with their platform's infrastructure which has the option to debit your card and credit their bank account while they use the same POS to debit their wallet with the mobile money company.

So in essence, your card is being debited mimicking the same process you use to debit your card while carrying out an online web transaction whereas the conventional POS at the grocery stores work through a different path see below

Grocery Store POS
Customer ---> POS terminal ---> PTSP ----> Acquirer Bank ---> Card Scheme Operator --->NIBSS ---> Card Issuing Bank

Mobile Agent
Customer ---> POS Terminal ---> Mobile Money Operator --->Payment Service Provider ---> Acquirer Bank ---> Card Scheme Operator ---> Card Issuing Bank

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.

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.

Tetrahedron:
Who told you that its not the bankers themselves using other people’s POS to rob or rent it out to armed robbers!

See it is a very easy fix, get the banks to pay any POS robbery!

Banks are thiefs

LegacyB:
Yes I agree CBN should be blamed, they cashless crusaders are not acting it all.How can withdrawals of over N200,000 be made from POS agents without a trace. This is even worse than POS robbers . Anyone can just steal your card and PIN and make withdrawals from these agents and no one can trace it.

Dashingprince:


Exactly...this kind of thing can easily be solved following this simple and common principle..But Nigeria, I don't know were it is going...probably the pit.

massingale:
POS must be programmed in such a way that when a card is slotted in it for PIN verification atleast, it shd record the ID of the POS. Not until a transaction is made.

Or asking for pin after amount has been entered, not PIN before inputting amount.

By these, POS robbery can be checkmated !!

mhychophelha1:
I av also fall a victim of this, I got my phone lost here in ekiti and when I retrieved my line back a week after, all the money in my account as been withdrawn. The alarming part is that when I went to my bank at ado to complain about, my statement of account shows that d money was been withdrawn at Lagos from ATM machine and I av my ATM with me. In short that was when I realized that they use both my phone number and d BVN I stored on the phone to carry out the operation. To me I think what d bank can do on this for good verification is to install CCTV decoder that can only picture d face of the withdreawer or better still programme the ATM machine to ask for names and ur FINGERPRINT...... I think with that we can curtail and trace the perpetrator easily........ [color=#990000][/color]