Branzy:
This EFCC won't clampdown on betting company which they use as medium to steal people money. How can a pos operator know a fraudulent transaction

What is this jcc saying?

After I did a withdrawal from a POS I started getting notifications in my email from Amazon about placing order with them. First it was from Amazon uk then amazon Germany,had to go and block the atm and collect a new one since then the mail's have stopped .


So dear efcc, some of this pos shops are operated by yahoo boys.

How will the POS agents keep the identity of the customers patronising them or they advising them to install CCTV camera in their shops?

Bvlgari:
very good...but a quick question...how would they know a fraudulent transaction? like how would they know a transaction they are about to carry out is fraudulent or should they just start profiling all their customers?

This new guy just dey over do.

FalseProphet1:
I see confusion, I see innocent people being arrested, I see people avoiding using POS due to fear of being branded a criminal, I see long and frustrating queues on various ATM stands, I see people resorting to using "Kolo" and other traditional means so save and withdraw their money. This I have seen.

You see blindly

Bluffly:

The answer is have a structure that prevents that. Simply look for a means to ask for identity from customers to prevent fraud.

You're still saying the same thing with the person you quoted, you didn't proffer any solution.

The unprofitable POS business is becoming more unattractive by the day. POS is the best thing that has happened to the banking sector in the last decade.

This is very important. I know a guy from my village who goes around defrauding people. He will after convincing his victim, go to POS operator and request for the account of the POS guy. He'll use it to withdraw the money he had already succeeded in scamming the owner. But in all these, he will never use his own bank account.

Na so one pos shop in Abuja chop my 50k the night before I left Nigeria.

I went to withdraw money, after typing in my password the pos machine developed problem and I got debited but the pos machine said sth like error, the guy told me I would be reversed.

I withdraw again with another pos.

Since that time till now no reverse, I have contacted my bank they said transaction successful.

Na so that one use go

Bvlgari:
very good...but a quick question...how would they know a fraudulent transaction? like how would they know a transaction they are about to carry out is fraudulent or should they just start profiling all their customers?

Anybody that’s wanting to use POS should have a valid ID..

Be it school or work place or voters card.

udemzyudex:


You're still saying the same thing with the person you quoted, you didn't proffer any solution.

Bvlgari:
very good...but a quick question...how would they know a fraudulent transaction? like how would they know a transaction they are about to carry out is fraudulent or should they just start profiling all their customers?

Solution to what. He ended by saying to profile their customers that's what I seconded. Can Bank know a fraudulent transaction? They can only try to prevent and if it happens have a structure that can serve as lead to arrest and deter others from doing same to a reasonable extent

Bluffly:


Solution to what. He ended by saying to profile their customers that's what I seconded. Can Bank know a fraudulent transaction? They can only try to prevent and if it happens have a structure that can serve as lead to arrest and deter others from doing same to a reasonable extent

so what would you have the operators do? Give customers form to fill? Will they also vet the data collected, like the name, address, phone number etc?

Bluffly:

The answer is have a structure that prevents that. Simply look for a means to ask for identity from customers to prevent fraud.

You think a fraudulent person will present his true identity?
Funny.
I only pity innocent pos operators.

So you taught this 2014 where you can just pick your atm card from the bank and start using.

All cards must be authorized by the bank, wether cloned or new.

Once you cloned a card on their server it will be showing duplicate and that means, you're in big shit.

rookidmart:

Good questions.
Fraudulent transactions = obviously fraudulent transactions that you know are not legit.
Eg, a friend of yours or whoever at all, by whatever means finds or clones a card, and comes to you to withdraw (or "cash out" like the young ones say) from the account, when you clearly know that said friend is not the owner of the card and it was obtained illegally.
Also as a POS operator you're not supposed to record details of a customer's card, or clone the card, so you can make unauthorised withdrawals from their account.

To answer your question, yes, by law from the central bank, and rules from the bank, POS operators are actually meant to do KYC for customers (I think there are different levels for different transaction types and amounts) before letting them use your POS. So in case you later find out the transaction you did was fraudulent, and you have nothing to show the police or bank when they're looking for the person who did the unauthorised transactions, you will not be held liable.

Prussian:


Forget long story, ask them how their former Chairman ended up and why they didn't investigate him.

Nigerian are quick to forgetting the past. That is why the country won't get better. They keep shouting yahoo boys this,fraudsters that. Why is Magu ,their ex chairman. He said he gave Vice president money. Nigerians don forget. I even heard their new chairman was mentioned in a fraud related deal before. Efcc na for poor people jare.

How feasible is it for the operators to take records and identity of every withdrawal? I want to withdraw 20k or less you ask for my details and take copy of my ID? I don't think the POS withdrawal point poses so much money laundering risk because the money is being withdrawn from the conventional banks who should already have those records and done due diligence on the inflow. Besides the withdrawal limit at the POS am sure is pretty small.

SpaceAngel:
If POS operators are those chaps that stay by road side and people pay some amount to withdraw money then it is not possible as they are I'll equipped to handle such. How can they document transaction details with info of clients? On what will they do that. Some are not even educated.

The business is not meant for uneducated person bro.

GeneralPula:


Anybody that’s wanting to use POS should have a valid ID..

Be it school or work place or voters card.

My brother if you're the type that collects ID card before transacting, then your customers should be less than 10 a day. Or even lesser. These customers don't even trust us to the extent of giving you ID or some see it as stress and thereby prefer the ones that won't stress them.

It's like Efcc under Buhari have been reduced to boy scouts who only chase rats. First it was Yahoo boys now it's pos operators. So they mean all the big time criminals and looters have all been killed by covid. Nonsense. Everything Buhari touches turns to dust truly

Abeg,...are the POS operators suppose to buy a copier and keep photocopies of identity cards........and how are they suppose to confirm which identity is fake or authentic...SMH

Ishilove:
I don't want to use my ears to hear about these useless EFCC people. Criminals

Wetin dey do you

rookidmart:

Good questions.
Fraudulent transactions = obviously fraudulent transactions that you know are not legit.
Eg, a friend of yours or whoever at all, by whatever means finds or clones a card, and comes to you to withdraw (or "cash out" like the young ones say) from the account, when you clearly know that said friend is not the owner of the card and it was obtained illegally.
Also as a POS operator you're not supposed to record details of a customer's card, or clone the card, so you can make unauthorised withdrawals from their account.

To answer your question, yes, by law from the central bank, and rules from the bank, POS operators are actually meant to do KYC for customers (I think there are different levels for different transaction types and amounts) before letting them use your POS. So in case you later find out the transaction you did was fraudulent, and you have nothing to show the police or bank when they're looking for the person who did the unauthorised transactions, you will not be held liable.

Which law says pos operators should do kyc?
Can you quote the law?

FalseProphet1:
I see confusion, I see innocent people being arrested, I see people avoiding using POS due to fear of being branded a criminal, I see long and frustrating queues on various ATM stands, I see people resorting to using "Kolo" and other traditional means so save and withdraw their money. This I have seen.

Wake up from ur dream
Or stop sniffing cow shit

FalseProphet1:
I see confusion, I see innocent people being arrested, I see people avoiding using POS due to fear of being branded a criminal, I see long and frustrating queues on various ATM stands, I see people resorting to using "Kolo" and other traditional means so save and withdraw their money. This I have seen.

Are you one of naija's ubiquitous prophets or just having fun mimicking the fraudsters?

Bvlgari:
very good...but a quick question...how would they know a fraudulent transaction? like how would they know a transaction they are about to carry out is fraudulent or should they just start profiling all their customers?

ID that matches name on card...with your face on it.

FalseProphet1:
I see confusion, I see innocent people being arrested, I see people avoiding using POS due to fear of being branded a criminal, I see long and frustrating queues on various ATM stands, I see people resorting to using "Kolo" and other traditional means so save and withdraw their money. This I have seen.

It should be: "These, I have seen".

Bvlgari:
very good...but a quick question...how would they know a fraudulent transaction? like how would they know a transaction they are about to carry out is fraudulent or should they just start profiling all their customers?

The don't need to know that, all the need to do is keep records of the person that comes to transact with them. EFCC will identify fraudulent transaction, trace it to the POS agent then the agent will produce the customers details while EFCC will go after the person.
Example, if someone come to transact, ask for valid ID, record the name, phone number, date and ID number against the amount. That is enough for EFCC to work on if along the line there is a pop up, indicating that the transaction is a fraudulent one.

FalseProphet1:
I see confusion, I see innocent people being arrested, I see people avoiding using POS due to fear of being branded a criminal, I see long and frustrating queues on various ATM stands, I see people resorting to using "Kolo" and other traditional means so save and withdraw their money. This I have seen.

You see nothing, you are not different from the fake prophets we complain about. Let me ask you few questions
1) do you believe one can carry out fraudulent transaction using the POS channel
2) if your answer to no1 is no, you need help but if yes, tell us how EFCC can track down such individuals without their informations?

FalseProphet1:
I see confusion, I see innocent people being arrested, I see people avoiding using POS due to fear of being branded a criminal, I see long and frustrating queues on various ATM stands, I see people resorting to using "Kolo" and other traditional means so save and withdraw their money. This I have seen.

I see your ekpa-amu swelling up.

Coldie:
Na so one pos shop in Abuja chop my 50k the night before I left Nigeria.

I went to withdraw money, after typing in my password the pos machine developed problem and I got debited but the pos machine said sth like error, the guy told me I would be reversed.

I withdraw again with another pos.

Since that time till now no reverse, I have contacted my bank they said transaction successful.

Na so that one use go

Something similar happened to me...the bank simply printed the query details showing that the transaction was successful,i made a photocopy and showed the pos operator.
the operator made a call to their employer and right there,my money was paid!
No be every thing u go leave esp that kind of money!
Once no one comes back for their money,the emploers make good use of it!

Bluffly:

The answer is have a structure that prevents that. Simply look for a means to ask for identity from customers to prevent fraud.

Which means..do atm ask for ur identity card before dispensing..atm have cameras,what does POS have

Lolz, chairman for POS vendors come still ATIKU ABUBAKAR ? safe transactions i see here... legit or illegit na SAFE [CODE OF CONDUCT is SAFE].