In summary
Have three accounts one for any online transaction using bank app where you keep money for unforseen circumstances
The 2nd account should be for expenditures alone and should have an ATM card for any card related transaction
The 3rd account should be your main savings account that only means of withdrawal should be by withdrawal slip

I believe with this few points of mine you can be rest assured of your money atleast

Financialslot1:


https://financialslot.com/ways-to-protect-your-atm-debit-card-in-nigeria/

To avoid all these unnecessary avoid this, avoid that as it relates to fraud, kuku do away with debit cards. Go for Prepaid Cards.

Prepaid Cards looks and works exactly like Debits Cards but with a little and worthy differences.

Debit Cards are linked to your Bank Account...Prepaid Cards are not linked to your Bank Account.

Your Debit Card is your Bank Account....Your Prepaid Card is your wallet.

When your Debit Card details is compromised, all the money in your bank account can go for it....When your Prepaid Card details is compromised, only the amount you funded the card with can go for it. It doesn't affect your Bank Account.


SIMILARITIES
All what a Debit Card can do in terms of Transactions, Prepaid Cards too can do.

So, why no go for a prepaid card and fund it with the amount you will need per time.

WowSweetGuy:
Just block the card on the settings of the bank app. Allow only Atm/post...No mad fintech or others can do any coded deduction

Too much sense bro. Na wetin I dey do since last year

Despite warnings and social media campaigns by banks on the need for customers to protect their debit and credit cards, so many Nigerians still fall victim to card frauds which leaves them with nothing but debit alerts and a near-clean sweep or clean sweep on their accounts in some cases.

In this post, we will share some important tips on how to protect your debit card from fraudsters in Nigeria. We will also share some tips on what to do if you suspect you are a victim of card fraud.

1. Avoid using your cards(s) when dealing with PoS agents

The presence of mobile money shops or PoS agents on almost every Nigerian street has greatly contributed to the rise of debit card fraud, particularly in the past five years. Although this is not to say that mobile money shops in Nigeria are set up with the intent to steal from those who patronize them. However, there have been numerous reports about how mobile money shop agents/salespersons connive with street boys supposedly “Yahoo! boys” in sweeping clean, the bank accounts of customers who used their services, particularly those who made withdrawals. There have been reports that shop agents who sit behind desks are prone to engage in this illicit deal with fraudsters in exchange for some percentage.

In order for them to complete their fraud, all they need are your card details which consist of your 16 digit card number, your card validity details and Security (Card Verification Value) number. To get this in seconds, PoS agents have been reported to capture customers card details with their camera phones in less than 5 seconds while trying to help them initiate their original transaction then perpetrate their evil act immediately after the customers have left or most times, in the dead of the night when their victims are fast asleep and unaware of what was happening or about to. The latter is often executed by cybercriminals with sound knowledge of websites that do not require OTP to make purchases after which proceeds from the transaction will be shared based on the agreed percentage.

A report by Vanguard in November 2020 revealed how a woman got a debit alert shortly after patronizing a POS agent. An excerpt from the article reads:

Her words, “I was travelling to Ebonyi State and decided to do PoS withdrawal from an agent in Marina, Lagos. I used my Automated Teller Machine (ATM) card to withdraw N6,000. Throughout the next day, I started receiving debit alerts of sums ranging from N30,000 to N50,000. I called my husband if he was making any transactions from the account and he said no. I quickly remembered that I withdrew from a PoS agent in Lagos. ‘‘Luckily, I was with the printed slip. I called the Police and on getting to the agent stand in Lagos, the agent felled to the ground immediately he saw me. By then he had withdrawn N250,000 from my account. He returned my money and was arrested. Some of his victims were not lucky to get their money back.”

It is advisable not to use your ATM cards if you decide to patronize street mobile money agents. Options such as bank transfers and pay IDs or pay codes are less riskier compared to using ATM cards.

2. Avoid helping someone fund a betting account with your cards

Unfortunately, most compromised debit cards these days are often channelled into funding bet accounts which are untraceable, according to the debit alerts which are generated and sent to the victim’s phone. A common mistake many make is helping their friends, lovers or partners, neighbours and even family members in funding their betting accounts.

Unknown to many, most betting platforms are notorious for saving a card without the consent of the individual making the payment. While an OTP might be required the first time you are helping out, it won’t at other times if your card is saved and this means the individual can initiate several deposits into their betting account without requiring an OTP from your device. If you have fallen victim or received debit alerts claiming you funded a betting account, first find out if you had assisted someone in funding their betting account within the past three months.

3. Avoid linking your cards to unauthorized fintech apps

You are solely responsible for what happens to your debit cards and monies and this is why it is never advisable to link your cards to authorized fintech apps that either grant loans or allow you to save on their platform.

A linkage between your card and these apps means authorized transactions can be made from your bank account and your bank might not be able to help you when such withdrawals are made. If at all you link your ATM card with any of these apps, be sure to read what their company says about how they handle sensitive information such as debit cards, IDs and BVN numbers.

4. Regularly scan your phone for spyware

In an era where mobile applications can be downloaded from authorized and unauthorized sources, it is important that you periodically scan your mobile phone for spyware, particularly keylogger, which is “an insidious form of spyware”.

Spyware describes software with malicious behaviour that aims to gather information about a person or organization and send such information to another entity in a way that harms the user, according to Wikipedia.

If you have ever downloaded a mobile application outside of your phone’s authorized app place repository or you have had to turn off your phone’s security just to “install from unknown sources”, then you are at risk of having sensitive data, including your debit card details stolen.

5. Avoid using your card on cyber cafe computers or one that is not yours

Avoid using your cards on computers in cyber cafes, belonging to your friends or siblings. As unbelievable as it sounds, cyber cafes are still very much around and most people see nothing wrong with using their debit cards in making online payments for exams, professional courses or certifications.

While that in itself isn’t the problem, computers naturally save up sensitive information such as usernames, card details, passwords, etc., by storing up cookies which makes it easier to reuse later.

If you are tempted to use a public computer or one that is not yours, make sure you take of the sensitive details such as making payments on your phone first, save up your progress before switching to a computer, if you don’t have one, that is. However, be careful about the type of information you fill out in public.

6. Avoid saving cards on websites for automatic renewals

Most websites with eCommerce features allow users to save their card details when checking out in other to use them without having to enter the card details in the near future. This is a bad idea since doing this means transactions can take place on your bank account, whether or not you authorize them. Transactions such as automatic renewals, automatic upselling and cross-selling can take place without your consent and allowing this feature means you probably consented to it.

7. Periodically update your apps, PC, devices or mobile phone

Hackers find it easier to hack into outdated apps, computers with outdated software as well as mobile phones with outdated software since such outdated tools no longer get the latest security updates from developers or manufacturers.

If this is the case with you and you use your device to make transactions such as making payments, logging in to your bank accounts, etc., then you must, as a matter of urgency, update your devices.

8. Avoid sharing your card details & asking others to withdraw on your behalf

This grave error is mostly practiced by people in corporate environments who ask office assistants, company security officials, younger colleagues, colleagues, office cleaners and even strangers on a bank queue to help them withdraw from their cards. In doing this, they carelessly share their PIN, leaving them vulnerable but hinging on trust that the person won’t disappoint or hurt them.

Sharing sensitive details have gotten many people in grave trouble they never bargained for. Other than fraud, there is the likelihood of being set up and ganged up against.

9. Avoid sharing your card details with supposed telemarketers/bank agents

Scammers and fraudsters periodically pose as genuine bank representatives and randomly message unsuspecting victims about a possible account block over incomplete details. Almost anyone can see through their shenanigans at a glance but those with little or no knowledge of how banks operate often fidget and act under pressure. The endgame is always to get their victim’s debit card details in order to make illicit withdrawals from their bank accounts.

https://financialslot.com/ways-to-protect-your-atm-debit-card-in-nigeria/

There is still one type of fraud that I noticed that is common with Nigerian banks.

That is the BANK ATM did not dispense cash during withdrawals but the ATM machine debitted the card owner the said amount being withdraw.

Although the bank often credit the account the next business day while some take 2 days but sometimes the atm card owner have to go to the bank to inform the bank customer desk of the deduction from the failed withdrawal at the bank atm before they will later reverse the transaction.

The bank officials are not sincere as they feel too busy and watch out for loopholes by customers by way of a customer being too ignorant to know the intent of some bank officials to steal from them.

I think this act by the bank not to quickly resolve failed withdrawals can be liken to some kind of fraud by the bank.

Some guys have experience such deduction at shoprite while paying for a products the bank deduct the customer debit card but does not transfer the money to shoprite.

The shopper have to go to his bank to tell them about the failed transaction before they will reverse the transaction and most times it takes more than one business day.

IF YOU DO NOT GO TO THE BANK TO TELL THEM OF THE DEDUCTION THE BANK OFFICIALS DO NOT USE THEIR CHURCH MIND TO INFORM THE CUSTOMERS.

Too much fraud in the Nigerian banking industries.

Please how can I remove my card from 1App Data website?

miniziter:
For that number 1 point, why not say use a trusted POS instead of generalising and spoiling our image.

How your suggestion be possible to a person that travels to different places.

How can someone withdraw money from a POS machine without using an ATM card?

slawormiir:
Damnnn niggar
Nice....
Perused through the op write up as I put on my intellectual cap to read between lines while blazing my weed and I must say this article is not devoid of intellect

Ah, dis same weed & u again?

May I tell u one more time dt u shld stop smoking weed, for crying out loud?

Weed, weed, weed! Haba!

Be delivered, IJN! Amen!!!

Legalcriminal:
I stopped using cards a long time ago cus I know what street niggas can do with it thanks to advanced finger print withdraw option.

Damn this nigga stole my FTC

Never heard about this one how do I go about it?

donPhill:
A victim of number 3, Carbon app just wiped the 6k a friend borrowed me last Saturday, money wey I suppose buy food help my career oo...

The irony is that the bank cannot help, all they did was to block the card, contacted carbon and the denied doing such, reached out to paystack those ones say the transaction successful... Local man just tire!

Pls is there a way I could get my money back? That money na gold so oo

Didn't you take a loan from them?

Please how can I remove my card from 1App data website?

If den one wire ur money ops na two seconds, forg
et does tips ..

jaeyking:
In summary
Have three accounts one for any online transaction using bank app where you keep money for unforseen circumstances
The 2nd account should be for expenditures alone and should have an ATM card for any card related transaction
The 3rd account should be your main savings account that only means of withdrawal should be by withdrawal slip

I believe with this few points of mine you can be rest assured of your money atleast

Bank staff also make withdrawals especially when they are about quitting the job or giving your details to fraudsters.

EMMY76:


Never heard about this one how do I go about it?

An ATM withdraw option but not all bank branches have that

hohafrank:
How your suggestion be possible to a person that travels to different places.

See this country is a shit. We as POS agents are also trained not to accept transfers from unknown persons due to scam. Everyone is trying to be on a safer side because if they do fraudulent transfer to your account, court and police won't say its your job you're doing. Most atimes they ask us to collect ID card but how many of you can present it?

Financialslot1:


https://financialslot.com/ways-to-protect-your-atm-debit-card-in-nigeria/

Thank you for the info

Abalado:
No be card way money they inside you they protect?how much I get way I they keep for bank,na as e they enter,naso I they collect am,no time

this is me

Any ATM card you use for frequent transactions shouldn't be connected to your main account.
While printing a new card, tell the bank operator to engrave only your first name in the card. (Yes it's possible).
Find a way to scrape off the Security number in the back of your card. Write the number somewhere safe.
Whenever you want to pay for stuff online with your card, use incognito mode (so that the browser don't save your card information)
Don't let POS operators out of sight with your card. If they can't do the transaction there, hold your card till they get another POS machine.
Main bank accounts should be managed by a separate phone that is always at home and not connected to any cards. Cos I hear people say, "don't connect your main account to internet banking apps". You need to monitor your account on a daily basis.
If your main account is connected to your phone number that is your daily driver, enable sim lock immediately. That way, no one can access your sim even if they put it in another phone.
Opt for email alerts only for your main accounts.

I don't leave more than 20k in the account that I use for my ATM card. Cos that's what I can afford to lose.

How sure are you

Abalado:
No be card way money they inside you they protect?how much I get way I they keep for bank,na as e they enter,naso I they collect am,no time

this is simple, get two accounts. The account that has ATM card is always empty while if i want to withdraw, I transfer from the account to bank account that has ATM card. To further protect your account, put a password on your sim, Sims are used in whipping account too.

noble4d:


Didn't you take a loan from them?

Nope, never taken any from them, my card details are linked to the account

chidiebube107:

Holy ghost fire

May God protect my ATM from some people

chidiebube107:

Holy ghost fire

May God protect my ATM from some people

So, God don dey protect ATM card now with Holy ghost �?
Wonderful!

Hmmm

As a banker, I'd advise you get a prepaid debit card, that way you don't use funds directly from your main source account. You only make transfers from your main account to the prepaid card account for specific purchases or basic spendings. Your main account can be clean of any e-channel payment link thereby making it hard to reach for an fraud.

WowSweetGuy:
Just block the card on the settings of the bank app. Allow only Atm/post...No mad fintech or others can do any coded deduction

Sorry bro, if you don't mind, I'd like to understand this better

KanielOutis92:
Sorry bro, if you don't mind, I'd like to understand this better

on the App of your bank you go to the settings and untick the way d card is controlled by web. Switch off all and leave only atm/pos so u can use ur card on atm and post but can't be controlled by any auto web

Gtbank example below

I endorse this post

This is not only happening with POS agents but some bank officials leak details of prominent customers to fraudsters

PotatoSalad:
Any ATM card you use for frequent transactions shouldn't be connected to your main account.
While printing a new card, tell the bank operator to engrave only your first name in the card. (Yes it's possible).
Find a way to scrape off the Security number in the back of your card. Write the number somewhere safe.
Whenever you want to pay for stuff online with your card, use incognito mode (so that the browser don't save your card information)
Don't let POS operators out of sight with your card. If they can't do the transaction there, hold your card till they get another POS machine.
Main bank accounts should be managed by a separate phone that is always at home and not connected to any cards. Cos I hear people say, "don't connect your main account to internet banking apps". You need to monitor your account on a daily basis.
If your main account is connected to your phone number that is your daily driver, enable sim lock immediately. That way, no one can access your sim even if they put it in another phone.
Opt for email alerts only for your main accounts.

I don't leave more than 20k in the account that I use for my ATM card. Cos that's what I can afford to lose.

Much sense here. Tnx.

NwaNimo1:
Thanks.......but,

[img]https://media1./images/5f3cb6fb0a39736d3c3c0521e234a1c8/tenor.gif?itemid=7855913[/img]

I feel you.

It is well.