It’s no news that scammers now leverage on PoS to defraud customers and the numbers are rising very fast.

Do you know that about 91% successful frauds have been carried and this led to Nigerian Financial services companies losing #5.2 billion between January and September 2020?

This challenge is not only faced by Nigerians alone, but other countries. However, Nigeria appeared to be the worst hit by wide margin according to a report by NIBSS.

Do you also know?

POS fraud increased by 173% and 215% YOY respectively. A total of 48, 767 unique financial subscribers were defrauded. Of this number, people over 40-years of age fell prey to fraudsters the most. Ages between 21–30 were the second most defrauded.

Despite the campaigns from different financial institutions, people are still falling victim into the hands of those who claim to be operators of PoS service or customers.
These fraudsters fabricate their stands so that clients won’t get to know what they are up to. They use the card details which include 16-digit number and authorization code to gain unlimited access to victim’ accounts and begin to withdraw cash, order things online and recharge phones with airtime, among other transactions.

Other methods are distributions of PoS machine by scammers. The machines stores customers’ information even after transactions are carried out and the card removed. It can also retain information for future use to defraud the original owners of the ATM card. Some even distract customers to quickly take pictures of their bank details.

Therefore, we at Accelerex Network Limited are focused on making sure that does not happen to any of our customers or agents.
Here are few steps to Protecting yourself

1. Make sure you find out if the agent is real or not
2. Check for any hidden cameras while the transaction is taking place.
3. If you notice anything suspicious, don’t patronize the agent or report to the bank immediately.
4. Check if the card slot is bigger than normal size or it is shaking. If it is, then don’t.
5. Cover the machine with your hands while typing your pin.
6. Do not allow anyone help/assist you insert your card into the ATM or POS terminal.
7. Don’t ever use the ATM or POS in a dark and isolated environment. It dangerous!!.
8. Make sure no one is watching from behind while inputting your card pin.
Pls let’s be careful out there�����. A lot is happening.

#Agencybanking #FinancialInclusion #ProtectyourselfagainstPOSfraud #POSAgent

Pls let's be careful out there oh. Thank you