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Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC - Business (8) - Nairaland

Nairaland Forum / Nairaland / General / Business / Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC (46251 Views)

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Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by BuddhaPalm(m): 4:39pm On Nov 12, 2021
JaySterling:
Kuda is canceled!

-Transferring out my funds
-Closing my account, and
-Deleting the app right now

A bank that sells out customers to the feds is not a bank I wanna remain with.

Totally disappointed with this so called “Bank of the free”

BS!

So you want them to lose their licence because of your N30k?

2 Likes

Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Paperbag(m): 4:49pm On Nov 12, 2021
JaySterling:
Kuda is canceled!

-Transferring out my funds
-Closing my account, and
-Deleting the app right now

A bank that sells out customers to the feds is not a bank I wanna remain with.

Totally disappointed with this so called “Bank of the free”

BS!

Oga calm down joor , no bank will stupidly report you to feds if its not fraudulent ...

A family was scammed of 7m last year , we got the help of the bank and efcc to track and trick the lady to our trap which led to the guy ..

Will you now say the bank did bad by helping us ??

Make una they get conscience and knw the complete story ..

Until they move your money then you will find d bank and efcc for help

1 Like

Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by LagbajaTheBEREAN: 4:53pm On Nov 12, 2021
nedzuby:


Apologise if my enlighten your ignorance is insulting to you. Don't mean to be insulting as we are all here to learn
On the contrary, man.
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Paperbag(m): 4:53pm On Nov 12, 2021
LagbajaTheBEREAN:
The explanation I've been yearning for is...

1. Why was the customer called for something else only to find out EFCC was waiting for him?
2. Assuming KUDA is right, what's the account holder offence then?
3. I believe there's no need for long grammar, just hit the nail on the head and then we decide where to throw our funds.


P.S: I no geh kobo for my KUDA account..

Oga we have been in that shoes before , we did so much and never caught the scammer , we had to trick them into coming to the bank ..you think say bank fit say no to efcc when they ask for vital documents ??

Na simple paper the bank go pay heavy fine ...and mind you this banks do a lot to protect their customers , even if the customer scam you they will never give the customer up ...na when the matter pass them the do it ...

If his clean ,noting go happen
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by LagbajaTheBEREAN: 4:55pm On Nov 12, 2021
Paperbag:


Oga we have been in that shoes before , we did so much and never caught the scammer , we had to trick them into coming to the bank ..you think say bank fit say no to efcc when they ask for vital documents ??

Na simple paper the bank go pay heavy fine ...and mind you this banks do a lot to protect their customers , even if the customer scam you they will never give the customer up ...na when the matter pass them the do it ...

If his clean ,noting go happen
Oya na.
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by abbey621(m): 5:03pm On Nov 12, 2021
AlieninPH:


This your submission is an indication of the low quality of Nigerians.
Because USA, UK and EU allows cryptocurrency trading, then Nigeria must allow it.
Are you aware that China has banned cryptocurrency trading in their country.
The reason is because it can bring down the economy, it is akin to a pyramid scheme.
If it brings down the Nigerian economy, the same you will start blaming Buhari and Emefiele, that they are the most useless persons on Earth, especially if you lose your money in the trade.
You sir and people with you mindset, are the most useless people on Earth.

You're simply a comedian! China is now your role model? You need to hop on Discord or Telegram and see how their citizens are lamenting, crypto was invented because the future of fiats is in jeopardy. A nation can just print money out of nowhere and claim it is backed by non existent commodity(USA). Trillions can just disppear and a nation will simply restructure its currency(Ghana, Greece) and yet crypto is the pyramid scheme? There's a saying, "you get more threatened by things you do not understand". I suggest you educate yourself rather than spewing garbage!

2 Likes 1 Share

Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by RexTramadol1: 5:25pm On Nov 12, 2021
Against Kuda—— you can go to hades



For Kuda- naija still get hope



If u no chop gbi u no fit die gbi
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by henryobinna(m): 5:46pm On Nov 12, 2021
einsteine:


It is currently against CBN regulations. Even the big DMBs are closing people's accounts for this. Direct your anger to Emefiele.
that isn't an answer to my question, secondly the CBN is not in the position to declare an act criminal or not, it is beyond the jurisdiction of the bank. The bank does not make laws.

Have you wondered why no one has been charged to court or sent to jail for that? Because such a silly case would be thrown out the very first second.

1 Like

Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Rolly22(m): 6:15pm On Nov 12, 2021
Okortor:
You all ran to kuda because of the convenient banking system and easy KYC documentation. Now the chips are down...you all still spilling trash...

I use kuda and av got millions in my account which they won't dare report me to EFCC because I don't accept suspicious or fraudulent Transactions neither inflow nor outflow on my account.

I'm a financialist n I know what's right n what's wrong.

I can't count how many suspicious accounts n transactions I've reported to the CBN as regarding AML.

STOP JUSTIFYING FRAUD, WHAT'S BAD IS BAD. IF YOU ARE LEGIT, YOU HAVE GOT NOTHING TO FEAR N WORRY ABOUT IRRESPECTIVE.



Great weekend guys. TGIF.

SHUT YOUR GUTTERS,WHEN DID CRYPTO CURRENCY BECOME FRAUD??

1 Like

Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by delpee(f): 7:04pm On Nov 12, 2021
JaySterling:
Kuda is canceled!

-Transferring out my funds
-Closing my account, and
-Deleting the app right now

A bank that sells out customers to the feds is not a bank I wanna remain with.

Totally disappointed with this so called “Bank of the free”

BS!

The reality is that all financial institutions are accountable to CBN. Once CBN gives an instruction, they must comply. Financial transactions of a particular limit are often flagged and investigated. It is mandatory to report to EFCC in some cases.

So it's not about KUDA, others are doing the same thing perhaps "codedly."

By the way, I have no business with KUDA or any of the new Financial institutions. I'm expressing my view based on my experience over the years.
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by yetunsbay(m): 8:44pm On Nov 12, 2021
Carbon > Kuda
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Okortor: 11:11pm On Nov 12, 2021
Lol... Lil kid , I av dealt with mafias in Thailand..stayed for years, nothing sup...na Jew na like wan shot me dead? Ozwor. Nairaland is indeed a faceless forum, so I won't blame me.
Meet me in real life, Lets know who Will be shot dead..
pained fraudster.
MansoryMX:



Mark my words. Your cup go full one day and you will be shot dead if you don’t mind your business. My 2 cents

1 Like

Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by arleck(m): 12:57am On Nov 13, 2021
JaySterling:
Kuda is canceled!

-Transferring out my funds
-Closing my account, and
-Deleting the app right now

A bank that sells out customers to the feds is not a bank I wanna remain with.

Totally disappointed with this so called “Bank of the free”


BS!
Been emailing them on how to close the account. Kuda is a big rubbish bank. They do a lot BS!
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by SenecaTheYonger: 6:01am On Nov 13, 2021
Inkling:
War against crypto is a war against innovation

Man who is that girl on your DP?
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by magicfingers009: 8:41am On Nov 13, 2021
What would you have them do Wise One?

Fight the government and invariably Govt agencies and CBN and lose their license?

Then Nigerians would cry that their money is all gone? And still delete the app and move to a compliant Fintech. How sensible.
FalseProphet1:
The same government that instructed CBN to ban crypto currency are trading it, the same government that arrested obi cubana for money laundering are also guilty of the same offence.

Kuda bank aren't wise, I see Nigerians deleting their app, I see them unable to pay their staffs, I see them folding up in the coming months.

This I have seen.
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by magicfingers009: 8:46am On Nov 13, 2021
Please go and read BOFIA 2020 and see if it’s beyond CBN jurisdiction. Mind you, this act was signed by Buhari into law.

henryobinna:
that isn't an answer to my question, secondly the CBN is not in the position to declare an act criminal or not, it is beyond the jurisdiction of the bank. The bank does not make laws.

Have you wondered why no one has been charged to court or sent to jail for that? Because such a silly case would be thrown out the very first second.
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by somehow: 9:41am On Nov 13, 2021
AmazingELixir:


Central bank of Nigeria (CBN) which is the Apex bank in the country and the chief financial regulator early this year directed all deposit money banks and other financial institutions to desist from transacting in and with entities dealing in cryptocurrencies. 

the significant risks that transacting in cryptocurrencies portend, including loss of investments, money laundering, terrorism financing, illicit fund flows, and criminal activities.

To be clear, the CBN did not outlaw trade in crypto transactions; it only directed banks and other financial institutions to close the accounts used for cryptocurrency operations and desist from transacting with entities dealing in crypto.

CBN does not make laws and can't make laws
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by John360comng: 9:59am On Nov 13, 2021
Inkling:
War against crypto is a war against innovation

I weak. With Metaverse and all the innovations coming up. Sometimes, I ask myself if Government really thinks it will win against these Crypto guys.
Government should have started this battle before now. I think it's now late for them with this lost crypto war that they are engaged in.
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by John360comng: 10:48am On Nov 13, 2021
Americafighter:
I dey use kuda for cryptocurrency and I dey do over 500 transaction in a month but them no fit block my account because I dey always try owe them money no matter how if them see say my account dey minus them no go fit even try block am

How do you do it?
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Americafighter: 12:10pm On Nov 13, 2021
John360comng:


How do you do it?
Because I transact well they allow me to borrow 150,000 so I always put my balance on negative
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by AmazingELixir: 2:31pm On Nov 13, 2021
somehow:


CBN does not make laws and can't make laws

They make monetary policies and guidelines they are regulators, the banks take their origin from the CBN and they can be snuffed out by same if they default...every directive that requires legal backing from the financial sector they advice the government to enact such enabling laws through the national assembly.

Yes they do not make laws but they draft the Bills.
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by somehow: 4:42pm On Nov 13, 2021
AmazingELixir:


They make monetary policies and guidelines they are regulators, the banks take their origin from the CBN and they can be snuffed out by same if they default...every directive that requires legal backing from the financial sector they advice the government to enact such enabling laws through the national assembly.

Yes they do not make laws but they draft the Bills.

Is this why CBN lost 2 cases of recent against citizens they froze their acctounts in the court of law?

https://www.legit.ng/business-economy/technology/1443114-court-unfreeze-firms-bank-accounts-blocked-cryptocurrency-trading/

Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by AmazingELixir: 6:09pm On Nov 13, 2021
somehow:


Is this why CBN lost 2 cases of recent against citizens they froze their acctounts in the court of law?

https://www.legit.ng/business-economy/technology/1443114-court-unfreeze-firms-bank-accounts-blocked-cryptocurrency-trading/

That analogy has no bearing to the subject matter.
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by somehow: 6:45pm On Nov 13, 2021
AmazingELixir:


That analogy has no bearing to the subject matter.

How?

What is the subject matter?

That CBN can't make laws not backed by the constitution or that 2 companies won a case against CBN that froze their accounts for trading crypto?
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by MansoryMX(m): 10:17am On Nov 14, 2021
Okortor:
Lol... Lil kid , I av dealt with mafias in Thailand..stayed for years, nothing sup...na Jew na like wan shot me dead? Ozwor. Nairaland is indeed a faceless forum, so I won't blame me.
Meet me in real life, Lets know who Will be shot dead..
pained fraudster.


Thailand isn’t Nigeria Mr. Here you can get killed like a chicken! No finger print investigation, no forensic, no professional armed force unit to investigate shit! You get killed and that’s it! Best they can do is arrest one tout and pin him as your killer! A word of advice! IF YOU WANNA LIVE LONG IN NIGERIA! LEARN TO MINE YOUR GODDAMN BUSINESS!!!


And for your information! I ain’t a fraudster. Just a web developer and computer gig who deals on forest trade and crypto.
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by shegzydave(m): 4:09pm On Nov 15, 2021
Czario:


In the US he can sue kuda and Clean them out for entrapment
i swear why the lies in the first place
let him sue them

1 Like

Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Konquest: 9:25pm On Nov 18, 2021
joey150:
Nigerians don't like accountability. The leaders are only a mirror of the people they lead. We have so many weak institutions because there are simply no checks and balances.

All this ruckus because a financial institution rightfully flagged an account due to a suspicious transaction? Financial institutions flag transactions for different reasons, it's not just about the sum of the money.

The person with the said blocked account can tender the required evidence and they should be absolved of any wrongdoing.

If it's about cryptocurrency, then banks have been explicitly warned by CBN not to facilitate crypto currency transactions of any kind. People should take it up with CBN and Emiefele and not Kuda.

I don't support the stupid herd mentality brewing on social media, neither do I have any incentive to support or crucify Kuda.

I will continue to use my Kuda account until I have a substantial reason not to do so.
Well said!
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Konquest: 9:29pm On Nov 18, 2021
Okortor:
You all ran to kuda because of the convenient banking system and easy KYC documentation. Now the chips are down...you all still spilling trash...

I use kuda and av got millions in my account which they won't dare report me to EFCC because I don't accept suspicious or fraudulent Transactions neither inflow nor outflow on my account.

I'm a financialist n I know what's right n what's wrong.

I can't count how many suspicious accounts n transactions I've reported to the CBN as regarding AML.

STOP JUSTIFYING FRAUD, WHAT'S BAD IS BAD. IF YOU ARE LEGIT, YOU HAVE GOT NOTHING TO FEAR N WORRY ABOUT IRRESPECTIVE.

Great weekend guys. TGIF.
Thumbs up for saying your
piece!
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Konquest: 9:30pm On Nov 18, 2021
Mynd44:
Previous thread: https://www.nairaland.com/6844124/kuda-bank-called-efcc-friend


https://nairametrics.com/2021/11/11/kuda-bank-says-it-cant-facilitate-cryptocurrency-transaction/

Here is the full statement

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