awesomeJ:
@davit, what's the default pin on a new MTN sim, i'm trying to set up sim lock, but it asks for pin.

Try 0000 or 1234
1111

Onẹ should do

awesomeJ:

Funny enough, it's my largest holding. About 34% of my portfolio.

I believe you can still move irrespective of the percentage of the holdings.

I used to be like that with Stanbic

@davit, what's the default pin on a new MTN sim, i'm trying to set up sim lock, but it asks for pin.

Modified: I called the contact centre.
Default pin is 00000
That's 5 zeros. For anyone else who may want to set it up.

davit:


Try 0000 or 1234
1111

Onẹ should do

Thanks boss, I called them.

davit:


I believe you can still move irrespective of the percentage of the holdings.

I used to be like that with Stanbic

I'm not banking with them for now, till I understand more about this issue. I don't want funny surprises.

Thanks again.

Itsrm:


I have also asked those who should know and the feedback I've gotten is that they have recorded more fraud cases with access bank than any other bank.

None of them have any idea why it happens. Just means there's a vulnerability with access bank that scammers exploit.

No need bad mouthing any bank here. All of them are the same. If the so called "those who should know" that gave you the feed back are not CBN fraud monitoring unit, then its best you treat the info as unreliable.
Access bank is one of the largest in the country and has almost the highest customer base, so you would think theirs is the worse.
Proportionately, they are all the same.
Truth be told, most fraud cases these days have some fault of customes, though not all.
Someone calls you claiming to be your customer care agent and you immediately give out all your banking details and pin. Then you blame the bank when your account is cleared.
Or your phone gets lost, you do not immediately block your sim until your account is cleared.
Those guys that hack phones only need your sim card. No matter your bank.
These things happen to all banks so thise banks with more customers will definitely record more cases.

One will think you are working with access bank. though am not sure.
But you have stated the fact.
A contractor build a house for you and furnished it and handed the key to the house to you.
a thief collect the key and robbed your house.
you want to go and hold the contractor liable.

The solution still remains to get a small nokia. put the sim card there and ensure that both the phone and the sim card are locked with security key.


Its hard to make a dim in the country. Avoid YOU GO EXPLAIN TAYA.

Mpeace:
No need bad mouthing any bank here. All of them are the same. If the so called "those who should know" that gave you the feed back are not CBN fraud monitoring unit, then its best you treat the info as unreliable.
Access bank is one of the largest in the country and has almost the highest customer base, so you would think theirs is the worse.
Proportionately, they are all the same.
Truth be told, most fraud cases these days have some fault of customes, though not all.
Someone calls you claiming to be your customer care agent and you immediately give out all your banking details and pin. Then you blame the bank when your account is cleared.
Or your phone gets lost, you do not immediately block your sim until your account is cleared.
Those guys that hack phones only need your sim card. No matter your bank.
These things happen to all banks so thise banks with more customers will definitely record more cases.

Mpeace:
No need bad mouthing any bank here. All of them are the same. If the so called "those who should know" that gave you the feed back are not CBN fraud monitoring unit, then its best you treat the info as unreliable.
Access bank is one of the largest in the country and has almost the highest customer base, so you would think theirs is the worse.
Proportionately, they are all the same.
Truth be told, most fraud cases these days have some fault of customes, though not all.
Someone calls you claiming to be your customer care agent and you immediately give out all your banking details and pin. Then you blame the bank when your account is cleared.
Or your phone gets lost, you do not immediately block your sim until your account is cleared.
Those guys that hack phones only need your sim card. No matter your bank.
These things happen to all banks so thise banks with more customers will definitely record more cases.

Your argument is valid. A bank with 20million customers is likely to record 20 fraud cases while another bank with just 5million customers records just 5. That's very true.


But it doesn't change the fact that access bank has a vulnerability. I'm am speaking from experience that a debit went through their system without my pin, whereas the same attempt failed at another bank.

No one is badmouthing them.

In programming, it's almost impossible to catch every edge case in your code, a number of bugs only come to light with user feedback.

So what access bank needs to do is investigate cases like mine to see what the issues are, and then safeguard.

One can also argue that your point about them being so large is the more reason they have to make their systems much more robust, cos their largeness means more is at stake.

Rizin:
One will think you are working with access bank. though am not sure.
But you have stated the fact.
A contractor build a house for you and furnished it and handed the key to the house to you.
a thief collect the key and robbed your house.
you want to go and hold the contractor liable.

The solution still remains to get a small nokia. put the sim card there and ensure that both the phone and the sim card are locked with security key.


Its hard to make a dim in the country. Avoid YOU GO EXPLAIN TAYA.

What renders your argument faulty us you making it seem like sim card is the primary mode of authorization for transaction, it's not.

You should compare my pin to the house key, then you'd be having a solid point.


No one is blaming a bank for a compromise of their pin.

The blame comes duly on them, when I have a pin that should give me a level of security, and fraudsters still bypass their system regardless.

Using your contractor analogy, it's like me never losing my key, locking my door, yet people still gain access to my home.

The contractor has got to be liable then for installing a faulty lock system.

As long as I can prove that I locked my doors and the invaders never used my key.

My Brother, Do not just argue to win but to get fact.

some banks allow you to reset your pin using you sim card.
i do not have access bank so i can not say for them.

I know that i set my GT Ussd code without going to the bank. Even after upgrading from Gt app to GTCO app, i started using the new app without going to the GT bank office. It is still my best bank.
Some one that have your sim card can block u off from your account and he can do virtually everything you can do.

Then imagine if he gain access to your sim and phone.

awesomeJ:


What renders your argument faulty us you making it seem like sim card is the primary mode of authorization for transaction, it's not.

You should compare my pin to the house key, then you'd be having a solid point.


No one is blaming a bank for a compromise of their pin.

The blame comes duly on them, when I have a pin that should give me a level of security, and fraudsters still bypass their system regardless.

Using your contractor analogy, it's like me never losing my key, locking my door, yet people still gain access to my home.

The contractor has got to be liable then for installing a faulty lock system.

As long as I can prove that I locked my doors and the invaders never used my key.

Rizin:
My Brother, Do not just argue to win but to get fact.

some banks allow you to reset your pin using you sim card.
i do not have access bank so i can not say for them.

I know that i set my GT Ussd code without going to the bank. Even after upgrading from Gt app to GTCO app, i started using the new app without going to the GT bank office. It is still my best bank.
Some one that have your sim card can block u off from your account and he can do virtually everything you can do.

Then imagine if he gain access to your sim and phone.

Facts you say??
When you attempted a reset of your pin without going to the bank, did the system ask for your old pin or not?
Could you have succeeded in resetting the pin without knowing the old pin?
I really don't know why you feel the need to push these weak points?
Did you do basic computer programming?

All banks have USSD codes you can use to block ur bank accounts in cases where ur phone/sim is missing.

The code can be dialed from any SIM & U provide some information. This would automatically freeze/block ur account for all transactions till u either retrieve ur old SIM or replace it with a new one & attach to ur account

Pls let me ask.i don't know much about tech matter.This is based on the unfortunate thing that happened to a member as per loss of phone
I use gtb app on my phn.I don't use ussd on my account and no atm attached. I only use the app with hard token I bought from the bank.Does it mean if one gets my sim card which has no lock.He can have access to my account.Though my phn has phone lock.

Sim has to be attached to the account for any loophole to be exploited.

Just lock ur SIM card if U receive transaction alert SMS on it. Cause most of these thieves just remove the SIM & put in another phone to carry out thier fraud. Then factory reset the phone & sell it too for extra cash

So you need old pin before you can reset your pin? What are you really saying?
There is always a FORGOT/RESET PASSWORD in almost all login (Its different from CHANGE PASSWORD which you can access after login).
Which if you click, a link or code will be sent to either your phone or email.
Now the phone is not with you and still with the person.
Trust me, they will not need your basic computer programming to do what they want to do.


I will not want to continue further. You can still take access to court and maybe we can learn from your experience if you share it afterwards.

awesomeJ:


Facts you say??
When you attempted a reset of your pin without going to the bank, did the system ask for your old pin or not?
Could you have succeeded in resetting the pin without knowing the old pin?
I really don't know why you feel the need to push these weak points?
Did you do basic computer programming?

Exactly. The sim card is more than your ATM.
in ATM, you require a PIN.
in SIM card you can create the PIN and don't forget that the Bank assumes that you are the one they are dealing with once it comes from the sim card. So, even though you did not set the USSD, the person can do it if he knows some info about you.

STAY SAFE, USE PIN IN MAXIMUM WAY NECESSARY.

Streetinvestor2:
Pls let me ask.i don't know much about tech matter.This is based on the unfortunate thing that happened to a member as per loss of phone
I use gtb app on my phn.I don't use ussd on my account and no atm attached. I only use the app with hard token I bought from the bank.Does it mean if one gets my sim card which has no lock.He can have access to my account.Though my phn has phone lock.

Rizin:
So you need old pin before you can reset your pin? What are you really saying?
There is always a FORGOT/RESET PASSWORD in almost all login (Its different from CHANGE PASSWORD which you can access after login).
Which if you click, a link or code will be sent to either your phone or email.
Now the phone is not with you and still with the person.
Trust me, they will not need your basic computer programming to do what they want to do.


I will not want to continue further. You can still take access to court and maybe we can learn from your experience if you share it afterwards.

Any bank who uses this weak system you describe is weak and undeserving of even a microfinance banking license.
In your funny imagination, anyone can just click reset PIN, and type in anything they like to reset my PIN? you must think the banks are fools.


In my experience, to reset your PIN at GTB for instance, you need to know the answer to a secret question, without which, you'll have to visit a branch for a physical reset. Stanbic too would require a physical visit for PIN reset if I remember correctly.

Basically, contrary to your inexperienced idea about these authorizations, any OTP sent to your line for PIN reset would only be possible after you've either provided an old PIN, your ATM PIN, an answer to a secret question, or gone to the bank for physical bimetric verification. You're extremely wrong in thinking any bank has a system that just lets you reset a PIn just cos you clicked a link, without having any other form of authorization.

Stop peddling ignorance, If you have an experience contrary to what I described, narrate.

My brother you win. For the fact you knew all those and lost your money, you win. The only thing remaining is for you to continue with what you have for access and share your expirience.

For those who are doubting what these guys could do when they have access to your phone, watch below video.


https://www.youtube.com/watch?v=JTp5hGQuZPk?si=NrL7Eemg1zEVOd4f
They take it as a work and can call their expert from anywhere.

awesomeJ:

Any bank who uses this weak system you describe is weak and undeserving of even a microfinance banking license.
In your funny imagination, anyone can just click reset PIN, and type in anything they like to reset my PIN? you must think the banks are fools.


In my experience, to reset your PIN at GTB for instance, you need to know the answer to a secret question, without which, you'll have to visit a branch for a physical reset. Stanbic too would require a physical visit for PIN reset if I remember correctly.

Basically, contrary to your inexperienced idea about these authorizations, any OTP sent to your line for PIN reset would only be possible after you've either provided an old PIN, your ATM PIN, an answer to a secret question, or gone to the bank for physical bimetric verification. You're extremely wrong in thinking any bank has a system that just lets you reset a PIn just cos you clicked a link, without having any other form of authorization.

Stop peddling ignorance, If you have an experience contrary to what I described, narrate.

This is so unlike you, you are usually calm and ready to listen but this time you seem really paranoia, you are trying to find the root cause of venerability, but at least be open to alternative ideas.

I have been in a situation where I wanted clarification also, even though in my case I wasn't duped but an attempt was made. I even opened a thread on it then. https://www.nairaland.com/6779196/bvn-fraud-encounter-fraudsters

awesomeJ:

Any bank who uses this weak system you describe is weak and undeserving of even a microfinance banking license.
In your funny imagination, anyone can just click reset PIN, and type in anything they like to reset my PIN? you must think the banks are fools.


In my experience, to reset your PIN at GTB for instance, you need to know the answer to a secret question, without which, you'll have to visit a branch for a physical reset. Stanbic too would require a physical visit for PIN reset if I remember correctly.

Basically, contrary to your inexperienced idea about these authorizations, any OTP sent to your line for PIN reset would only be possible after you've either provided an old PIN, your ATM PIN, an answer to a secret question, or gone to the bank for physical bimetric verification. You're extremely wrong in thinking any bank has a system that just lets you reset a PIn just cos you clicked a link, without having any other form of authorization.

Stop peddling ignorance, If you have an experience contrary to what I described, narrate.

Any body in his shoe can do even worst. He is a good guy that believe system should work the way it supposed, which is normal, but nothing is normal.

ojesymsym:
This is so unlike you, you are usually calm and ready to listen but this time you seem really paranoia, you are trying to find the root cause of venerability, but at least be open to alternative ideas.

I have been in a situation where I wanted clarification also, even though in my case I wasn't duped but an attempt was made. I even opened a thread on it then. https://www.nairaland.com/6779196/bvn-fraud-encounter-fraudsters

Elsueno:
All banks have USSD codes you can use to block ur bank accounts in cases where ur phone/sim is missing.

The code can be dialed from any SIM & U provide some information. This would automatically freeze/block ur account for all transactions till u either retrieve ur old SIM or replace it with a new one & attach to ur account

Yes, I made a free mobile app that can help people with this and all other USSD services for most of the major banks in Nigeria.

You can dial the various codes right from the app and also share with others.


https://www.youtube.com/watch?v=8ya8LXfiVDs

Here are the Android download Links:

Android Download Link 1: https://ussd-transakt-app.en.uptodown.com/android/download

Android Download Link 2: https://www.amazon.com/dp/B0D32LBHN4 (Amazon App Store)

iOS version not available at the moment.

Rizin:
Exactly. The sim card is more than your ATM.
in ATM, you require a PIN.
in SIM card you can create the PIN and don't forget that the Bank assumes that you are the one they are dealing with once it comes from the sim card. So, even though you did not set the USSD, the person can do it if he knows some info about you.

STAY SAFE, USE PIN IN MAXIMUM WAY NECESSARY.

Pls let me hear your opinion on my wife case with zenith bank.My wife tried shopping online believing it was the regular site she has been using. This was around 3pm on a working day.The transaction failed. Then around 5pm she got a debit of #1 naira.within 1 minutes she got different alert of 1 million and the whole money in the account cleared.since the banks already closed she could not go to the bank.The next day she went to bank and was told the money was used to shop oxl some whr in lagos
The surprised question is that she normally get otp notice for confirmation when she uses her card but this time none came.when she checked with bank customer desk she noticed a new phone introduced to her account which she believes the otp notification was sent.
She went to efcc and wrote to cbn but till today nothing came out off it.
Do you think thr could be insider hand work in this situation. Make I know if I should bring in a lawyer now.The amount taken was 1 million naira
I keep wondering how unknown number was introduced to her bank details with the bank.

ojesymsym:
This is so unlike you, you are usually calm and ready to listen but this time you seem really paranoia, you are trying to find the root cause of venerability, but at least be open to alternative ideas.

I have been in a situation where I wanted clarification also, even though in my case I wasn't duped but an attempt was made. I even opened a thread on it then. https://www.nairaland.com/6779196/bvn-fraud-encounter-fraudsters

Your use of the word "paranoia" is out of place.

If you read the thread well, you would see where someone (davit) suggested sim lock, and how I reacted.

The fact that someone else makes a lame argument that having access to my sim means having 90% access to my account, and I refute doesn't mean you should be quick to use wrong vocabulary.

His entire arguments are lame.
I lost my sim, and my money at GTB was entirely intact, that already proves his funny 90% argument as faulty.

You should be open to ideas as well, but smart ones, not just any ideas thrown at you. You have to be smart enough to sieve out the incoherent ones.

Streetinvestor2:
Pls let me hear your opinion on my wife case with zenith bank.My wife tried shopping online believing it was the regular site she has been using. This was around 3pm on a working day.The transaction failed. Then around 5pm she got a debit of #1 naira.within 1 minutes she got different alert of 1 million and the whole money in the account cleared.since the banks already closed she could not go to the bank.The next day she went to bank and was told the money was used to shop oxl some whr in lagos
The surprised question is that she normally get otp notice for confirmation when she uses her card but this time none came.when she checked with bank customer desk she noticed a new phone introduced to her account which she believes the otp notification was sent.
She went to efcc and wrote to cbn but till today nothing came out off it.
Do you think thr could be insider hand work in this situation. Make I know if I should bring in a lawyer now.The amount taken was 1 million naira
I keep wondering how unknown number was introduced to her bank details with the bank.

This is my opinion on the matter:

The fraudsters could have set up a phishing site where inputing your card details and pin will help them retrieve same and use.


But since there's supposed to be an added otp security layer, phone number change is supposed to only happen via a secured zenith bank API.

The fact that the fraudsters were able to access that API to change the phone number linked to the account makes zenith bank liable.

The bank obviously has no record of your wife requesting for a phone number change.


I think the legal system in this country is the issue. Imagine Google having to pay out billions of dollars to users just cos the users sued that their incognito browsing wasn't private enough.


And banks are being this reckless??

awesomeJ:


Your use of the word "paranoia" is out of place.

If you read the thread well, you would see where someone (davit) suggested sim lock, and how I reacted.

The fact that someone else makes a lame argument that having access to my sim means having 90% access to my account, and I refute doesn't mean you should be quick to use wrong vocabulary.

His entire arguments are lame.
I lost my sim, and my money at GTB was entirely intact, that already proves his funny 90% argument as faulty.

You should be open to ideas as well, but smart ones, not just any ideas thrown at you. You have to be smart enough to sieve out the incoherent ones.

As somebody who is not in the field of cyber security, I would say you should be careful at what's obtainable out there today

You are looking at this from a microscopic view. When someone's SIM card is lost without a SIM lock, the opportunities are endless.

You are still focused on ussd. Have you thought that it could be used to reset your email account if you also didn't have MFA enabled.

Most people here do trading with apps that don't have MFA, that's also an avenue to reset their password with the OTp dropping in the SIM

Your reply may be, so how will they know what my email address is😁 and my response would be nothing is hidden on the web.

Harden all entry points and forget how an fraudster can take an advantage.
While you are focused on simlock, another fraudster is after resetting all your financial apps that do not have MFA enabled.

Bro your mind go touch ground 😁

chukzyfcbb:

As somebody who is not in the field of cyber security, I would say you should be careful at what's obtainable out there today

You are looking at this from a microscopic view. When someone's SIM card is lost without a SIM lock, the opportunities are endless.

You are still focused on ussd. Have you thought that it could be used to reset your email account if you also didn't have MFA enabled.

Most people here do trading with apps that don't have MFA, that's also an avenue to reset their password with the OTp dropping in the SIM

Your reply may be, so how will they know what my email address is😁 and my response would be nothing is hidden on the web.

Harden all entry points and forget how an fraudster can take an advantage.
While you are focused on simlock, another fraudster is after resetting all your financial apps that do not have MFA enabled.

Bro your mind go touch ground 😁

Your points are valid.

However, the point here is not about whether or not lost sim card can be exploited.

The point is understanding how two banks one with small money, another with a larger amount, same ussd pin, attempts to pull funds were made on both banks, it succeeded in one bank, it failed on the other.

The point is understanding how Access could have gone through when the guys obviously didn't use the pin.


All my other accounts, wallets and all have since be restored without issues.

The money lost is infinitesimal, but if banks are lax, you guys should stop assuming that the responsibility is on the customer.

If I had gotten a debit of just 20k on my GTB account, then this whole discussion wouldn't be happening cos then it would have been obvious my pin was compromised.

However that's not the case, so the bank is liable, and it's a good thing the person in charge seems to understand, he's not defending like some of you here seem to be doing, rather he's agreed to estate the issue to their team to investigate and make any necessary modifications.


Someone here also just reported a case of fraudsters changing the phone number linked to their account without any request from the customer, now that has cost them 1m, and some of you still want to assume banks can never be wrong?? Come on!!

I am not a lawyer or a police.
But She must have clicked the wrong site and supplied information. there are many app and sites which once you click on, will hide on your phone and also will be sending your info and details to another person.

You even have a genuine case because no one should change a phone number without filling a form on the bank. You can consult a lawyer to write to the bank demanding the permission they received to change the phone number (lawyers will know how to do it better). Because to change common address is not easy not to talk of phone number.

Then police can help you track the number, including where it was used before, NIN and address it was registered to. Possibly even the people they have called before and other phone number linked to the same NIN. it may take 3 years or more because the person must have dropped the phone and line. But i am afraid it will take you knowing the police guy because its not going to be easy for him too as he will require so many court orders to penetrate into someone's privacy which is a good turn off.
Also police can get court order and write to oxl to get every details of the account that made the purchase.
This is what i think may work but its not an advice, do you own investigation and follow your heart.

Streetinvestor2:
Pls let me hear your opinion on my wife case with zenith bank.My wife tried shopping online believing it was the regular site she has been using. This was around 3pm on a working day.The transaction failed. Then around 5pm she got a debit of #1 naira.within 1 minutes she got different alert of 1 million and the whole money in the account cleared.since the banks already closed she could not go to the bank.The next day she went to bank and was told the money was used to shop oxl some whr in lagos
The surprised question is that she normally get otp notice for confirmation when she uses her card but this time none came.when she checked with bank customer desk she noticed a new phone introduced to her account which she believes the otp notification was sent.
She went to efcc and wrote to cbn but till today nothing came out off it.
Do you think thr could be insider hand work in this situation. Make I know if I should bring in a lawyer now.The amount taken was 1 million naira
I keep wondering how unknown number was introduced to her bank details with the bank.

awesomeJ:

Your points are valid.

However, the point here is not about whether or not lost sim card can be exploited.

The point is understanding how two banks one with small money, another with a larger amount, same ussd pin, attempts to pull funds were made on both banks, it succeeded in one bank, it failed on the other.

The point is understanding how Access could have gone through when the guys obviously didn't use the pin.


All my other accounts, wallets and all have since be restored without issues.

The money lost is infinitesimal, but if banks are lax, you guys should stop assuming that the responsibility is on the customer.

If I had gotten a debit of just 20k on my GTB account, then this whole discussion wouldn't be happening cos then it would have been obvious my pin was compromised.

However that's not the case, so the bank is liable, and it's a good thing the person in charge seems to understand, he's not defending like some of you here seem to be doing, rather he's agreed to estate the issue to their team to investigate and make any necessary modifications.


Someone here also just reported a case of fraudsters changing the phone number linked to their account without any request from the customer, now that has cost them 1m, and some of you still want to assume banks can never be wrong?? Come on!!

I think you still don't understand something, different banks different security architecture, ACCESS BANK permits users to reset almost all other security measures via OTP sent to you Sim, you don't need to visit any bank branch before registering and using access bank app.
As for some other banks, they don't allow such, without multiple authentication factors, every system has its advantages and disadvantages.

To you, access banks architecture is a disadvantage but to some people it's an advantage. The truth of the matter is those people simply reset your details and proceeded with the transactions.

I think access bank needs to probably restrict any form of debit transactions for 24hrs after a pin reset to protect customers funds. But based on thier policy, don't even try contesting this in court except you went through the terms before consenting to the forms you signed.

Best bet had been suggested to you earlier, Sim lock, app locks, phone locks should be on your devices. Though these too can be bypassed but atleast it buys one some time.

This is so unlike the you I used to know sha.... You have become really aggressive on this matter. Believe when I say this is unlike you. I remember you from years back when you insisted that naira will improve in the days of Meffy, even in the height of provocation, you kept your cool, but on this one you seem to have gone paranoia. Yes Paranoia.

Anyway, sorry for money loss....

I always try to follow the arguments of when money is lost and even when questions asked. Like I am following streetinvestor line of question also to know my own vulnerabilities. There are some fraud cases I read and I am like, e go hard for me to fall for that one, then there are others and I am like, mhen I could easily have fallen for this one o...

Anyway, it is your call.

awesomeJ:


Your use of the word "paranoia" is out of place.

If you read the thread well, you would see where someone (davit) suggested sim lock, and how I reacted.

The fact that someone else makes a lame argument that having access to my sim means having 90% access to my account, and I refute doesn't mean you should be quick to use wrong vocabulary.

His entire arguments are lame.
I lost my sim, and my money at GTB was entirely intact, that already proves his funny 90% argument as faulty.

You should be open to ideas as well, but smart ones, not just any ideas thrown at you. You have to be smart enough to sieve out the incoherent ones.

dacool1:


I think you still don't understand something, different banks different security architecture, ACCESS BANK permits users to reset almost all other security measures via OTP sent to you Sim, you don't need to visit any bank branch before registering and using access bank app.
As for some other banks, they don't allow such, without multiple authentication factors, every system has its advantages and disadvantages.

To you, access banks architecture is a disadvantage but to some people it's an advantage. The truth of the matter is those people simply reset your details and proceeded with the transactions.

I think access bank needs to probably restrict any form of debit transactions for 24hrs after a pin reset to protect customers funds. But based on thier policy, don't even try contesting this in court except you went through the terms before consenting to the forms you signed.

Best bet had been suggested to you earlier, Sim lock, app locks, phone locks should be on your devices. Though these too can be bypassed but atleast it buys one some time.

This certainly is a reasonable explanation.
It quite explains the situation.

If it's true though, then it's a weak design, except of course it's only for USSD which is for small amounts.

But to be able to reset my app password without knowing my existing password, security question or visiting a branch would be too weak a design.

And I'm sure there would be security standards that guard against this that Access isn't implementing.

If what you're saying applies to all their channels that is.

But I doubt that it does though.

ojesymsym:
This is so unlike the you I used to know sha.... You have become really aggressive on this matter. Believe when I say this is unlike you. I remember you from years back when you insisted that naira will improve in the days of Meffy, even in the height of provocation, you kept your cool, but on this one you seem to have gone paranoia. Yes Paranoia.

Anyway, sorry for money loss....

I always try to follow the arguments of when money is lost and even when questions asked. Like I am following streetinvestor line of question also to know my own vulnerabilities. There are some fraud cases I read and I am like, e go hard for me to fall for that one, then there are others and I am like, mhen I could easily have fallen for this one o...

Anyway, it is your call.

Well, you obviously feel the need to flout your ignorance. All you need do is read with some level of mild comprehension, then you'd understand that no one is complaining about losing any money here. As a matter of fact, if they had taken more money from the other bank the situation would have made more sense. Read calmly to understand that the focus here is not about the 5 dollars taken but 100℅ on having a banking system that provides a reasonable level of confidence.

Anyways in the midst of all the noise from folks like you who feel the need to talk even though you really have nothing to offer on the subject, I was still able to sieve out useful info from others, the type I sought when I made the post.

Someone has said unlike other banks that have added security layer for pin reset, access just uses otp, if that's true, it explains the whole situation which is what I wanted, but then it shows a weak system design on their part. And about advantages and all, security usually takes precedence over convenience.

Then again, someone said, while this whole situation may not make sense, just set up sim lock to protect yourself.

Those sorts of inputs make it worth reading through the noise from folks like youyou who just have more of impulse to talk than the requisite knowledge.

Exactly, this has always been my point. Listen to alternative opinions, where the logic is not consistent point it out without being insulting.

Throwing insults around is purely classless I am afraid.

awesomeJ:


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Someone has said unlike other banks that have added security layer for pin reset, access just uses otp, if that's true, it explains the whole situation which is what I wanted, but then it shows a weak system design on their part. And about advantages and all, security usually takes precedence over convenience.

Then again, someone said, while this whole situation may notale sense, just set up sim lock to protect yourself.

.....