Banker Narrates How he Used ‘Compromised’ PoS Machine, Customer’s ATM Card to Make Withdrawals 5 Times

Jul 29, 2023 | Entertainment, News

  • A former banker has narrated how he made a cash withdrawal with a customer ATM card without PIN
  • Uchenna Emmanuel said the PoS machine he used was compromised, which enabled him to carry out the fraud
  • He said he only made five withdrawals amounting to N35,000 from the customer’s account

An ex-banker, Uchenna Emmanuel, has narrated how he ‘mistakenly’ used a customer’s ATM card to make cash withdrawals five times.

The former cashier of one of the new-generation banks revealed this on Friday, July 28, 2023, as the Ondo Police Command paraded him in Akure.

PoS fraud, bank transfer, ATM card
Banker makes cash transaction with customer’s ATM without PIN
Credit: Ivan Pantic
Source: Getty Images

PoS machine reportedly compromised

Vanguard reports that Emmanuel claimed to have withdrawn the money from the account five times to buy an item worth N35,000.

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According to him, his PoS machine was compromised, making it easier to perform the fraud without Personal Identification Number (PIN).

He said:

“I mistakenly used the customer’s card to buy things from a company. I thought it was my card.

“The manager later found the card with me, and I was sacked immediately.

“They asked me how I knew the customer’s PIN; I said I used my PIN. They brought other POS, and a policeman also tried his ATM card. The transaction was successful.

“I used the customer’s card five times.”

PoS, ATM fraud rises to N3.62 billion

The development comes as Automated Teller Machines (ATMs, Point of Sale (PoS) terminals, mobile and other electronic channels, and cash accounted for N3.62 billion in fraud in Nigerian banks in the third quarter of 2022. earlier reported that the Financial Institutions Training Centre (FITC) stated this in its report ‘Report on Frauds and Forgeries in Nigerian Banks’ for Q3 of 2022, on cash theft incidents reported within the period.

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Bank fraud witness decline in Q3 of 2022

The 18-page document showed that in Q3 of 2022, about 19,34 cases were reported, compared to 20,195 cases witnessed in the same period in 2021, a decline of about 4.36%.

The amount involved declined from N34.8 billion to N9.62 billion, a drop of 73.34%.

However, the total amount lost in the same period in 2022 was N853.167 billion in 2021 as against N3.62 billion in the third quarter of 2022, representing a jump of 324.50% FITC said that outsider collusion in fraud spiked from 14,243 in the third quarter of 2021 to 16,125 in 2022, a 324.50% increase.

Insider collusion increased considerably from 32 in the third quarter of 2021 to 112 in the third quarter of 2022, representing a 250% increase.

“Transaction approved”: Man shares Hhow PoS operators access your bank account without your ATMs reports that a man has shared how technologies used by most PoS operators can store and retrieve your bank details without your ATM details.

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In a video posted on social media, a man was seen with an ATM tapping another man’s back pocket containing his financial cards.

The video shows the ATM printing out what appears to be a transaction receipt after the man’s back pocket gets tapped.


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