I am a mobile money agent that operates different banks’ POS. A lot of customers always run to my office whenever they have been defrauded in one way or the other. I help people in logging dispense error and fraud complaints to banks on their behalf, from there I have gained a lot of experience about different methods that fraudsters use to withdraw money from people’s accounts.
Today, I’ll let you know how fraudsters among POS agents can withdraw money from your bank account using your ATM without any OTP pins. Some POS Agents are fraudsters and some still sell your bank details to fraudsters.
Here are the methods they use.
1. When you get to a fraudster POS agent. He will tell you there is no Network on his POS.
2. He will ask you to let him use his phone to withdraw money for you using online wallet (Quickteller, Opay, WalletNg etc)
3. He will collect your card to input your card details into his wallet to add your card. Below are details of your card he will input.
Interface for WalletNg
Interface for Quickteller wallet funding
Interface for Opay wallet funding
4. After inputting your card details including your CVV, ATM card number, ATM expiry date, Your Date of Birth. He will save your card details.
5. After the transaction is successful, the money will enter his wallet and give you the cash and return your card.
6. First transaction on a card, the bank will send an OTP to your phone to authorize the payment.
7. When you become his loyal customer, he will be using the App to withdraw money from your account.
8. After several withdrawal on your card from the app. The app will recognized your card as an authorize card holder anytime he wants to withdraw money and it will not send OTP to your phone again.
9. Then, he will start withdrawing small amounts of money from your account like N100 for you to keep thinking it is from your bank.
10. That is why many people always see debit alert of small amounts they can’t claim at the bank on their account. Imagine if he does that for 20 customers per day that is *N100 * 20 = N2000* on his wallet per day.
Please, don’t allow any POS agent to withdraw your money using his phone, if there is no network on POS, wait till there is network or kindly go to a bank to withdraw your money.
Kindly share this good information with people around you to protect their financial assets.