ATM Pain

Posted by Osumenyi on June 23, 2009 at 10:15:00:

A lot of ATM card holders have been crying to many of their banks lately especially this year due to the increasing rate at which fraudsters have been literally emptying their banks accounts without their authorisation. When ATM cards were fisrt introduced into Nigeria by the banks, customers were ahppy that theyr no longer need to go through much pain to make withdrawals from their acounts but lately, there has been increasing cases of funds dissappearing from customer accounts and the Nigerian banks are simply laying the blame at the foot of the customers who may have carelessly given their pins to fraudsters without knowing. Imagine someone whi had N250,000 in his account at the begining of the day, before evening he gets text messages that N120,000 has been debited to his account even though ATM limits have been pegged at N100,000 per day. Those cases and others have been linked to online payments made with their pins without their consent. These fraudsters have been causing a lot of pain for banks, her customers and most importantly the issuing companies like Interswtich, Etransact. The fact that this sort of theft can be done may only go to show how porous their security measures must be and will only lead to people rejecting ATM cards which could put the card companies out of business. I know of people who are mostly glad that they did not even embrace the ATM cards till date, by now their reasons have been justified. Online theft is a growing pain for users as well as issuers in Nigeria. It is not just the case of rumours that cards can be cloned and used to make withdrawals from ATM machines, but also the increasing rate at which pins have been stolen and used to make online purchases. This kind of fraud ought to be traceable by the issuing company and banks only that most Nigerian banks don't have a good customer service and Nigerians would not want to waste their time going to banks to recover their funds. ATM instead of being a blessing in Nigeria has turned to a growing pain for people here. One of the measures that I've seen the concerned companies doing is sensitizing the public about the secrecy of their cards and pin numbers. Users have been recieving a lot of texts(sms) informing them of a lottery or winning in a Telecoms company and advising them to retrieve their winnings by providing sensitive details including pins to fraudulent websites. What the ATM holder needs to do is to say NO to this type of scam by deleting the messages, publicizing the concerned websites to make people aware and reporting it to your bank or authorities. You can publicize the fraudulent websites here or any horrible experience that you may have had with your ATM card.

Re: ATM Pain

Posted by Okey on June 26, 2009 at 00:38:13:
In Reply to: ATM Pain posted by Osumenyi on June 23, 2009 at 10:15:00:



I lost 20,000 from my account through a fraudulent withrawal. I don't know who i shouls hold responsible - the bank or the thief.



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Re: ATM Pain

Posted by Solamax on July 11, 2009 at 02:42:32:
In Reply to: ATM Pain posted by Osumenyi on June 23, 2009 at 10:15:00:



Maybe you should hold your bank or yourself responsible. A thief would not withdraw money from your account without your consent



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