I have seen countless thread on FP where someone's account got hacked and his money wiped or where someone went to use ATM, the card got trapped and within minutes he starts getting alert.

What got my attention is that, on those threads, the majority of the comment you see there are pointing fingers to bank staff, that they are the one who collabo with scammers to wipe your account.

From my experience, the only way a staff can have access into your account and go uncaught is mostly when your alert number is not working or 3 or more staff collborate to steal for fund, because the chain of approvals in bank requires two or more person to approve a change of details in your account.

1) A staff can steal your fund if he successfully change and alert number, then forge your signature and carry out a transaction on your account. This way, you wont receive alert and will not be in the know of what has happened to your account. But any day you come to the bank and find out what happened, the staff will definitely be caught except if he has left the bank before you raised alarm.

Why this cannot work. To deactivate or change your alert number can be done only at customer service and requires multiple levels of authorisation. Then to perform a transaction on your account can only be done from teller point or fund transfer unit. Now, teller/fund transfer is a different unit from customer service. Hence this type of fraud is highly unlikely, except there is a collabo, between staff across units and also the senior authorising staff.

2) If a staff gives your details to a fraudster; the only scenario where this will happen is when the staff forge your signature and then look for a fraudster who will come into the bank and pose as you, then decieve the processing staff into transacting on your account.

Why this cannot work. Except an old generation bank, these days before performing a transaction on a staff account, the customers finger print will have to be verified and if the verification isnt successful, the transaction cant be processed. So this method is an old method.

3) When you card got trapped and you feel the staff took it and withdraw your money. This can only happen when the staff happen to know your ATM pin. Yes, some sites and eCommerce stores are configured in such a way that you can use ATM card to make purchase without entering your pin, but in this case, there will be a soft token sent to your line for confirmation. So for someone to make use of your card for payment/purchase, it then means that your pin is well know to the person.

Your card got swapped....

Except a staff is about to resign of japa, a staff will unlikely "touch" a customer's account because as long as the staff is still in the system, he/she will definitely get caught.

Disclaimer... Am not in any way saying that staff dont compromise customer's account, just that in most cases of account hacking, bank staff are higly unlikely to be involved.

HOW THEN ARE YOUR ACCOUNTS HACKED/COMPROMISED

I saw another thread on FP of Shaun George complaining that her money have been wiped away and tranfered to an opay account.
When you look at the description on the alert message, it reads "NIP/CR/....." From my little experience in banking trasaction, that trnasfer was made from a mobile app, either through her phone or someone close to her had access to her banking peripherals such as token, etoken or ATM card. Assuming the transaction read like "ATM purch or Interswitch..." we could be guessing that a big time hacker did that. But this particular one, her phone was compromised and her mobile app was used to make the transfer or her banking peripherals fell into the wrong hands.

In other to avoid been a victim, safe guard your phones and banking peripherals very well. At all time, let your phone be with you. I have seen some people having their ATM card at the back of their phone. If someone sees the digits of your ATM card, its enough to cause damage to you. Because it can be used to reset a lot of your banking details.

Always change the password of your phone screen lock. Mayb every month, you change the pass word. A lot of people are monitoring you without you knowing, all they are waiting for is just a mistake from your.

I have a friend whose colleague transfered the guys salary to a POS agent. I and my friend went to the bank to rake at the customer service. Only for the bank to tell us that its not the first time my friend sent money to that account, how come we are disputing this particular transaction. We went to the POS guy, the POS guy told us that its my friends room mate who came to collect the money from him. You see the problem, assuming we werent able to locate where the money was transfered to, that money would have been long gone and probably my friend might come and create a thread accussing bankers of wiping his fund not knowing its was done by his room mate.

Most of the time, its those who are close to us that uses our weakness or carelessness to steal our funds. ANd because the are close to use, we will never suspect them but rather point our fingers to the bank.

CONTINUATION

When you are always making purchases using POS, you are exposing your account. This is because some POS agent have learnt the skill of either swapping customers card or intentionally putting a device on their POS to gather customers information and before you know it, you will start receiving alert in the middle of the night.

I dont want to demarket any fintech, but the POS of one particular fintech is largely used for such act. And if you check the statistics of victims who got unathorised debit through POS, the money usually goes to that fintech.

When you make purchases online, you are equally exposing your self as some unsecured site can easily be hacked and your banking details stolen. Have you ever wondered how out of the blues, a soft token is been sent to your phone to authorised a trnasaction, Its issues like this that got your account compromised.

Know the services that you bank offer and know which one you applied for and using. Some of us might have applied for mobile app, USSD, ATM, Internet banking. But we are only using one or two of what we applied for. The implication is that, you have given hackers the window to activiate any of the remaining banking service and use it to wipe our funds,

Some times we respond unnecessarily to calls and message sent by scammers, there by given them enough information, no matter how small, which they can use to get hold of our funds.

What some of you dont know is that CBN through commercial banks have given individuals(AGENTS) right to enroll BVN for people. These individuals have access to CBN-BVN data base. So if they should enter a particular BVN number into their system, the persons name and other details pops up. This way, criminals among them can permutate BVN number, enter it and gets the person details then they call the person and try to extract valuable information that will help them hack your accout. Even some of this fintech apps, when you want to open an account, they request for your BVN, then when you enter it, the BVN details comes up. These are ways that hackers gets costomers information, and when they call you and read out your details to you, you will be thinking they are calling from the bank, whereas they are scammers who have used advantage of the system in place to get you details.

HOW TO PROTECT YOUR ACCOUNT

The basics: Have a separate account where you keep small funds for logistics and small expense. This account you can use the ATM to purchase from anywhere, you can do anything with it. This way, when the account gets compromise, you have nothing much to loose.

Avoid having mobile app and your alert number on same phone. This is a disaster because if that phone gets missing, any one who picks it can easily reset your banking details and move your funds.

When ever you are using ATM machine, dont allow any one to help you. This is the method they use in swapping peoples card, then you will think that your card have been trapped by the machine, without knowing that it was swapped.

If you have multiple accounts, if possible, use different number for alert. it will save you in case you ohone gets compromise.

Ensure that what ever banking services you applied for, such as internet banking, USSD, mobile etc, that you are using them. If you are not using them, go and deactivate the once you are not using, Such loopholes can help scammers get to your account.

Always use POS stands that have solid structure. Some of these POS agents whose stands are movable are likely hackers. When they get some customers details, they move to another location.

If you receive any call from anyone claiming to be calling from the bank, plz dont give out any details like your card numbers, card pin, token etc.

Whne you recieve messages for you to click and win a prize, if its not a message that u are expecting, dont click, you might end up compromising your phone giving room for hackers to wipe your account.

The bottomline is, be in the know how how your banking transactions work. Understand what can be done to your account if you misplace your phone, card or token. Also under what to do when any of your banking peripherals is missing. All banks have the code for emergency blocking of account in case something goes wrong. Also understand the implication of compromising your banking details.

When you know all this, it will better equip you against scammers and hackers

Lol, only one bank staff with access to the backend details can wipe your account without sending alert to any number attached to receive alerts. Some of them with admin access even go as far as wiping illegal transaction details from their server in order to render the transaction untraceable. When they say bank staffs are involved, they're not talking about cleaners or housekeeping. Also, bank staffs can give hackers key details to your account to make the hack successful.

Currently, at Access Bank small small amounts of money like N20 and below drops from your account balance every 45 days and you won't receive alert for the mint cuts neither would you even notice it and when next you receive alert for a genuine transaction you may think the cuts are bank charges. While GTBank would even charge you yearly for ATM card that you never applied for. Most of these illegal transactions comes from the bank server and they're not errors, they were set by somebody.

Remman:


Lol, only one bank staff with access to the backend details can wipe your account without sending alert to any number attached to receive alerts. Some of them with admin access even go as far as wiping illegal transaction details from their server in order to render the transaction untraceable. When they say bank staffs are involved, they're not talking about cleaners or housekeeping.

Like I said earlier, any staff who tampers with customers account is likely a staff that is about resigning or about to japa, because if a staff does that, it wont take long before he will be caught. So the tendency of your account getting wiped by a bank staff is very very small.

Also, bank staffs can give hackers key details to your account to make the hack successful.

What details is the staff giving to the hacker..? Is it BVN, Acct num, phone num or what. A hacker who have what I listed can not do anything to your account except the staff helped the scammer to change the phone number on your account. And doing that will require multiple authorisation as its the standard in most banks. ANd thats highly unlikely.

Currently, at Access Bank small small amounts of money like N20 and below drops from your account balance every 45 days and you won't receive alert for the mint cuts neither would you even notice it and when next you receive alert for a genuine transaction you may think the cuts are bank charges. While GTBank would even charge you yearly for ATM card that you never applied for. Most of these illegal transactions comes from the bank server and they're not errors, they were set by somebody.

If you go through your account history, you will see the details of those deduction been made from your account. Its usually SMS charge or Stamp Duty charge(Electronic transfer Levy). Some banks dont send sms for such transaction. So its not the staff that is stealing your money, its the usually banking charges that is been debited.

Remman:
Lol, only one bank staff with access to the backend details can wipe your account without sending alert to any number attached to receive alerts. Some of them with admin access even go as far as wiping illegal transaction details from their server in order to render the transaction untraceable. When they say bank staffs are involved, they're not talking about cleaners or housekeeping. Also, bank staffs can give hackers key details to your account to make the hack successful.

Currently, at Access Bank small small amounts of money like N20 and below drops from your account balance every 45 days and you won't receive alert for the mint cuts neither would you even notice it and when next you receive alert for a genuine transaction you may think the cuts are bank charges. While GTBank would even charge you yearly for ATM card that you never applied for. Most of these illegal transactions comes from the bank server and they're not errors, they were set by somebody.

Bro, in the bank one person cannot start a transaction and finish it...There's always an initiator and an authorizer even in their IT department..
To write ordinary letter in the bank, it must be signed by at least 2 staffs.

Jogs1900:

Bro, in the bank one person cannot start a transaction and finish it...There's always an initiator and an authorizer even in their IT department..
To write ordinary letter in the bank, it must be signed by at least 2 staffs.

Its wat some people dont know. Even to withdraw 100k from customer's account, 2 or 3 staff must have to be involved.

For some transactions, some banks have:
INITIATOR
VERIFIER
AUTHORIZER.

And except the above staff collaborate among themselves, its very difficult to tamper with customer's account.

Jogs1900:

Bro, in the bank one person cannot start a transaction and finish it...There's always an initiator and an authorizer even in their IT department..
To write ordinary letter in the bank, it must be signed by at least 2 staffs.

It means you don't know how computer database works. Do you know what "ADMIN" "BACK-END" "C-PANEL", ETC. means in a computer database network management system? Bank staffs involved in this hack is like a syndicate.

Similar thing happens in most hotels where almost all the Staffs would come together to steal from the hotel and share the money anonymously.

Based on the complexity of technology in place now, it is almost impossible for staffs not to be involved in such fraud. Even if FBI is investigating bank fraud, they first do research on all the staffs.

You simply don't know how this works. Do you?

Rich4god:

Like I said earlier, any staff who tampers with customers account is likely a staff that is about resigning or about to japa, because if a staff does that, it wont take long before he will be caught. So the tendency of your account getting wiped by a bank staff is very very small.

What details is the staff giving to the hacker..? Is it BVN, Acct num, phone num or what. A hacker who have what I listed can not do anything to your account except the staff helped the scammer to change the phone number on your account. And doing that will require multiple authorisation as its the standard in most banks. ANd thats highly unlikely.


If you go through your account history, you will see the details of those deduction been made from your account. Its usually SMS charge or Stamp Duty charge(Electronic transfer Levy). Some banks dont send sms for such transaction.

LMAO! You've never experienced it. You will niether get alert or see the transaction history for it.

Remman:
It means you don't know how computer database works. Do you know what "ADMIN" "BACK-END" "C-PANEL", ETC. means in a computer database network management system? Bank staffs involved in this hack is like a syndicate.

Similar thing happens in most hotels where almost all the Staffs would come together to steal from the hotel and share the money anonymously.

Based on the complexity of technology in place now, it is almost impossible for staffs not to be involved in such fraud. Even if FBI is investigating bank fraud, they first do research on all the staffs.

You simply don't know how this works. Do you?

Do you know the meaning of syndicate that you wrote?...
Try to understand...Any customers transaction in the bank must surely involve more than one person.Agreed there is fraud in the bank but no matter what, One person cannot start a transaction and finish it in the bank.

Remman:
LMAO! You've never experienced it. You will niether get alert or see the transaction history for it.

How is that possible...It's against the principle of banking...Your account balance cannot change without seeing how the money entered or left..Try to learn by going through your account statement periodically...Don't listen to what people say.

Jogs1900:

Do you know the meaning of syndicate that you wrote?...
Try to understand...Any customers transaction in the bank must surely involve more than one person.Agreed there is fraud in the bank but no matter what, One person cannot start a transaction and finish it in the bank.

Add crime in front of the syndicate for your understanding of what i meant by syndicate. In summary there are "CRIME SYNDICATES" in some banks who carry out "UNTRACEABLE" frauds in their banks.

Since I started banking, I have never been hacked.

I have multiple accounts for all the banks. I ve worked as an accountant for multiple national companies with transactions of 100m each on like 10 - 12 accounts daily. They have never been hacked.

If your account is being hacked. Check yourself or employ an accountant.

Remman:
It means you don't know how computer database works. Do you know what "ADMIN" "BACK-END" "C-PANEL", ETC. means in a computer database network management system? Bank staffs involved in this hack is like a syndicate.

Similar thing happens in most hotels where almost all the Staffs would come together to steal from the hotel and share the money anonymously.

Based on the complexity of technology in place now, it is almost impossible for staffs not to be involved in such fraud. Even if FBI is investigating bank fraud, they first do research on all the staffs.

You simply don't know how this works. Do you?

Go back to my first post. I in no where said that bank staff dont commit fraud. I mentioned that all these cases of customers account been wiped out are "highly unlikely" to be carried out by bank staff, except there is a collabo between group of staff.

And mind you, this type of back end hacking that you are talking about, most of them time its not customers account that they tamper with. They usually tamper with banks ledger. And still, its cant be done by one man, its usually a collabo or a negligence from the part of the staff who is supposed to authorise or verify the transaction.

Remman:
Add crime in front of the syndicate for your understanding of what i meant by syndicate. In summary there are "CRIME SYNDICATES" in some banks who carry out "UNTRACEABLE" frauds in their banks.

No fraud is untraceable in the bank, you can only say that they werent discovered early enough. Somewhere someday, the bank will discover. Except if the various unit in the bank arent doing there work.

Remman:
LMAO! You've never experienced it. You will niether get alert or see the transaction history for it.

Not possible...

If your opening balance is $10 and your closing balance at the end of the month is $5, some where in your history, you will see where the $5 dollar have gone. Its possible you didnt get alert, but you will definitely see it in your statement.

Now if your statement is missing some transaction, which is highly unlikely, the bank system can tell who and when your statement was tampered with. This is why I said, its very very unlikely that a fraud can not be traced in the bank, the only thing I know is that the fraud might not be detected fro a long time, but will one day be traced.

Remman:
Add crime in front of the syndicate for your understanding of what i meant by syndicate. In summary there are "CRIME SYNDICATES" in some banks who carry out "UNTRACEABLE" frauds in their banks.

Anybody that has the ability to do this will not debit the customers account instead debit the bank ledger billions of naira straight.

The poster is funny . Just a couple of days back the efcc chairman said they brought in a seventeen year old boy hacker into his office. All this boy needed was a laptop and the chairman's phone number . With which he was able to access his bvn number. Bank account details and othersand in minutes he was asking the chairman where will like the fund in his account to be transferred to

gold360:
The poster is funny . Just a couple of days back the efcc chairman said they brought in a seventeen year old boy hacker into his office. All this boy needed was a laptop and the chairman's phone number . With which he was able to access his bvn number. Bank account details and othersand in minutes he was asking the chairman where will like the fund in his account to be transferred to

I watched that video, and I can tell you that, yes what that boy did is not rocket science. Its what you can even do if you undertand USSD banking. I wont say much here just so that others wont go and be trying it. But if I have your phone, there is a USSD code that can be used to retrieve your BVN number. There is a USSD code that can be used to check which bank you have acount with. All that is needed to be done is to have access with the victims phone.

DO you know why the rate at which criminal stab innocent people just to have their phone. This is because beside selling the phone, there are syndicate that pays more money to have the victims sim card. Its same method they use to hack account. With you pjhone and sim with them, they can reset anything they want to reset and access your account.

gold360:
The poster is funny . Just a couple of days back the efcc chairman said they brought in a seventeen year old boy hacker into his office. All this boy needed was a laptop and the chairman's phone number . With which he was able to access his bvn number. Bank account details and othersand in minutes he was asking the chairman where will like the fund in his account to be transferred to

You're over exaggerating the efcc story 🙄...bvn can be queried with ussd code, but bvn and nin alone is not enough to enable a wire fraud,logs are required with matching data. As for the other OP talking about crime syndicate and how they siphon money, that's right. Read a thread on Twitter where a programmer had backdoors on major fintechs unnoticeable until a junior dev guy on maintenance discovered the anomaly. The OP has only succeeded in explaining the technical aspects of banking before the complexity of electronic and instant transfer were a thing. Most Nigerians can't recall last time they were in a banking hall safe for an issue or sth. But with convenience comes greater risk. Have you seen the Nigerian bank fraud report? It's crazy. Hackers and keyloggers/scammers no longer bother with Yankees now the chicken has come home to roost

That is why I am studying cyber security, Tinubu bank account go hear am after I graduate

Rich4god:
HOW THEN ARE YOUR ACCOUNTS HACKED/COMPROMISED

I saw another thread on FP of Shaun George complaining that her money have been wiped away and tranfered to an opay account.
When you look at the description on the alert message, it reads "NIP/CR/....." From my little experience in banking trasaction, that trnasfer was made from a mobile app, either through her phone or someone close to her had access to her banking peripherals such as token, etoken or ATM card. Assuming the transaction read like "ATM purch or Interswitch..." we could be guessing that a big time hacker did that. But this particular one, her phone was compromised and her mobile app was used to make the transfer or her banking peripherals fell into the wrong hands.

In other to avoid been a victim, safe guard your phones and banking peripherals very well. At all time, let your phone be with you. I have seen some people having their ATM card at the back of their phone. If someone sees the digits of your ATM card, its enough to cause damage to you. Because it can be used to reset a lot of your banking details.

Always change the password of your phone screen lock. Mayb every month, you change the pass word. A lot of people are monitoring you without you knowing, all they are waiting for is just a mistake from your.

I have a friend whose colleague transfered the guys salary to a POS agent. I and my friend went to the bank to rake at the customer service. Only for the bank to tell us that its not the first time my friend sent money to that account, how come we are disputing this particular transaction. We went to the POS guy, the POS guy told us that its my friends room mate who came to collect the money from him. You see the problem, assuming we werent able to locate where the money was transfered to, that money would have been long gone and probably my friend might come and create a thread accussing bankers of wiping his fund not knowing its was done by his room mate.

Most of the time, its those who are close to us that uses our weakness or carelessness to steal our funds. ANd because the are close to use, we will never suspect them but rather point our fingers to the bank.

You have a point.
You know Opay can see everything we do on our phone?... And they have loan shark (where they make all the money they generously give customers that recharge)... And their loan staff has access to all these information.

Rich4god:


No fraud is untraceable in the bank, you can only say that they werent discovered early enough. Somewhere someday, the bank will discover. Except if the various unit in the bank arent doing there work.

It is mathematics. 1+1 would always be 2

Lame, there a lot more important things you didn't say to inform people rather you are making them feel relaxed with your lame comments.

Dronedude:
Lame, there a lot more important things you didn't say to inform people rather you are making them feel relaxed with your lame comments.

YOu can as well add your own....

Understanding how payment systems works through a Google search could offer a clearer understanding. While I'm not implying that bank employees can participate in hacking, it's crucial to grasp the complexity of security measures. In cybersecurity, a bank employee aiding hackers in such activities would be labeled an 'insider threat.' This type of threat is significant enough to potentially disrupt the entire banking system. What Op is alluding to are the misconceptions perpetuated by some individuals, particularly in Nigeria, who mistakenly blame every financial loss on bank employees.

flystrategist:
Bank employees have access to the backend systems and databases, but it's important to clarify the level of access they possess. Privileged access management ensures that backend developers, for example, have limited capabilities within the database, typically restricted to querying data for their work.

Suggestions that bank staff could easily facilitate hacking overlook the stringent controls in place to prevent unauthorized access.


A google search on how payment system works would give you a better idea” I’m not saying bank staffs can be part of a hack, but it’s more complex than you think. In Security, a bank staff who helps hacker facilitate this type of hacking would be called “ Insider” this type of hacker has to be so serious that it can bring down the entire banking system. What hope is referring is the lies perpetrated by an average Nigerian who thinking every time their most disappears, it means a banker was behind it.

Exploring how payment systems operate through a Google search could offer a clearer understanding. While I'm not implying that bank employees can participate in hacking, it's crucial to grasp the complexity of security measures.

In cybersecurity, a bank employee aiding hackers in such activities would be labeled an 'insider threat.' This type of threat is significant enough to potentially disrupt the entire banking system. What the poster is alluding to are the misconceptions perpetuated by some individuals, particularly in Nigeria, who mistakenly blame every financial loss on bank employees.

Well said....

ALL BANK STAFF AND CUSTOMERS BEWARE.

SCAMMERS ARE EVIL WORKERS PHINSHING FOR LOOSE INFORMATION ALWAYS WHEN THEY GO TO BANK,OT ATM
THEY LOOK AT YOUR TELLERS DETAILS WITH THE BANK REGISTER WHILE FILING IT,THEY LOOK AT YOUR CHEQUES,THEY NOSE AROUND FOR CLUES TO HACK ACCOUNTS

ALSO SOME ATM PRINT OUT LIKE THOSE BY ACCESS GIVES AWAY SENSITIVE ACC DETAILS THAT CUSTOMERS IGNORE AND LITTERS AT ATM,SCAMMERS PICK THEM AND FEAST ON THEM.

ALSO,IF YOU OBSERVE SOME BANK CSU STAFF OF THESE DAYS ARE NOT TRAINED OR CONSCIOUS TO PROTECT CUSTOMERS CONFIDENTIALITY,BY FAILING TO KEEP THE SUBMITTED DOCUMENT OF CUSTOMERS SECURE,OR ENCRPTING CUSTOMER ALERT OR INTERNET BANKING,

Bank staffs are responsible for 95% theft!