Fraudsters seek information to hack into parents’, other victims’ bank accounts PART 3 (CONCLUSION)

sketchy

[br] [br][br][br]‘How bank workers connive with hoodlums’[br][br]The advice by experts that bank customers should keep the passwords they use for banking transactions secret appear inadequate.[br][br]The recent busting of a syndicate that works with a banker to hack people’s accounts explains the hydra-headed nature of the crime.[br][br]To get victims’ phones, the syndicate liaises with pick pockets who steal phones and take the SIM cards to them and get paid.[br][br]Explaining his role in the group, a member of the syndicate, Ohiozogie Joseph, said: “My role is to get details of the Bank Verification Number from stolen SIM cards. Thereafter, I will contact Oracle and Hunter (still on the run) who are into internet fraud. They would deactivate the settings and withdraw money from any available ATM machine or transfer online to a Merchant bank. I get at least N50,000 at the end of each transaction. “[br][br]The banker, who worked with the group, Chris Amaechi, disclosed that he had done six transactions with one of the members. His role was to give full details of victims’ accounts, particularly those who have accounts with his bank. He said: “A friend, Ayobami, popularly called AY, gave customers’ details to me to withdraw money. At times I gave them the exact account, if the owners of the account banks with us. I met AY in December 2017. I have so far done six transactions with him but not all went through. In my own bank, the stolen SIM must have an ATM card for withdrawals of such to be possible. One Gabriel also approached me for the same deal. We have been talking but he was yet to give me any deal before I was arrested.”[br][br]Asked if he had ever received complaints from victims, he replied: “I do not work in the unit where customers lodge complaints. I work in Cards Services Department. I was employed as a contract staff 11 months ago and I earn N75,000 monthly.”[br][br]As for Nelson Matthew, he stated that he only accepted SIM cards of a particular bank (name withheld) from pickpockets. Explaining, he said his role was to “do USSD transfer by rolling victims’ SIM cards. For instance when such SIMs are given to me, the first thing is to get the person’s account number and the code. All I need to do is dial *901#. This is followed by a request to create a pin and another request for code. Again, I will dial *565 # which will reveal the 10 digits of the account holder’s BVN. From there, I will take the last four digits and create another pin. Thereafter, I will make transfer online, to a merchant account. I did this over 15 times last year but this is my first attempt this year”.[br][br]“Our targets are those who store their account numbers on their phones. We also get account details through alerts on phones.”[br][br]Another suspect, Henry Omagbemi, said he was into the USSD transfer of accounts of two particular banks which daily withdrawal unit is N200,000. He said: “I get between N40,000 and N50,000 on each withdrawal. All I need is the SIM cards, which are brought to me by pickpockets. I only know one of the pickpockets, Obinna; his share is N70,000 on each successful withdrawal.[br][br]“At times, when I get a SIM, I will contact AY who will get the banker that will give us the last four digits of the account holder. At the end, the banker (Ameachi) gets N20,000”.[br][br]One of the suspects, Muna John, was discovered to have had his last transaction two weeks earlier where N200,000 was withdrawn from the victim’s account. He stated that a relative of the victim brought the SIM to him. “Somebody called and said he had his brother’s SIM card in which was an alert of N360,000. I contacted AY who told me that he was not around. I had to call Gabriel because I didn’t know how to go about it. He (Gabriel) collected the SIM and sent it to the banker, from where N200,000 was withdrawn”.[br][br]SIM lock as possible solution to hacking[br][br]An IT expert, Ken Ozi, said one of the ways people can keep their accounts from being hacked into is by putting password on their SIM cards. “When SIM cards are pass-worded, the thieves cannot unlock it but they can unlock a phone that is locked by merely flashing the phone.”[br][br]Explaining how a SIM card can be locked, he said: “The first thing you’ll need to do is to go to the settings menu. From there, you click on the security and location.  Here, under the device and admin, you will see ‘lock SIM card’. Just like you do on your ATM machine, you will have to input the code given by the network provider. For many, this is just 1111. Note that if you enter this incorrectly three times, it will render your SIM useless.  If you input 1111, and it doesn’t work on the first try, you would need to contact the network provider to get the correct default code.[br][br]“Once you enter the correct PIN, SIM lock will be switched on. At this point, you’ll want to tap the second entry in this menu: ‘Change SIM pin’. You’ll enter the current PIN (again, the default); then select one of your own between four and eight digits.[br][br]“After you confirm the new pin, you are good to go. Your phone will thereafter require both your current lock screen security entry and the locked SIM to be installed before it can be used. If you forget your SIM password, and input the wrong one three times, your line would be blocked and you will need the network provider to help you out”.[br][br]Our position, by CBN[br][br]The Director, Corporate Communications, Central Bank of Nigeria (CBN), Mr Isaac Okoroafor, in a telephone chat with The Nation, said hacking into people’s accounts is a criminal issue and has nothing to do with the apex bank.[br][br]“You can ask the police all that.  It is not for the Central Bank.  We are not the police now.[br][br]In the banking system, under the CBN regulations, it is expected that every bank put up measures to ensure that their technology is safe for customers.  The measure is to ensure the safety of people’s accounts, and the technology that is being used.[br][br]“On the other hand, the CBN enjoins customers to make sure that their pins and passwords and other information are kept safe. Fraud happens from many angles. It could be from people breaking into the system, or people exposing their pins and passwords. That is all I can tell you for now. I have told you what I know and I cannot go beyond that.”[br][br]In a separate telephone interview, former Second Vice President of the Nigeria Bar Association (NBA), Monday Onyekachi Ubani, explained why a commercial bank can be held liable when a customer’s bank account is hacked.[br][br]“The bank has no liability. Even the CIA stuff that is so tight is being hacked. It is a criminal act. The bank can only be liable where they are negligent. You have to provide an expert to proof that the bank did not provide a fraud proof protection for your account. In the absence of that, there is no way the court can just give you damages.[br][br]“What I am trying to say is that banks can only be culpable where there is absolute negligence, or an omission on their part that makes a customer to lose money. If a staff of the bank is involved in the scam and it is proven that the person is a staff of the bank, then the bank will be liable

SonofBukoye

seriously?

Leriche01

Thanks