POS Fraud Alert: How to Avoid Been Scammed by POS Agent

There was a time in the history of trading and commerce that one had to carry a lump sum amount of yams in exchange for a goat. Times changed and the mode of payment was cowries. Further down the lane, paper currencies and coins became the means of transaction. Now in the 21st century all you need do is swipe a card, punch some digits and your transaction is successful.

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A POS (Point Of Sale) terminal, more commonly called “POS machine” in Nigeria, is a portable device that allows businesses to accept bank card payments for transactions. Most POS terminals are issued by banks. The POS system was introduced by the Central Bank of Nigeria in 2012 as part of its plan to enforce the cashless policy in financial transactions across the country.

POS agents are now many in Nigeria. It is very difficult to identify a scammer POS agent and some criminals are using the means to exploit and steal sensitive users’ data, including debit and credit card numbers. So we need to stay informed about new methods for compromising data as well as what we can do as POS users to prevent them.

When you go to POS to withdraw your money, you have to be very careful when you hand over your ATM card to an agent. This article will show you how you can be Scammed when you go to withdraw from POS Agent when you not careful.

There are some POS Agents that built their kiosk in such a way that the customers cannot see anything that they are doing. When you give the agent your ATM card. The agent will quickly snap the front and the back of your ATM card with his Android phone. Some criminals often use installed cameras to obtain access to your card details.

After that, he will help you to insert your ATM card inside the POS and ask you to enter your PIN, he will try to master the PIN you entered or look at the keyboard of the POS after you enter your PIN. They 4 keypads your enter will be rough.

After that he will have gotten your ATM card number, your CVV, your PIN, and your card expiring date which are the details he needs to withdraw money from your account using an online platform.

If you receive any call claimed from your bank that a 6-digit number has entered your phone that he needs it to confirm your account number. Please don’t reveal it to him that is what will call OTP, once he enters that 6-digits number you will see a debit alert.

POS Fraud Prevention

Since this is a quiet lengthy article, we have added a table of contents for easier navigation.

  • If you go to Point of Sale (POS) to withdraw money, make sure your eyes are everywhere to see all actions that the POS agent is performing using your card.
  • Also, cover your PIN number when entering it. Criminals often use installed cameras to obtain access to your digits, but covering them completely can certainly help prevent fraud.
  • Another way to prevent data theft is to check your credit card and debit card transactions regularly for fraudulent charges and contact your bank right away should you notice anything suspicious. If it is reported within a few days, most banks can reimburse you for unauthorized activity and they are more likely to be able to prevent further charges from occurring.

It is up to you to fight back against these criminals and remain vigilant. Kindly share the post with your people to learn from it.

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