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Wednesday, July 11, 2018

BEWARE! New ATM Scam; you Lose Your Money and Still get Arrested

Every single day, fraudulent people device new means of ripping unsuspecting victims off their hard-earned money. ATM scam and theft is not new, expecially last year when it grew out-of-hand in Lagos and some other states. But this new method is actually “one blow, two death” as you'll lose both your money and freedom in most cases.

BEWARE! New ATM Scam; you Lose Your Money and Still get Arrested

Imagine trying to help someone out at the ATM and getting jailed for it. Well, there is a new trend of scamming and fraud that can make unsuspecting victims land in serious trouble.

What is this new scam and how does it work? Narrated in 4 paragraphs:

  1. When you are on the ATM queue about to withdraw, someone (the Fraudster) shows you money they've withdrawn already claiming that they have exceeded their withdrawal limit but still need more cash. They then beg to send money into your account so you can withdraw it for them.
  2. This looks quite normal and harmless, but what you don't know is that the transfer into your own account is made from a stolen phone or hacked account.
  3. The original owner, upon seeing the transaction made on his or her account alerts the bank and would then send out a circular to the recipients bank with instructions such as freezing of your account, BVN flagging and sometimes an order for your arrest.
  4. Now, your ATM card won't work when next you try to use it because it has being blocked by the bank. It is also a tactic to lure you to go to your bank to complain. You will then have to explain yourself at the bank (how come you received stolen money), and that is if you are not even arrested immediately.

Two cases like this were reported in a single bank in just one week. If luckily you aren't arrested at the spot, you have to run to the police station and report yourself. Meanwhile, your account will still be freezed throughout this period.

How to Stay Safe

It's simple, don't help anyone in the ATM box and don't ask someone to help you too. It is written at most ATMs that if you experience any difficulty or error, approach the security or any bank worker. Some guys memorize ATM card PINs faster than multiplication or times table


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