DO YOU KNOW? Nigerian PoS Agents Now Work With Yahoo Boys To Defraud People (See How)

You need to stop using POS machine for cash withdrawal moving forward, if you don’t want to cry and lament “Had I Known”.

Most of the PoS agents are scammers and work with Yahoo boys. They carry out the fraud by manipulating security information in a customer’s Automatic Teller Machine (ATM) card such as Personal Identity Number (PIN), Card Verification Code (CVC) and other details.

They’d forward it to Yahoo boys an your money will go vanishing.

It is sad that eight years after the Central Bank of Nigeria (CBN) introduced the agent banking system to boost financial inclusion through Point of Sale (PoS) terminals, fraudsters have deployed the tool to defraud unsuspecting members of the public.

There are concerns now that the fraudulent practice of some unscrupulous operators in the system will defeat the lofty goals of PoS under which financial institutions and mobile money operators have been licensed to provide financial services to members of the public.

Someone I know just lost 5 million naira not too long ago. The young man almost committed suicide. It happened this morning at stadium road Portharcourt.

Y’all should be careful out there, strange things are happening.

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