Thread by @pfemiolaleye

My experience with card fraud .

Gtb @gtbank

And the police @NigerianPolice

A thread !

As some of you know already yesterday I was robbed of some items . They included my phone's ,ATMs and laptop . I have since reported this case to my banks and the police . The case is ongoing .

I had by the leading of the spirit moved most of my money into an investment wallet and only had some maintaince money in one account and little or nothing in my @gtbank account .

Now the thieves stole my phone which had a password and my sim was inside it . The sim inside was connected to my USSD functionality . I didn't think there would be problems as I didn't have more than 2,000 Naira in that account .

I immediately went to the first bank and informed them as I couldn't call . They locked the account and changed my gadgets . I retrieved my lines from @AirtelNigeria and was able to make calls by yesterday evening .

I had one gadget which was not stolen that I used to check my mails . At about 12:30am I saw a debit of 150,000 from a company called Capricorn digital Nigeria ltd .I don't know who they are and saw a balance of over 2M in my account. I didn't know where this money came from.

Immediately I sent a mail to my account manager to lock my accounts as something fishy was going on .They did so this morning . I then headed to @gtbank luth branch to find out what happened as I couldn't log in to my app. It was then I heard the shocker.

The miscreants had used my sim to request for a quick credit loan of 4M and @gtbank disbursed the money to my account. I got no mail to confirm this application neither did I get a notification of the credit till now ! Nothing !

I was then shown that little sums where being transferred to different accounts to the tune of 1.4M without me still getting any alerts except the POS from the company earlier mentioned for 150k .

I was shocked !

How ?

How did @gtbank receive an application for 4M , disburse it all within 9hrs without confirmation? Didn't they know it was not consistent with me to apply for a loan like that ? I speak with my account manager before major transactions. How come this happened ?

I celebrate @gtbank for their innovation and trying to bridge a gap the fintechs are trying to bridge but they should not do it at the expense of the security of their customers. The risk evaluation of the quick credit product is poor and the analysis weak !

There are gaping holes in the process that are simple and easy to fix .
Another issue I had is this . How did the thieves get my pin ? How did they move 1.4M in 9hrs through *737# ? There is a limit for this service isn't there? @gtbank

Anyway I have written at the luth branch and I have been promised that they will revert . They have done the right thing in restricting the account and I expect some clarity from @gtbank as soon as possible. I need to know that my bank is thinking deeply about my money .

Now to the police . I was surprised by the handling of one corporal Dele Oyewale .He was so professional . This is the first rank and file professional @NigerianPolice officer I met ! I was amazed ! He patiently took my statement. Went with me to my house to view the scene .

Requested for certain details and was so systematic . I was so impressed and had to give him a shout out ! The @NigerianPolice have some good officers ! I salute them !

Lastly , everyone should please lock their sim . Find out how to do it and do it . Lock that sim so no one can use it to do anything. It is one great take away I got from this !

End !