Thread by @WaleMicaiah

HAVE YOU LOST YOUR PHONE OR HAS YOUR PHONE BEEN MISSING?

May you not be a victim but these are the steps you can take to prevent collateral damage if you lose your phone.

A #Thread

Cc @yinkanubi

#Beware #BeAware

When people lose their phones, usually they are loss of things like:

The lost phone
The Contacts
The Messages
The Apps
The Images & Videos
...and may be ease of use of their day to day applications/utilities as they have been well accustomed to the workings.

Usually, there are steps that you can take to prevent total loss when situation like this happens.

You can:
Insure your phone on theft.

Install some security solutions that can remotely wipe your data.

Get apps that can track the phone wherever it is & with who.

Some phones are that intelligent that they can do remote snap and share the picture of the user

Some automatically sends SMS to you when powered

I mean there is a lot you can do towards your phone recovery and preventing misuse of your confidential data.

The ultimate is, you can backup your Contacts, Audio, Video and Messages.

You should do this as often as possible and even allow the Phone do this automatically.

You can never be wrong with BACKUP - it saves and you never can tell when.

So, you probably will only lose the phone but still have your Contacts and other important things salvaged to some extent.

But there's still one more thing that may be more critical and it's your MONEY.

Phone loss can lead to financial loss. It has happened & still happening.

Today, we are in the era of accessibility, convenience, realtime and online. If you can be in your house or on the road and access your money....fraudsters can be anywhere too and access anything.

Therefore, you must protect your mobile phone like egg and report when missing.

I have heard & seen people say: I LOST MY PHONE & ON RECOVERY I DISCOVERED ALL MY MONEY IS GONE.

Phone got missing & money got missing - that's double wahala.

Here is how things like this probably happen....Your Phone in the wrong hand connects to your Bank & your money is gone

One easy means of accessing your money is USSD. You can recharge your line and others.

You can transfer money to self and others....same thing fraudsters can do.

Banks have instructions to get enrolled for USSD, some of you don't know but fraudsters know and are not resting.

The CBN regulates the use of USSD for financial transaction and provides protection for all players in the ecosystem

The guideline is there to help you stay safe....don't be a stranger to it, look for it and other regulations to know your role and stay safe.

With USSD what are your responsibilities:

You can:
+ opt in
+ opt out
+ transfer up to 20,000 per time
+ transfer up to 100,000 per day
+ transfer above 20,000 but with OTP
+ report Issues

You should be notified for every transaction.

Keep your card details & Phone safe.

You must use PIN for transaction as first level authenticator.

If you desire to go beyond these regulatory limits, you MUST execute documented indemnities with your Bank.

That is, there is room to transfer above 20,000 per time and above 100,000 per day.

As a Customer, DO YOU KNOW USSD ENROLMENT PROCESS OF YOUR BANK?

You need to find out and be sure what it requires to register for USSD. You don't need to use it but know it.

Check your Bank's website, the process should be there.

Know what it takes and stay safe.

I have heard people say I didn't register for USSD....but my money is missing. I suggest you find out how customers enrol for your Bank.

Can a fraudster pick your phone and act as you to opt you in for USSD service?

Find out what it entails to register for USSD with your Bank.

USSD is safe.

Criminals have only taken advantage of the lack of knowledge of Users to defraud unsuspecting customers.

Guard your phone, even with close friends and family.

When it is missing RUN FAST to your Telco and call your Bank to block the sim and your account.

/End.