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Nairaland Forum / Nairaland / General / Business / Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC (46682 Views)
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Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by mrkingjerry(m): 8:26am On Nov 12, 2021 |
Kuda account have been used by these escrow cryptocurrency trades on telegram to dupe people. They tell you to send money to their kuda account, before they send you cryptocurrency. But they will not sent you any cryptocurrency, instead they banned you from the group. So if they are banning the accouns of those bastard fraudster, it is a welcome development. They should also be arrested. 1 Like |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Lovenorth: 8:26am On Nov 12, 2021 |
darthv:Are you one of them? Are terrorists not useless? |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by SonofLothbrok: 8:29am On Nov 12, 2021 |
Stankovic22: Did you read the previous article. Or you just typed with out reading. I bank with kuda myself and most time a message pops up warning customers not to use their accounts for cryptocurrency transactions. Kuda is at fault for tricking and handing their customer over to law enforcement agency to explain how he had over N800,000 in his kuda account when no crime or no laws was broken by its customer. 1 Like |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by AyeMoJuba: 8:29am On Nov 12, 2021 |
Okortor: So trading CRYPTO is not legit? 1 Like |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by seanwilliam(m): 8:32am On Nov 12, 2021 |
tonyson010:no one can flee with your money with p2p, u just need to report the vendor and upload payment prove . The crypto is reserved with the escrow . It’s safe. 2 Likes |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Olam09(m): 8:32am On Nov 12, 2021 |
JaySterling: Mr cancel culture.. you think say na America you dey abi? 1 Like |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by teeytimi: 8:33am On Nov 12, 2021 |
lkillbrokehoes:you guys should direct your anger to the right channel and stop acting like you don't know who is responsible for the down ward slide of the country |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by CyberWolf: 8:36am On Nov 12, 2021 |
IMAliyu:Yes I understand but not at least, they are OGs in the game and they know their way around, they don't just froze their customer account like that unless it's fraud related with a clear evidence. But normal p2p transactions without anything related to crypto in the description, I doubt they care.. All these new fintech companies are only acting out of panic/fear not to loose their license. |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Newboss(m): 8:36am On Nov 12, 2021 |
JaySterling: Deleted mine since |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Agadinaagwuofe: 8:41am On Nov 12, 2021 |
joey150: The truth is if you are a businessman or entity operating in a capitalist economy like Nigeria you have to learn to walk on a tight rope between the regulatory body and your clients and this is not about Nigeria this is how it operates all over the world, even in US and other parts of the world people break every rule ranging from tax laws, regulatory policies etc but to stay afloat you have to walk around these policies. ST (suspicious transaction) report being filed by banks has been in existence since time immemorial of banking operation but you hardly see big banks openly throwing customers under the wheel, what the KUDA should have done is filing ST report without involving in the arrest or prosecution allowing the law enforcements to do their work without tainting their reputation thereby mitigating reputational risk. They will experience a "run" and your money alone can't make them break even let alone make profits irrespective of how much you have with them. Seriously they erred from the business angle. I don't support fraudulent transactions but you have to learn to separate business from morality. 4 Likes 1 Share |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by datamillionaire: 8:43am On Nov 12, 2021 |
Okortor: |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by KaluwisxPRO: 8:48am On Nov 12, 2021 |
Lots of slaves on this trade who’re ready to lick ass just to soil the youths. Hate and hunger is a terrible disease. 1 Like |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by chloride6: 8:52am On Nov 12, 2021 |
AmazingELixir: What law does crypto trading violate? |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by henryobinna(m): 8:56am On Nov 12, 2021 |
Okortor:a simple question is crypto transactions fraudulent? Say someone sells their cryptocurrency holdings and get paid to their bank account, does that constitute to fraud, at least in your definition? 3 Likes 1 Share |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Lush100(m): 8:59am On Nov 12, 2021 |
Now here is a businessman talking. Bro, u will go into biz and succeed. Agadinaagwuofe: 1 Like |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Pimine: 9:02am On Nov 12, 2021 |
bot101:Aswearugaaad And why should I not do crypto, Mr Logic? Because your walking-dead president, his zombie cabinet, and his brain-dead cheerleaders say so? Get lost, nicca! 4 Likes 1 Share |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Obindigbo: 9:05am On Nov 12, 2021 |
Okortor:This kuda mfb, is it safe to save money there |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by IamDavid(m): 9:09am On Nov 12, 2021 |
bot101:Not the bank, someone else. There's a way a normal bank should handle the matter. The issue of unresponsive customer service comes in again. I can't go on jare... Go and use Kuda anything wey your eye see na you sabi |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by somehow: 9:11am On Nov 12, 2021 |
money121: If you verified your account as a personal account, you can transfer up to 5m in a day. If it's a verified company account, you can do up to 10m in a day. |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Nobody: 9:11am On Nov 12, 2021 |
Okortor:How does crypto transaction translate to fraud. Sometimes people speak English too much and it makes no meaning. 2 Likes 1 Share |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Nobody: 9:12am On Nov 12, 2021 |
Awesomeking:lol, you don’t get it. Kuda bank initially was an advocate to crypto, in fact they are the only Nigerian bank Binance added! “Kuda bank of the free” where do you think that branding came from? I got to know them because of P2P guys, everyone was using them. I started using them as my primary bank account. Moved all my money in millions oh to Kuda. A bank without a single office anywhere! Yet we took the risk, it’s not about the cheap transaction fees, I trade crypto and believe me it’s very lucrative and I can comfortably make 400k or more buying and selling crypto from my bedroom and this is just a side hustle. Now Kuda says don’t use us for crypto again, if crypto guys move how much more will they worth? 2 Likes |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by spearmintgarden(m): 9:12am On Nov 12, 2021 |
Okortor:Shutup!! |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by yemmywesey(m): 9:15am On Nov 12, 2021 |
That useless godloose emefiele is a mad man, you mismanaged the economy, you fly private jets to jamaica for a birthday bash, you employ political elites children to cbn secretly, you gave abokis farmers farming loans without collateral, you ban this you ban that that it kills the naira, has the naira risen now, any authority or orders the ISA funtua cabals gave you is what you do because you are their errand boy, you keep signing loan approval everytime with nothing to show for it. The crude oil income is being unaccounted for. And we Nigeria youths have moved on with our lives with different innovative ideas , you can't draw us back again, we must enjoy this country together. 1 Like 1 Share |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by CorperKola: 9:16am On Nov 12, 2021 |
In a bid to sound intelligent, a lot of you display foolishness. Using twitter is banned as part of government directives, does that make it illegal or a crime? Which law makes using twitter illegal or a crime? Same logic and questipns apply to cryptocurrencies. Thank you! In any case, all banks are regulated by the cbn, why is one particular bank displaying overzealousness ? Go and check cbn's recent release on fcmb's recent flagging of a certain age bracket's accounts. 1 Like |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by IamDavid(m): 9:17am On Nov 12, 2021 |
Lush100: God bless you bro! Most people don't understand how modern businesses works. They just believe anything efcc means the victim is a fraudster, while it's true some Nigerians engage in fraud, in business, even to the most legitimate person, stuffs may will come up and you'll need to explain and there's a way a reasonable bank should handle that. |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by darthv: 9:22am On Nov 12, 2021 |
Lovenorth:Lovenorth, who are terror financers are they not Islamic northerners in government.. Abeg they should leave crypto for us jare. They say crypto dey spoil economy,did Ghana,south Africa ban crypto? There economy spoil? Now these northerners can borrow billions to do solar for Senate. Am tayad of this country, it wasn't has bad as this during obj, yaradua and gej Anything that would make the youth not look for crumbs from them, they would ban. The almajari mentality |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Ernestforyou: 9:25am On Nov 12, 2021 |
JoeOdion: Telling us what we know is not an explanation but lame excuse.Why do they invite EFCC to arrest their customer because of 800k?That question needs to be answered else your education needs to be questioned. 2 Likes 1 Share |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Nobody: 9:26am On Nov 12, 2021 |
JaySterling: Go and open your own bank then do not follow the law. |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Lovenorth: 9:28am On Nov 12, 2021 |
darthv:Leave the country if you are tired, but the issue here is that no one would be allowed to infest our country |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by Agadinaagwuofe: 9:29am On Nov 12, 2021 |
Lush100: Thanks man The rules and policies surrounding banking transactions are enormous and if it were to apply to later there won't be frauds but that will be at the detriments of banking business because they are in business to make money. The policies of KYC and KYCB has been in existence since banking started operating but sometimes there are loopholes. If you ever know the policies surrounding "western union transactions" back in the days you won't believe people can use such medium to receive fraud proceeds. Banks are business entities and not crime investigators like police and that is where the KUDA messed up. If the guy violates any laid down policy they should 'behind the scene" collaborate with agencies not these unwholesome, grandstanding and ineffectual press release that will only help to kill their business. If they care so much about regulations they should stop banking and dive into religious affair in that they will have less or nothing to worry about violation of regulations. 2 Likes 1 Share |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by dan56: 9:31am On Nov 12, 2021 |
Awesomeking: And when your next they lure to get locked up by EFCC don’t open a thread here on nairaland. Before you preach to me about been innocent; note that you can’t enter efcc’s office and come out un_robbed of your account balance. Ask those that have had a case with them. Innocent or guilty if they were robbed or not. This is Nigeria. |
Re: Kuda Bank Releases Statement On Accusations Of Reporting Clients To EFCC by BruncleZuma: 9:31am On Nov 12, 2021 |
Okortor: So Cryptocurrency trading is fraud? |
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