Good day, everyone. I lost my brother's Polaris bank ATM Card last month. He didn't bother to go and block it in the bank, and went for his military service in Borno state.

He came back this month and this afternoon, he received debit alerts on his phone, as a result of the lost ATM card. When I came home this evening and he showed me the alerts, I discovered that prior to the debit alert, he had received message requesting for OTP five times. I was dumbfounded and till now I can't grasp how it happened.

Does it mean someone's money can be wiped off without OTP?

What happens to bank security? Because if someone doesn't send OTP, isn't the person safe.

Is there anyway the funds can be retrieved.
Please, help a brother. My family is pained

His email address, remember otp goes to the email address too

To be a lil safe in this naija
Block your ATM and don't collect another one
If you know you want to withdraw
Transfer to POS guys
Or get another acct with ATM which you'll Only transfer to when you want to withdraw

About OTP
There's been series of issues concerning money disappearing with or without OTP and are usually online payment so block your ATM and be safe

it's not all online payment platforms that require OTP. Infact, most don't especially international and some local merchants. All they require is your card no, expiry date and 3 digit security code at the back. it's only the popular ones like the local Quickteller, Remita and a few others that require OTP.

snoopy:
it's not all online payment platforms that require OTP. Infact, most don't especially international and some local merchants. All they require is your card no, expiry date and 3 digit security code at the back. it's only the popular ones like the local Quickteller, Remita and a few others that require OTP.

This is serious , but then he received it 5times. What could have gone wrong?

slimjohn2k5:
His email address, remember otp goes to the email address too

Hmm... This is another angle. I will ask him if he used his email address when filling out the form.
But is there a way the money can be retrieved?

Idrisab:
To be a lil safe in this naija
Block your ATM and don't collect another one
If you know you want to withdraw
Transfer to POS guys
Or get another acct with ATM which you'll Only transfer to when you want to withdraw

About OTP
There's been series of issues concerning money disappearing with or without OTP and are usually online payment so block your ATM and be safe

According to him, the card is a VISA card, does it mean VISA card can be easily compromised? Because I know that MasterCard have a strong security.

Desammyst:

Hmm... This is another angle. I will ask him if he used his email address when filling out the form.
But is there a way the money can be retrieved?

Money cannot be retrieved unless traced to the recipient. Lonnnnngggggg thing

Ask him to sign out of all devices in his email address

I'm glad I use union bank. Shit has more than 4fa auth. You need to add a website to your list of authorized websites for online purchases before that card can be used on the website.
The only good thing about buhari though.

I'm sorry about your brother, I think he should be careful next time. And, when you lose your sim or your debit card, you should try and block the money transfer channels or retrieve them as soon as possible so you won't fall bait to these scammers.

Bvn and ATM scammers should be castrated.

Person go serve his fatherland, all the standing in the sun, dodging pantami boys bullets, standing guard overnight, not knowing if an sniper would take their head off in an instant, beating and oppressing innocent civilians, only to have your money wiped from your account.

Tragic, just tragic.

This is scary

You lost your brother card since last month and he didn't block the card.

your brothers money is now history.

I remember my uncle who is a DPO. They wiped out his 1.2m. He was crying like a baby.

Bank couldn't do shii

Not sorry to say but your brother is unserious.
He lost his ATM card, didn't bother going to the bank to block it, he also didn't think it's important to call the bank to block the card.

I won't be surprised if you lot begin pushing the blame on the bank or crying in the bank asking them to reverse the lost money for you.

Who

Not cool

Noted

@OP sorry for your loss, to answer your question.

Does it mean someone's money can be wiped off without OTP? - Your money can't be wiped off without OTP it's either the thief's found a way to get the otp by rerouting the destination of the otp message or someone gained access to your brothers phone and copied the otp when it was sent. (Apparently some sites don't require OTP, point noted)

What happens to bank security? Because if someone doesn't send OTP, isn't the person safe. - You can't blame the bank. you guys were meant to block the card immediately. infact a call to customer care line would have done that.

Is there anyway the funds can be retrieved.
Please, help a brother. - Yes but it will require patience and you will have to be comfortable with the idea that the money is forever gone.

once again sowwie!!!

for people who like history check this out - https://www.nairaland.com/6940016/these-unexplored-historical-photos-remarkable

[center]op, if your brother is a yahoo yahoo sfan, then the money will be gone forever but if he is not a supporter of yahoo, the perpetrator will be caught and his money will be refunded.[/center]

I REMEMBER TRYING TO PAY MY ADMISSION FEE TO A COLLEGE IN CANADA, IMMEDIATELY I FILLED MY DETAILS, I RECEIVED AN ALERT. NO OTP REQUEST OR ANY MEANS TO CONFIRM IF I WAS THE ONE WHO AUTHORIZED THE TRANSACTION.

NA THAT DAY I GET SENSE.

Sorry about your situation

More like an insider job.

Not accusing any of your family members though... But card withdrawal will require at least 1 form of authentication (either OTP, PIN or any secure code)

Nigerian banks as whole have less security, talk more of common Polaris. OYO

Damnnn niggar

Am thinking maybe the otp generated was a hard token.....instead of soft token....even as at that they still need your brother to call them the hard token first

It looks like a foreign/internataional online transaction

slimjohn2k5:
His email address, remember otp goes to the email address too

Otp does not go to email address

motionarena:
some do my GT goes to both phone and email

chubarubah:

You can as well receive otp through your email address

Maybe you guys are right...but I can bet my balls that zenith bank don't send otp through email

slimjohn2k5:
His email address, remember otp goes to the email address too

No. Most banks do send otp to emails anymore.

@poster, how much was stolen from your brother Polaris Bank Account

slimjohn2k5:
His email address, remember otp goes to the email address too

This doesn't make sense. He said he lost ATM card only, not ATM card with phone or email login details.

Ah when we all praise fraudsters and serial killers and go ahead to badge them as smarties or Yahoo boys, we forget that we are all susceptible to the venom of this vice.

Stay safe.

Wetin don loss don loss

Desammyst:

According to him, the card is a VISA card, does it mean VISA card can be easily compromised? Because I know that MasterCard have a strong security.

Yeah visa nah nonsense

So anyone can easily lay hands on another


person's ATM and withdraw without knowing the pin?







...

Desammyst:

According to him, the card is a VISA card, does it mean VISA card can be easily compromised? Because I know that MasterCard have a strong security.

visa and master security is the same .. depends on where I want to use it

The safest thing to do next time is to block the stolen card completely. It is both reckless and unwise not to do so. For instance there are actually a lot of sites where you can shop with your card successfully without token. Let's take these little safety measures serious.