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Once You Lose your Phone, You Lose All Your Money In Your Bank Account. - Phones (8) - Nairaland

Nairaland Forum / Science/Technology / Phones / Once You Lose your Phone, You Lose All Your Money In Your Bank Account. (50109 Views)

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Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by casualobserver: 5:46pm On Jan 19
CatchMeIfUCanMO:

If you can't explain what you mean by your statement, then you are igno rant.

You said banks are not weak but customers are...

He asked you what do you mean by this statement since many customers don't share their infos whatsoever but they still fall victims.

Stop forming enlightened when you clearly not enlightened, your inability to pass a clear message shows you are not...

dont be daft. read the post i responded to and tell me what he was asking or saying, if it makes any sense to you?

next time dont put butt into a conversation that does not include you.

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Greenfusion: 5:46pm On Jan 19
Truvelisback:
Who told you that? A guy borrowed a phone from someone in pretense that he wanted to check livescore. This guy wiped out his bank A/c. Note: This guy didn't know his pin.
How was that done?
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by tochez24(m): 5:47pm On Jan 19
reucom:



But is it possible though to use these phone app for transactions without having the bank card?

Any app or bank app you install in your phone will first of all ask you for your atm card details plus your pin before operation bro, to ensure that you're the owner of the account.

So how will you provide them if you don't have an atm to that account

🙄🙄

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by IamAtAnger: 5:51pm On Jan 19
If you die and nobody sabi how to get access to ur money... you have worked in vain and lived in vain

2 Likes

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by davis51(m): 5:51pm On Jan 19
But u can password ur sim so u are save..bt only if the phone goes off.

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by CatchMeIfUCanMO: 5:58pm On Jan 19
casualobserver:


dont be daft. read the post i responded to and tell me what he was asking or saying, if it makes any sense to you?

next time dont put butt into a conversation that does not include you.

Keep kwayet, he asked you what you mean by "banks are not weak but customers are ignorant" statement.

Stop forming don on issues that can be compromised from within(inside the banking system via corrupt staff).

I will put mouth because this is a public forum and you are not even the creator of the thread but trying to bully him on issues you're obviously ign orant of sef.
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by casualobserver: 6:01pm On Jan 19
CatchMeIfUCanMO:

Keep kwayet, he asked you what you mean by "banks are not weak but customers are ignorant" statement.

Stop forming don on issues that can be compromised from within(inside the banking system via corrupt staff).

like i said you are daft

Truvelisback:
How? When theirs pins aren't shared?

you are clearly as daft and as ignorant as him. you lost your phone, the bank did not know you lost your phone, if your account is hacked whien you lost your phone then clearly someone breached your phone. If you protected your phone and your sim, they cant access your phone and your sim if you lose it. Hence the ignorance of customers who blame banks but left their phones open. if your account was hacked while your phone was in your possesion you can blame the bank...possibly. but if your acciount was hacked when you lost your phone then a child knows that access came via the phone because you were too ignorant, uneducated to do the needful.

2 Likes

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by BigDawsNet: 6:02pm On Jan 19
maasoap:


I'm saying your suggestion is only possible when you don't use your main sim card for your banks details. I use my main sim card for all my bank details down to Opayy, Palmpayy and the rest and I can't afford to drop it at home when going out

It's safer when you have the sim on a small phone...

But anyway u are a big boy.. you can take care of ursf
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by CatchMeIfUCanMO: 6:06pm On Jan 19
casualobserver:


like i said you are daft



you are clearly as daft and as ignorant as him


I repeat keep kwayet.

Like I said earlier, if they had successfully gotten that ATM card for my account and created a pin for it, they would have done damage through it.

Now, I asked you did I share my pin?
Did I request for an ATM when I can't even remember using the ATM card linked to one of my accounts since I got it years ago?

His question is tactical that is why you can't answer it.

Let me reconstruct his question....
Knowing that customers didn't share their pins with anyone, how were those criminals able to breakthrough the security of the account?

From his question, the focus will be someone within the banking system.


Maybe you have not heard of bank workers who were arrested or wanted for withdrawing money from customers accounts fraudulently.

You are a big fo 0l o, well you are only saying things based on your knowledge level.
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Vipro(m): 6:11pm On Jan 19
sammirano:


You need to get your PUK no from your network provider, then you will use the no to set your PIN on you SIM Settings.
What is PUK?
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by casualobserver: 6:12pm On Jan 19
CatchMeIfUCanMO:


I repeat keep kwayet.

Like I said earlier, if they had successfully gotten that ATM card for my account and created a pin for it, they would have done damage through it.

Now, I asked you did I share my pin?
Did I request for an ATM when I can't even remember using the ATM card linked to one of my accounts since I got it years ago?

His question is tactical that is why you can't answer it.

Let me reconstruct his question....
Knowing that customers didn't share their pins with anyone, how were those criminals able to breakthrough the security of the account?

From his question, the focus will be someone within the banking system.

If your phone is password protected and your sim is password protected they cannot get to your account. If your sim is not password protected they can hack your account. There was big publicity about this a fewyears ago that you should put a password on your sim card because yahoo boys can hack your account through your sim. there was even a video trending by a yahoo boy that was caught showing how they do it.

Failure to do that is not the bank's fault, its your negligence or/and ignorance so long as any fraud originates from your phone or sim card, its not the bank's problem..it is your failure to secure your phone.

protect your phone with a password, protect your sim with a pin. Anyone who tells you he lost his phone and they stole moiney from his account and he had done both of these is almost certainly lying. having your bank details on your phone and not knowing you should do these things is ignorance...hence my statement. you have a duty of care to yourself, you dont keep your gate open and complain about armed robbers and blame your landlord.

https://www.nairaland.com/6436231/yahoo-boy-explains-how-he

hapi4eva:
[*DUE TO THE PROLIFERATION OF "SMART" SCAMMERS PROWLING SOCIAL MEDIA IT IS IMPERATIVE TO ONCE AGAIN ADVICE ALL TO PROTECT YOUR BANK ACCOUNT*

_IF YOU DO MOBILE BANKING from your phone, there is need to put a PIN on your SIM, otherwise your account can be wiped clean anytime you lose your phone_ _or your phone is stolen_ .

The process to do is very simple but if ignored can cost you all Your life savings.
For those who don't know about it yet, just follow this simple steps to protect hacking of Your bank account through SIM THEFT.
1. Go to SETTINGS in Your phone.
2. Go to SECURITY & LOCATION under SETTINGS
3. Go to SIM CARD LOCK.
4. Click on LOCK SIM CARD.
5. Enter Your mobile network default SIM CARD PIN.
*For MTN users it is "00000". *For AIRTEL users it is "1111".
*For 9mobile users it is "0000"
* For GLO users, it is "0000"
6. After entering the MOBILE NETWORK DEFAULT PIN, under it You will see " CHANGE SIM PIN", click on it to change to Your unique 4 digit pin,
7. Confirm Your unique 4 digit pin by entering it again & YOU ARE DONE �.
So anytime You "On" Your phone You will be prompted to enter Your SIM CARD PIN just as You will be prompted to enter Your phone lock PIN or Draw Your PATTERN each time You "START" (ON) Your phone.
With the ACTIVATION OF SIM LOCK on Your phone, Your money can never be withdrawn from Your bank account through your SIM because Your SIM will be useless in their hands since it is blocked and You will not be under tension to go and block or retrieve Your stolen SIM.
Please kindly share this information with Your loved ones because the rate of phone theft these days are alarming as they (phone thieves) are not just after the phone but SIM CARDS linked to Your bank account.

_Please let's be safe!!!_ author=jaybenugo post=99459136]A suspected local yahoo boy who was arrested by the police has revealed how he transfers money from people's bank account using just his victim's SIM and Bank Verification Number (BVN), IgbereTV reports.

Speaking in Yoruba, the suspect while being interrogated, said he uses the bank codes on any sim card that receives bank alerts to transfer money to another account which he has access to. He also mentioned that he takes loans from the banks of any sim card he lays his hands on

See video below.


https://www.youtube.com/watch?v=za3IZMaYEfo

4 Likes 1 Share

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Greenfusion: 6:14pm On Jan 19
The first step to security is knowing and accepting that no security is 100% perfect.

As long as IT is concerned, almost everything is possible, you can be partially safe if you are totally operating OFFLINE.

Passwords are very essential at all level, always use strong passwords, ensure you maintain security (password) at all level possible (SIM password, APP password, phone password, transaction password, 2Facctor and SETTINGS password such that an APP cannot be installed without password).

Also note that everybody is a potential direct or indirect threat, so never give out vital information that can compromise your security.

My first steps if phone is stolen:
1. Calling serve provider to block line to prevent 2FA authorization
2. Contact your bank to block account ( ENSURE you put a written or form request and have a copy in case you meet a fraudulent bank staff, also note the time you made the request).
3. Move your funds to a secure account (account with no internet based operation enabled).

In conclusion, have in mind that you can never be secure.

2 Likes

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by franugo(m): 6:14pm On Jan 19
tochez24:



first of all.... Nobody on earth can steal your money through bank app or ussd without your password, unless they got it from you in one way or the other without your consent⚠️

Secondly, to strengthen your protection... You can simply lock your phone and alert sim card. That way, when you loose your phone nobody can break into your phone, talkless of performing any transaction...absolutely nobody♂️

I don't know how people think.....mobile apps usually have 2 factor authentication in the sense that you need password to login and pin to authorize transactions. How one human being can just up and make a stupid conclusion like this and still get likes and accolades is beyond me.
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Tapout(m): 6:15pm On Jan 19
Truvelisback:
Good day, fellas. The Nigerian Banking System is very weak. Once you lose your phone, you lose all your money in your Bank a/c. This is very bad.

Oga lock your sim card.
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by jossytech(m): 6:22pm On Jan 19
Lol app that use fingerprint with 6 digit secure code , you can't move 1 kobo out , to even enter phone you have to pass thru my 2 layer security, first eyes and pin, , loosing phone many times I no even border I just buy another n move on,
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by CatchMeIfUCanMO: 6:28pm On Jan 19
casualobserver:


If your phone is password protected and your sim is password protected they cannot get to your account. If your sim is not password protected they can hack your account. There was big publicity about this a fewyears ago that you should put a password on your sim card because yahoo boys can hack your account through your sim. there was even a video trending by a yahoo boy that was caught showing how they do it.

Failure to do that is not the bank's fault, its your negligence or/and ignorance

protect your phone with a password, protect your sim with a pin. Anyone who tells you he lost his phone and they stole moiney from his account and he had done both of these is almost certainly lying. having your bank details on your phone and not knowing you should do these things is ignorance...hence my statement. you have a duty of care to yourself, you dont keep your gate open and complain about armed robbers and blame your landlord.

https://www.nairaland.com/6436231/yahoo-boy-explains-how-he

I no dey follow you argue that one bro, my point is that some of these acts have insider hands in it.
Even when you do all these things, some staff are evil, na why e good to dey monitor or audit your accounts frequently.

And I am asking you what about the case I explained earlier about bank debiting an account for an ATM card the owner did not request for?

What is the purpose of requesting for the ATM card?

Don't you think it is fraud related because I don't know why they would do such.

Back to your statement, that if you password your sim, mobile app, phone etc., they won't be able to blah blah blah.

I have password on all these things, some are even double passwords, I don't use ussd transactions on that account, I don't have any ATM card linked to it, but still I got that message

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by casualobserver: 6:31pm On Jan 19
CatchMeIfUCanMO:


And I am asking you what about the case I explained earlier about bank debiting an account for an ATM card the owner did not request for?

What is the purpose of requesting for the ATM card?

Don't you think it is fraud related because I don't know why they would do such.

Back to your statement, that if you password your sim, mobile app, phone etc., they won't be able to blah blah blah.

I have password on all these things, some are even double passwords, I don't use ussd transactions on that account, I don't have any ATM card linked to it, but still I got that message

I didnt read your case, i am not interested in your case. i responded to a specific case that of the the OP and i responded to the OP not you until you butt into a conversation that was not with or about you.

Right now you need to go jump off a cliff!! i am done with you!

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by pongwa(m): 6:34pm On Jan 19
Truvelisback:
Good day, fellas. The Nigerian Banking System is very weak. Once you lose your phone, you lose all your money in your Bank a/c. This is very bad.
not true......just activate sim code lock. That way your sim is safe when lost
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by CatchMeIfUCanMO: 6:34pm On Jan 19
casualobserver:


I didnt read your case, i am not interested in your case. i responded to a specific case that of the the OP and i responded to the OP not you until you butt into a conversation that was not with or about you.

Right now you need to go jump off a cliff!! i am done with you!


Keep running away from his question, his question is in line with what I'm saying.

Gtfooh please!
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Basiliun(m): 6:35pm On Jan 19
Kobicove:
I have partial solution to this...all my bank accounts are tied to just 1 SIM card and that SIM card is in a cheap torchlight phone which I keep at home permanently grin

An added security measure is that my SIM card is locked with a PIN code



A good solution dear
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Mandate1: 6:37pm On Jan 19
1Sharon:
How? I went to Nigeria last month and since I don't have a Nigerian number, I used my cousin's number to register.

Does it mean she has access to my funds?
yes pls
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by tochez24(m): 6:41pm On Jan 19
franugo:


I don't know how people think.....mobile apps usually have 2 factor authentication in the sense that you need password to login and pin to authorize transactions. How one human being can just up and make a stupid conclusion like this and still get likes and accolades is beyond me.

Please don't mention me again if you can't read properly... I was trying to explain to someone that it's not possible to steal from a person's account without the password and pin.

But you jumped on my comment because you're already pained and jealous from birth, that's why you think i get money from people liking my comments⚠️

Take a chill pill bro!!!
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Truvelisback(m): 6:47pm On Jan 19
pongwa:
not true......just activate sim code lock. That way your sim is safe when lost
Omo, just blocked my own sim in the name of security reasons. Ah! mo gbe 🙆
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Nasri100(m): 6:48pm On Jan 19
tochez24:


I tried uploading the pics but it couldn't bro⚠️
My card details:
5399 4122 9377 1856
10/27 cv 941
Zenith Bank

Please kindly wipe my account, you deserve it sir🙏🏽

You tried uploading the picture but couldn’t grin
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Frankaka8(m): 6:48pm On Jan 19
SIM LOCK is the key 🔑 to stop all nonsense!!! No cap!!!!
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Truvelisback(m): 6:50pm On Jan 19
jossytech:
Lol app that use fingerprint with 6 digit secure code , you can't move 1 kobo out , to even enter phone you have to pass thru my 2 layer security, first eyes and pin, , loosing phone many times I no even border I just buy another n move on,
What about USSD code?
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Tonytonex(m): 7:04pm On Jan 19
Angelfrost:


180
Thanks
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by JayPeeOham: 7:06pm On Jan 19
tochez24:



I'm so sorry to hear about your wife's lost sir🙏🏽

It really saddens my heart when i see or hear people loose huge amount of money to theives and online scammers!!!!

Well, concerning your case... It really depends on where the money was transferred to, if it was transferred to a Nigerian bank account which i seriously doubt, then it can be traceable and subsequently recovered⚠️

But most of these scammers are smarter than that, they normally have foreign accounts they transfer to, and they use it to buy crypto or shop goods online... Which will definitely make it untraceable as you know we are not that yet technologically advanced as a country to handle any transactions outside Nigeria.

It can only take the FBI or a very advanced country's security agency to trace such transactions if it was used to purchase goods online, but cryptocurrencies and wallets are untraceable⚠️

I think your wife's bank should have told you where and how the money was moved, if it was moved to a Nigerian account then you still have a chance but if it's not then the money is gone✖️✖️

Once an ATM is linked to any account number, it's possible to withdraw money from it at any given time especially when the scammers have your passwords and alert sim... So it's very possible sir.

There are accounts you shouldn't have an ATM on or better still be very cautious with if you have an ATM on them.

Okay, thanks a lot for your detailed response.

1. She was not using an ATM card for the fixed deposit account. It was strictly for savings, as a matter of fact no money she could not even so any transactions on the account unless she is physically present at the bank.

2. Her account officer was the person who told her that the money was no longer in her account.

3. From your response, I guess we might still have a chance. I honestly don't mind taking it. The problem now is where do we start from and how?
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Tonytonex(m): 7:07pm On Jan 19
femi4:
You don't have to be sorry

Go to Settings on your phone.

Scroll down and select Security & Privacy.

Select More security settings near the bottom of the page.

Tap SIM card lock.

Flip on the Lock SIM card toggle.

If you're prompted to enter the default PIN, do so.
Ok thanks
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by ceejayluv(m): 7:10pm On Jan 19
seborrhic:

Big,fat lie.
Stop spreading lies.
Not talking from say,so,but have lost my phone more than twice and not a single dime was lost before I retrieved the SIM.
One left for a week,the other happened on a Friday,went and did sim swap Tuesday the next week because the Monday was a holiday.
Both occasions didn't even block the lines.
So your post is not true at all.
It's ONLY if your pin is compromised that your money MAYBE gone.
It's possible that whoever stole or found your phones didn't attempt to access your account.

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by chiboycue: 7:12pm On Jan 19
franugo:


I don't know how people think.....mobile apps usually have 2 factor authentication in the sense that you need password to login and pin to authorize transactions. How one human being can just up and make a stupid conclusion like this and still get likes and accolades is beyond me.


Even with 2 factor authentication and pin authorization , some naija phone thieves have ways of wiping money out of a victim's account that is linked to a bvn. This can occur when the sim card of the victim is removed from the stolen phone and inserted into another phone. But once the sim is locked using a pin, the phone thieve don enter one chance
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by one4GOD(f): 7:13pm On Jan 19
Kobicove:
I have partial solution to this...all my bank accounts are tied to just 1 SIM card and that SIM card is in a cheap torchlight phone which I keep at home permanently grin

An added security measure is that my SIM card is locked with a PIN code
pls how can one lock his sim?

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