Public Awareness Notice: BVN And Fraudsters

Bank verification number (BVN), I guess most people have done theirs by now. I kept hoping all the while that the BVN scheme wouldn't create more problems than it would solve, and unfortunately, it appears that scammers and fraudsters are already taking advantage of it to dupe people. With that one number linked to all the accounts you own in different banks, imagine how much damage can be done! Mr Adewole didn't have time to imagine before he got duped. Read his account below and be guided.

Please read this carefully, it may save you a few hundred, or a few thousand, or may be a few million bucks. It's a personal experience, a true event that happened this afternoon.

I am Sunday Adewole, I just fell victim of fraudsters a few hours ago. I am an account holder with StanbicIBTC bank, I am trying to put fund together to pay for my daughter's tuition fee in CU in which case the institution already resumed last week. 

Yesterday afternoon, I got a call from somebody purportedly from StanbicIBTC who said "Am I speaking with Dr. Adewole" (called out my other names) to which I answered in the affirmative. 

He said he called in respect of my BVN which I was observed not to have done, I replied that I already had it done with Skye bank and he said the bank will send me a link so that my account with Stanbic will be linked with the BVN. 

True to our conversation, I receive a message from StanbicIBTC in which an OTP (One time password) was sent to my phone. A few minutes later, he called to ask if I got the the SMS, I told him yes but I can't do anything about it cos I was driving. 

He said no problem I should call out the numbers which I did and he thanked me for my cooperation in a customer service manner. I heard nothing since then till this afternoon at precisely 13:00 hrs when I received a SMS from StanbicIBTC informing me of a debit transaction which cleared my account to the lowest thousand, i.e. I was left with a paltry N685 (six hundred and eighty five Naira). 

I called my account officer who confirmed to me that I have fallen victim of fraudsters and he checked up on my account and saw that the recipient account is in First Bank. My puzzle is how did they get my account details? 

How were they able to generate an OTP to my phone. I am waiting to see what my bank would do on it. In the mean time, please be aware of what the 419 people can do. I'll keep you posted on any new development. Please beware many more fraudsters are out there to fleece you of your hard earned money o

Cover image via Identitytheftprotection