In Nigeria, POS Agents are the alternative means by which people withdraw money when bank is not in operation or when there is too much stress getting small amount of money and this has really helped a lot of people but do you also know that among those POS Agents, there are fraudster among them?

Those people can steal your credit card information and sell to other internet fraudster also called yahoo yahoo boys or they can choose to use it for themselves.

Today, i will show you how this Fraudster that called themselves POS Agent can wipe your money from our bank account just using your ATM card and they don't need any OTP from you to do this.

Below are some of the methods they adapt to carry out their fraudulent act.

When you enter any POS agent that is a fraudster, he will complain of network issues on his POS machine.

They will then tell you that for the transaction to be successful, they will use their phone to perform the transaction using online wallet.

They will then collect your card and input all your card details, this includes your card cvv, card serial number, card name and expiry date.

When the transaction is successful, he or she will then pay you your money because the money has entered his wallet and he will return your card back to you.

Your first transaction requires OTP from your bank to authorize the transaction.But when you continue making use of that POS and you become a customer to the agent, he will continue using the app to withdraw your money for you.

After several withdrawal on you card from the app, the app now trust your card and will recognize it and it will authorize any transaction without sending any OTP next time you want to perform a transaction.

This is when he will start withdrawing small amount of money from your account, this sum of money can be as little as one hundred Naira and you will think maybe it is from bank that are performing this maybe for some charges.

This is the more reason why you will see some debit in your account and you will wonder what you have done or what charge it is all about.

Now take this scenario for instance, if he withdraw hundred Naira form 20 people account daily, that is two thousand Naira going into his online Walllet daily.Caution:

Don't allow any Agent to withdraw money from your account using any app on their phone, if they don't have network you can come back or go to the bank and withdraw your money to safeguard your account and your money.