EFCC, CBN partner to tackle ATM, PoS fraud

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EFCC and CBN have partnered to curb ATM and POS fraud in Nigeria
EFCC and CBN have partnered to curb ATM and POS fraud in Nigeria

The Economic and Financial Crimes Commission, EFCC, Kaduna Zonal Office, on Tuesday agreed to work together with the Kaduna Branch of the Central Bank of Nigeria, CBN, to ensure that public funds are kept safe.

The Head, EFCC Kaduna Zonal office, Sanusi Abdullahi, who made the declaration while on a courtesy visit to the CBN, Kaduna branch, lamented the increasing incidence of lose of money by members of the public to illegal withdrawals by fraudsters through Point Of Sale (POS), and ATMs platforms.

Abdullahi observed that the Commission has in the last few days, witnessed several petitions from the public concerning illegal withdrawals of their hard earned monies by fraudsters, using the POS and ATM, mechanism, adding that the petitioners are requesting the assistance of the Commission, to help them recover their lost funds.

He called for strong collaboration between the Commission and the CBN to monitor new trends on financial policies as it affects financial institutions.

Responding, the branch Controller, CBN, Kaduna branch, Ahmed M. Wali, reiterated the need for robust partnership with the EFCC; adding that the collaboration which is longstanding, has yielded positive results.

Wali added that the CBN would continue to formulate policies that would ensure that public funds are kept safe .

He also advised the public not to disclose their ATM or banking details with anyone adding that fraudsters are eager to take advantage of such windows to defraud unsuspecting victims.