WHAT TO DO WHEN PHONE IS STOLEN??
We all kept our distance thinking she has been infected with covid 19, not too long her friend turned back and rushed towards her, picked her up and screamed “nor kill yourself cause of money oh..” So I enquired what had happened to her? It was at that moment some bank staffs told us that her mobile phone was stolen the previous day and they have found a way to clear up her bank balance, I mean ALL OF IT! ……
You know any spike in technology and sophistication comes with its own tethering problem, the new tech will solve an old problem but in turn will create 10 loop holes for bigger problems… The advent of bank verification number(BVN), USSD banking, bank mobile apps and online banking has really made our lives more sophisticated and easy to move funds from our convenience without physically visiting the bank… Which is so good, but also makes it easier for this local fraudsters to clear up you account in a matter of minutes if peradventure phone or an ATM card is stollen. So I have decided to make this post up to highlight several ways you can reduce the risk of loosing your money if phone is misplaced or stolen.
Nobody plans it or expects it so its better to be prepared before time, so here are the tips…..
1. Don’t put your ATM card under your phone cover casing – aside for the fact that its easier to carry it that way so you won’t have it misplaced, its also risky cause you might bump into a robbery scene where they might be collected at gun point. You just gave them two smart access. So try as much as possible not to always go with the two.
2. Secure your sensitive app with different passwords – this is very important to lock out midrange criminals from gaining access, I will suggest that you secure individual apps with the password provision of your phone; and not the password provided by a third party app. This is important cause the password provided by phone can’t be bypassed unless its clearly known, but most third party app once the app is deleted from the phone the password leaves the phone.
Securing with this is not 100% guaranteed cause they might cases where people have been robbed and the robber tells them to open bank app and initiate transfer while they are there with them…
3. Take advantage of all security features provided by bank apps – some bank apps uses 2 or even 3 steps verification before you enter please take use them. Don’t get bored when you try to use the app, its for your security.
4. Get your bank customers care line and USSD to block account – most people neglect this, but its good for your to get those details and write them down somewhere.
5. Learn how block your sim from anywhere with any other available phone – there might be cases when phone is stolen over the weekend or during holidays, the mistake people make is to wait till working day to initiate a block, this is very risky… Most network providers have codes to block your line, you can simply just call their customers care line to do so.
6. Avoid using your registered sim on your main phone – I know this is hard to do, but its a bit safer let’s say 080********* is your registered sim and its the one linked to your BVN don’t put that sim on the phone in which you carry out all your transaction and having all apps. If they have the registered sim they can dial a short code, they can get your BVN.
7. Cap your daily limit for single transfer – this is an amount that would want to leave your account, the bank won’t finalise the transaction until they have verified from you. I will suggest 100,000naira cap per transfer
To conclude these fraudsters get sophisticated daily, don’t give out relevant information over the phone, especially when its coming from your bank. Learn to keep your bank transaction private the way you keep your private parts private, trust no one.. When money is involved nobody is to be trusted.
Please share your experiences with us on the comment section