EFCC, CBN to Tackle Rising Illegal Funds Withdrawal

Illegal Funds Withdrawal

By Adedapo Adesanya

The Economic and Financial Crimes Commission (EFCC), Kaduna Zonal Office has agreed to liaise with the Kaduna Branch of the Central Bank of Nigeria (CBN) to ensure that public funds are safe.

In a statement by Mr Wilson Uwujaren, Head, Media and Publicity, EFCC, the Head, EFCC Kaduna Zonal office, Mr Sanusi Abdullahi, was quoted as saying this when he visited the Kaduna branch of the apex bank.

He lamented the increasing incidence of loss of money by members of the public to fraudsters through Point Of Sale (POS) and ATMs platforms.

Mr 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, adding that the petitioners are requesting the assistance of the agency to help them recover their lost funds.

He called for strong collaboration between the EFCC and the CBN to monitor the new trends on financial policies as they affect financial institutions.

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

Mr 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 to anyone, adding that fraudsters are eager to take advantage of such windows to defraud unsuspecting victims.

Fraudsters gain access to funds of unsuspecting owners when they share their vital financial information like the Bank Verification Number (BVN), password and others. These internet thieves then use the harvested data to gain unauthorised access to the bank details to carry out the illegal withdrawal.

Sometimes, theses fraudsters get the needed information by pretending to be bank officials or offering assistance at the ATM points.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

more recommended stories

%d bloggers like this: