This document helps identify common POS scams, protective measures, and how to report fraudulent activities. It aims to enhance the security and trustworthiness of POS transactions.
Description Fraudsters distract customers during a transaction and swap their cards with similar-looking ones. The real card is then used to withdraw money from the victim’s account.
Example A customer reports receiving a different card after a transaction, leading to unauthorized withdrawals.
Description Some fraudulent customers deposit counterfeit money during cash transactions with POS agents or merchants.
Example A POS agent discovers that the cash received from a customer is fake when attempting to deposit it in the bank.
Description Customers dispute legitimate transactions to reverse charges and obtain a refund, despite having received the goods or services.
Example A merchant processes a sale/successful withdrawal(for agents), but later the customer disputes the charge claiming non-receipt, resulting in a chargeback.
Description Fraudulent agents or merchants set up temporary POS services in busy areas and disappear after conducting transactions.
Example An operator in a market issues fake receipts and is untraceable after the transaction.
Description Customers use fraudulent bank transfers or hacked accounts to make transactions, leaving POS agents or merchants at a loss.
Example An agent discovers that a customer’s transfer was fraudulent after disbursing the cash.
Ensure customers keep their cards visible during transactions. Double-check that they receive their own card back.
Keep an eye on transaction patterns and promptly report any anomalies.
Use alerts and notifications for unusual activities on your POS terminal.
Advise customers to cover the keypad with their hand while entering their PIN to prevent onlookers from seeing it.
Inform customers about common scams and recommend using familiar and reputable POS agents or merchants. Encourage them to report any suspicious activity immediately.
Ensure POS terminals are regularly updated to the latest version to prevent malware and firmware hacking.
Follow these simple steps
Immediately report any suspicious transactions to the Build Microfinance Bank via our hotline or in person.
File a report with law enforcement and the Economic and Financial Crimes Commission (EFCC). Provide transaction receipts and correspondence with the fraudster.
Advise customers to block compromised cards/accounts immediately
