Exposing Bank Card Fraudsters And Their Strategy 1

Exposing Bank Card Fraudsters And Their Strategy


Exposing Bank Card Fraudsters And Their Strategy

Online frauds go on everyday. I have previously discussed one way of tackling online banking frauds (check it out here).

In this article, I shall be exposing different methods fraudsters use to commit online fraud involving the use of Bank customers’credit or debit card.

Millions of people all over the world make use of cards on different websites, ATM (except for ATM cardless withdrawals), POS and other payment outlets everyday. These Bank cards include MasterCard, Verve card, Maestro card, Payoneer card and others. They  can also be credit or debit card. Online Fraudsters target card users everyday using different methods. They come up with new strategies of stealing credit and debit card details.

The Fraudsters scheme to steal your PIN or relevant Credit card details in order to perform illegal online transaction without the knowledge of the card owner.

Bank Card Fraudsters Strategies

These are some of the stargeties –

  • They call your mobile number claiming to represent your bank(Bank relationship officer). They will request for your Bank card details to enable them update your credit card information with the Bank.
  • You may receive a call from a fraudster claiming that while he was completing an online form, he mistakenly used your mobile number instead of his own.  His reason might be that your mobile number has some resemblance with his. Again, And a code meant for his phone has been sent to your mobile number. He will plead with you to call the code sent to your phone to him. The truth is that he is a  fraudster using your mobile number for a fraudulent online transaction on a website. The website requires a “Two-Factor Authentication (2FA)(Learn about Two-Factor Authentication now)” for an access to be granted or for the transaction to be consummated. If you release the code to the fraudster on phone, you have helped him to dupe you.

online bank cards

Fake Blocked Card Alert

  • You may receive a text message on your mobile number informing you that your bank card has been BLOCKED as a result of incomplete BVN registration. They will request for your cooperation to enable them unblock your account. They request you to supply your online bank details to a given mobile line. If you do, the Fraudsters will hit your account with fraudulent transactions.
  • You receive a fake “Debit Alert”of a deduction from your account by the bank. Then a request to call a phone number if you do not want subsequent monthly deductions on your bank account. When you call the number, the recipient will request for your bank details to be sent to him through phone, This is to enable him reverse or stop the transaction. If you release your online banking details through phone  , you have helped the fraudster to hit your account.


Method Involving Use Of Emails

  • Another method is by sending an email purportedly emanating from your Bank requesting you to send in your card details ‘. The email sender may claim to use this details to update your online banking information with your  Bank. If you oblige the request, you have helped the fraudster. Whenever you are in doubt of any email, consult your Bank immediately. You may also learn how to protect yourself from fraudulent emails( Find out more here) .



  • Fraudsters sent you an email . The email is faked to have  been sent by your Bank’s email service informing you that “you have been debited N2,500 as subscription fee for the bank’s monthly magazine and the charge will continue every month. To unsubscribe and cancel that deduction from your account, you should click here (a link is given there)”. Note that the email is fake. Once you click the link and supply your details, you have assisted the Fraudsters in their operation.

More contribution on bank card frauds.

There are still many methods and strategies used by these fraudsters to obtain customers account details and then defraud them. We are yet to exhaust the list. We appreciate your contribution.

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