Illegal Use: EFCC To Clamp Down On Fraudulent POS Machines - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 4
June 14, 2019
The Economic and Financial Crimes Commission, EFCC has said it will start a clampdown on the fraudulent use of Point of Sale, POS machines in the country.
The decision was announced in a statement by the Makurdi Zonal Head of the EFCC, Johnson Babalola, in an interactive session with Regional Bank Managers at the EFCC Zonal office in Benue State.
Babalola, while speaking on behalf of the acting EFCC Chairman Ibrahim Magu, charged banks to ensure proper monitoring and strict compliance by those to whom they issue POS machines.
He said there was need for some of the POS machines to be withdrawn from such individuals. He also warned banks to adhere strictly to the Post-No-Debit, temporary freezing of account order placed on banks found to be involved in suspicious transactions.
He noted that some staff of banks were in the habit of giving prior notice to customers whose accounts were being placed on Post-No-Debit, aiding and abetting crime and obstruction of justice, instead of assisting the Commission as stipulated by law.