Folks,
Could this have happened to any one out there?
In just four days between July 27th and July 30th 2012 my bank account, with one of the largest Tanzanian banks, was unbelievably emptied by suspected fraudsters who got away with a fortune my life time. Mark you this is a bank with which I have seamlessly operated the same account for nearly six years. I will not mention names for now as I am still trying to get to the bottom of the matter, after which I will give a comprehensive press release.
My VISA-enabled bank card
It all started last Friday, July 27th, at around 10 am when I attempted to withdraw TZS 100,000 with my VISA-enabled bank card from an ATM machine of yet another largest Tanzanian bank at Banana, Ukonga in Dar es Salaam. The machine could not dispense the cash or a receipt but displayed a message to the effect that it was uanbel contact my banker - whatever that means!. Being used to this kind failed ATM withdrawals it did not bother me so I moved on to other things putting aside the activity for another time. Little did I know that this was the beginning of a horrifying banking experience of my lifetime.
Came Saturday and I was at another ATM machine, this time one owned by my bank of six years. Being eager to know whether the non-dispensed TZS 100,000 was still intact in my account, my first transaction was naturally to "check balance" which gave an indication that all was not well. I went a step further to print a mini-statement on the machine which revealed that a total of TZS 900,000 had been withdrawn from the account in four transactions of TZS 100,000 (27th July), TZS 200,000 (July 28th), TZS 400,000 and TZS 200,000 (July 28th 2012).
In the meantime, this was happening during the weekend while my Monday and Tuesday were spent in Dodoma at Bunge attending the MOHSW budget session.
And when I showed up yesterday (August 1st) at my bank branch in Dar to report the loss of TZS 900,000 from my account, I was met with yet another surprise package, when upon checking it was discovered that a further TZS 400,000 had again been withdrawn from the account on July 30th, bringing the total to TZS 1,300,000 in just four days!! All the five illegal transactions appeared as VISA cash withdrawals done using my own bank card from ATMs not owned by the issuing bank!!!
The immediate action taken by my bank branch was to block the card to avoid further milking of the already dry bank account. The bank has launched investigations into the matter but another sad news is that it takes a minimum of 45 days to get such stolen money back to the owners' account.
Duplicate ATM cards
On making further inquiries as to what may have caused this to happen , I was shocked to learn from some staff (names withheld) that mine is not an isolated incident, but part of a wave of fraudulent activities done using duplicate VISA-enabled ATM cards that most banks are facing with interbank VISA disputes already running to hundreds of million of shillings. I was also to learn the problem is to do with some banks operating ATM machines that do not meet international/recommended standards.
I was informed in confidence that when you draw money from such substandard ATMs with your VISA-enabled card, your banking details including ATM number are captured by fraudsters who use the details to produce "duplicate ATM card" which is then used to raid your account. Two local banks were cited (one a large one and another one with offshore banking activities) as having these substandard ATM machines.
As I mentioned, I will not mention names for now as I am still trying to go down to the root of the matter. Not bad if someone out there with better insights can comment on this or shed more light. As for now my resolution is never to ever use my bank card on a different bank's ATM machine.
John Wanyancha
Karibu Jukwaa la www.mwanabidii.com
Pata nafasi mpya za Kazi www.kazibongo.blogspot.com
Blogu ya Habari na Picha www.patahabari.blogspot.com
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