EFCC Lists 3 Ways BVN Can Be Used To Commit Fraud

The Economic and Financial Crimes Commission ,EFCC, has highlighted three major ways people can easily lose their Bank Verification Number (BVN).

This was disclosed by Aminu Yusuf, Head of Economic Governance of the Sokoto zonal command of the commission during the EFCC connect on Wednesday.

Yusuf said there are 3 things that are peculiar to everybody which make their BVN accessible and easily stolen. They are: loss of phone, fraudulent links and when one unknowingly releases his/her BVN details to another person.

He said statistics have shown that most people store their BVN on their phones and then owing to the fact that BVN is an eleven digit make it easily recognisable.

“And then there is a code that you can type in all our telecoms that you can access all BVNs.

“Most people know those codes. So if you lost your phone, the fraudsters know those codes and the first thing they do is to access that BVN. They look at the BVN and use it for their fraudulent purposes,” the EFCC official said.