A Young Man In His Late 20s, In EFCC Net For Possession Of 41 ATM Cards And Other Tools Of Fraud. .

A young man in his late twenties, who was found in possession of 41 Automated Teller Machine (ATM) cards during his arrest has disclosed that he used the cards to do what he described as Chargeback, the Economic and Financial Crimes Commission (EFCC) announced on Tuesday, July 5.

Chuks Ifeanyi Nwamannah, aged 27 years old who is said to be an agent of a football betting company, said he used the cards to engage in Chargeback.

According to the EFCC, Chargeback is the fraudulent act of using an ATM card to withdraw money and afterwards call the bank to dispute the transaction and ask for reversal.

Avaliable information has it that, Chuks was arrested at the Fruits Market, Wuse Zone 2, Abuja, following intelligence reports gathered by the operatives of the Abuja command of the anti graft agency over his fraudulent activities. At the point of his arrest, 41 ATM cards were found on him.

According to the EFCC in a statement on the matter posted on the Twitter handle of the commission on Tuesday, other items recovered from him at the point of his arrest were a Toyota Venza, one POS machine, two laptops, six iPhones, a driver’s license, one Apple wristwatch, among others.

He was said to have given more useful information to the operatives of the commission while the commission added that he would be charged to court as soon as investigation is concluded