Police urge POS operators to be cautious of customers withdrawing large sum

The Delta State Police Command has urged Point-of-Sale (POS) operators to be cautious when handling large cash transactions, particularly those involving armed individuals.

It noted that customers requesting large cash transactions should be accompanied by a video by the POS operator.

Police spokesperson, SP Bright Edafe, stated on Friday in a post on X, noting the dangers associated with processing large withdrawals for customers accompanied by armed men.

“Releasing money as high as #2,500,000 is dangerous, especially when they are being accompanied by armed men who could be kidnappers. Saying it’s business or whatever you call it,” Edafe stated.

Edafe referenced a recent case where kidnappers confessed to forcing victims to use POS terminals to transfer ransom money, later collecting the cash in person.

“We had a case where the kidnappers confessed that they forced their victims to transfer ransom money to POS and later meet them and get cash. Do you say, Oh, it’s my business and I am not culpable?”

He also noted that POS operators should “Avoid being held for conspiracy. Whoever comes to you for that huge amount of money should go to the bank for cash or even do a transfer.”

Edafe further pointed out that the Central Bank of Nigeria discourages such large cash withdrawals.

“Even CBN policy forbids such huge withdrawals. Are POS operators bigger, stronger, or wiser than CBN?” he questioned.

To mitigate risk, the policeman recommends that POS operators record any customer requesting a large sum and the people who accompanied the customer.

“Even if you must release it, do a video of the so-called customers and people who accompanied him. If they have genuine intentions, they won’t be afraid of being recorded on camera.”