Moshood Adekunle, (not real name), an undergraduate at the University of Ibadan, has narrated how his FairMoney account was hacked and used to obtain a loan of N2.5 million.

Speaking with FIJ, Adekunle said the fraudulent transaction took place on December 21, after a customer care representative called him and started to provide security details about his account.

“When the customer care agent called me, he told me he was an agent with FairMoney, but I was initially sceptical,” he told FIJ.

READ ALSO: Fraudster Took N1m Loan on a FairMoney Account. Owner Is in Crisis Now

“I only started to believe him when he began to mention sensitive details about my FairMoney profile. He didn’t call to ask me to name them; he had the information already and was just rolling it out.”

Adekunle said the customer care agent, whom he suspected to be a fraudster, went ahead to use his account to obtain a loan of N2.5 million and then transferred it to a MoniePoint account.

“After the call, the customer care agent took a loan of N2.5 million using my profile, and he transferred it to a MoniePoint account named MiracleJacob Enterprise 2 with account number 5451403711,” he said.

“He made a series of phone calls, making me realise that he was from Fairmoney. He even went to the extent of mentioning my profile passcode, which was meant to be private, and so I believed him.

“When I checked the phone number of the scammer on Truecaller, it revealed the name of the fraudster as ‘Favorite Mercy.'”

The undergraduate said he suspected Mercy had chosen his account to perpetrate the fraud because he had a good credit score with the microfinance bank.

“I have been using FairMoney for over a year, and I have a very good credit score. I have never defaulted on payments. According to the fraudster, he checked my profile and found that I had a good loan record with them.

READ ALSO: Conman Seamlessly Obtains N200,000 Loan in FairMoney Customer’s Name

“I have never owed them, and I also ensure that I repay their loans on time. The last time I took a loan from them was in October, and the amount I borrowed was N1,500.

“But another surprising thing is that the amount the fraudster borrowed is not an amount I can easily pull off.

“Initially, FairMoney said I would repay the first installment by January 20, but after reaching out to their complaints team, they said they would investigate the issue and get back to me.

“I didn’t take any loan from FairMoney. On my dashboard, it shows that I have an outstanding loan of N5.4 million and I am to repay everything over a period of two years.”

FIJ sent an email to FairMoney about the fraudulent transaction on Wednesday morning but got an automated response saying that a customer care representative would reach out within 24 hours.

“We have received your email. Please expect a reply from our customer service representative within 24 hours,” the email reads.

FIJ can confirm that no customer care representative has reached out within the stipulated hours.