Most people that were targeted are those that make use of P2P for transacting often and people that deals with huge amount in their transactions. Although, your advice is very good.
Also not to label the purpose of the transaction as bitcoin, crypto or anything that has to do with crypto.
You can see how incompetent government and its officials are. No difference in those fintech and commerical banks. If it is commerical banks, a lot will go unnoticed as well.
Topic: Crypto Transactions Restrictions; Banks tracking algorithm exposed! - page 2. (Read 242 times)
May 04, 2024, 11:10:02 AM
May 04, 2024, 10:53:09 AM
Yeah this is true there is nothing hidden there and I can relate as well most times when I do trade on cryptocurrency exchange then when Binance was offering p2p i don't engage myself with kobo deal. What happens is that I will always want my payment to ends with round figures, let say 10k, 20k or 35k if possible the narration you can states buy building material, or Pay for Plumbing material such as food stock and etc. With this there will be no suspect or your account.
May 04, 2024, 10:31:37 AM
This is not New but as we all know there were more than thousands of accounts frozen under the past CBN Governor without them knowing how they were tracked but I'm going to expose the algorithms banks were using and still using to track down these crypto related transactions.
If you're selling your crypto to Naira with decimals you're likely going to get caught up by the system and get instant frozen.
1. Don't sell your crypto for Naira 20,567.00 the 67 Kobo is what the system is going to detect and flag a warming on your account because no business transact in Kobo except crypto. Tell your vendors not to pay Kobo, tell him to pay you only N20, 500. This way the system will not suspect anything.
2. You could also avoid chatting to your vendors as some of them can be busy won't even check messages. Just use the "With Fiat" section and not the *Crypto" section and simply type in the amount of Naira you want without including the KOBO. This way you can trade as much as you want with being flagged.
Lastly. If you're not a vendor why not trade once or twice a week? Going to trade for 5000, 10000, after every minutes is not a good sign, the system might not be able to detect it as crypto related but for your own safety trade once or twice daily.
Fintech banks are not your regular lazy commercial banks, they have the technology to track your transactions. I just exposed the current algorithms.
If you're selling your crypto to Naira with decimals you're likely going to get caught up by the system and get instant frozen.
1. Don't sell your crypto for Naira 20,567.00 the 67 Kobo is what the system is going to detect and flag a warming on your account because no business transact in Kobo except crypto. Tell your vendors not to pay Kobo, tell him to pay you only N20, 500. This way the system will not suspect anything.
2. You could also avoid chatting to your vendors as some of them can be busy won't even check messages. Just use the "With Fiat" section and not the *Crypto" section and simply type in the amount of Naira you want without including the KOBO. This way you can trade as much as you want with being flagged.
Lastly. If you're not a vendor why not trade once or twice a week? Going to trade for 5000, 10000, after every minutes is not a good sign, the system might not be able to detect it as crypto related but for your own safety trade once or twice daily.
Fintech banks are not your regular lazy commercial banks, they have the technology to track your transactions. I just exposed the current algorithms.
Jump to: