Section 33: Electronic cards related fraud

1 A person who, with intent to defraud, uses any access device including credit, debit, charge, loyalty and other types of financial cards, to obtain cash, credit, goods or service commits an offence and is liable on conviction to imprisonment for a term of not more than 7 years or a fine of not more than =N5,000,000.00 or to both fine and imprisonment and is further liable to pay, in monetary terms, the value of loss sustained by the owner of the credit card.

2 A person who uses-
a a counterfeit access device,
b an unauthorised access device,
c an access device issued to another person, resulting in a loss or gain, commits an offence and is liable on conviction to imprisonment for a term of not more than 7 years or a fine of not more than =N5,000,000.00 and forfeiture of the advantage or value derived from his act.

3 A person who steals an electronic card commits an offence and is liable on conviction to imprisonment for a term of not more than 3 years or to a fine of not more than=N 1,000,000.00 and is further liable to repay in monetary terms the value of loss sustained by the cardholder of forfeit the assets or goods acquired with the funds from the account of the cardholder.

4 A person who receives a card that he knows or ought to know to have been lost, mislaid, or delivered under a mistake as to the identity or address of the cardholder and who retains possession with the intent to use, sell or to traffic it to a person other than the issuer or the cardholder, commits an offence and is liable on conviction to imprisonment a term of not more than 3 years or to a fine of not more than =N1,000,000.00 and is further liable to pay, in monetary terms, the value of loss sustained by the cardholder.

5 A person who, with intent to defraud the issuer, a creditor, or any other person, obtains control over a card as security for a debt, commits an offence and is liable on conviction to imprisonment for a term of not more than 3 years or to a fine of not more than =N3,000,000.00 or both and is further liable to pay, in monetary terms the value of loss sustained by the card holder or forfeit the assets or goods acquired with the funds from the account of the cardholder.

6 A person, other than the cardholder or a person authorized by him, with the intent to defraud the issuer or a creditor, signs a card commits an offence and is liable on conviction to imprisonment for a term of not more than 3 years or a fine of not more than =N1,000,000.00.

7 A person who, with intent to defraud the issuer or a creditor, uses, for the purpose of obtaining money, goods, services, or anything else of value, a card obtained or retained fraudulently or a card which he knows is forged or expired, or who obtains money, goods, services, or anything else of value by representing, without the consent or authorisation of the cardholder, that he is the holder of a specified card, or by representing that he is the holder of a card and such card has been validly issued, commits an offence and is liable on conviction to imprisonment for a term of not more than 3 years and a fine of not more than =N1,000,000,00.

8 A creditor who, with intent to defraud the issuer or the cardholder, furnishes goods, services, or anything else of value upon presentation of a card which he knows is obtained or retained fraudulently or illegally or a card which he knows is forged, expired, or revoked commits an offence and is liable on conviction to imprisonment for a term of not more than 3 years or a fine of not more than =N1,000,000.00 or to both fine and imprisonment.

9 A creditor who, with intent to defraud the issuer or the cardholder, fails to furnish goods, services, or anything of value which he represents in writing to the issuer or the cardholder that he has furnished, commits an offence and is liable on conviction to imprisonment for a term of not more than 3 years or a fine of not more than =N1,000,000.00 or both.

10 A person who is authorised by a creditor to furnish goods, services, or anything else of value upon presentation of a card or card account number by a cardholder, or any agent or employee of such person, who, with intent to defraud the issuer or the cardholder, presents to the issuer or the cardholder, for payment, a card transaction record of sale, which sale was not made by such person or his agent or employee, commits an offence and is liable on summary conviction to a fine of not more than =N500,000.00 and to imprisonment for a term of 3 years.

11 A person who, without the creditor's authorisation, employs, solicits or otherwise causes a person who is authorised by the creditor to furnish goods, services, or anything else of value upon presentation of card account number by the cardholder, or employs, solicits or otherwise causes an agent or employee, of such authorised person, to remit to the creditor a card transaction record of a sale that was not made by such authorised person or his agent or employee commits an offence and is liable on conviction to imprisonment for a term of not more than 3 years or to a fine of not more than =N1,000,000.00 or both.

12 A person who, with intent to defraud, possesses counterfeit cards, invoices, vouchers, sales drafts, or other representations or manifestations of counterfeit cards, or card account numbers of another person, commits an offence and is liable on conviction to imprisonment for a term of not more than 5 years or to a fine of not more than =N3,000,000.00 or both.

13 A person who receives, possesses, transfers, buys, sells, controls, or has custody of any card making equipment with intent that such equipment be used in the manufacture of counterfeit cards commits an offence and is liable on conviction to imprisonment for a term of not more than 5 years or to a fine of not more than =N7,000,000.00 or both.

14 A person who, with intent to defraud another person, falsely alters any invoice for money, goods, services, or anything else of value obtained by use of a card after that invoice has been signed by the cardholder or a person authorised by him, commits an offence and is liable on conviction to imprisonment for a term of not more than 3 years or to a fine of not more than =N5,000,000.00 or both.

15 An institution that makes available, lends, donates, or sells any list or portion of a list of cardholders and their addresses and account numbers to any person without the prior written permission of the cardholders, commits an offence and is liable on conviction to a fine of =N10,000,000.00.

16 An institution may make available to the Central Bank of Nigeria or a licensed credit bureau, which seeks to determine only the cardholders' rating, any list or portion of a list of any cardholder and their addresses without the permission of the cardholder, but shall, within 7 working days, give notice in writing of the disclosure to the cardholder and the institution which fails to comply with the requirement to notify the cardholder, commits an offence and is liable on conviction to a fine of not more than =N1,000,000.00.