Fraudsters wipe out pensioner's savings, Nedbank offers just R20,000 'goodwill gesture'

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saturnz

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Fraudsters wipe out pensioner's savings, Nedbank offers just R20,000 'goodwill gesture'

After fraudsters drained over R1 million from her Nedbank accounts, a retired teacher is left fighting for justice as the bank offers a mere R20,000 'goodwill gesture' while pursuing her for debt on the compromised accounts.
iol.co.za iol.co.za

A retired schoolteacher from Dowerglen, east of Johannesburg, has been left financially devastated after fraudsters drained more than R1 million from her Nedbank accounts in a sophisticated phishing attack.
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Essentially what happened here is the equivalent of meeting someone on the street who makes you an offer of highly discounted flights walking them into the bank, asking the teller to put all your money on the counter and then when they grab it and run blaming the bank.

Should the bank have more tools to lock your account down yes would she have used them highly doubtful.
 
Heisenborg said:
Sounds far fetched to me. How does a link on its own give anyone access to your account, nevermind that of your partner
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She installed an app from the link and then most likely gave it permission to control other apps like the banking app she just unlocked with her finger.
 
B-1 said:
She installed an app from the link and then most likely gave it permission to control other apps like the banking app she just unlocked with her finger.
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I'm Not sure that's entirely doable given some of the security controls that should be in place around a banking app.

But something sounds off about the story, whether she isn't telling the full story, or SB just has a really shyte app and piss poor security controls.
 
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ToxicBunny said:
I'm Not sure that's entirely doable given some of the security controls that should be in place around a banking app.

But something sounds off about the story, whether she isn't telling the full story, or SB just has a really shyte app and piss poor security controls.
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The banking app doesn't know the difference if it simulates the touch screen as an example:

touch simulator - Android Apps on Google Play

Enjoy millions of the latest Android apps, games, music, movies, TV, books, magazines & more. Anytime, anywhere, across your devices.
play.google.com play.google.com
 
¯\_(ツ)_/¯ said:
No banking on my phone, tyvm! Banks and other providers love trying to pressure you to use them. It normally ends with me asking if I have to take my business elsewhere. I've never had to yet.
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I'm also still a hold out. I click the install then my phone can't install the app once in a while.
 
B-1 said:
The banking app doesn't know the difference if it simulates the touch screen as an example:

touch simulator - Android Apps on Google Play

Enjoy millions of the latest Android apps, games, music, movies, TV, books, magazines & more. Anytime, anywhere, across your devices.
play.google.com play.google.com
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Then it's shyte security model from SB to not lock things down properly if those things work.
 
The question should be the recipient account where the money was transferred to, it simply cannot just be withdrawn at an ATM. Any large deposits are required to be flagged. I highly doubt the funds were transferred into a long established account so another flag should have been a significant sum deposited into a recently open account which according to legislation had to have been through FICA which is South African legislation enacted to fight financial crimes like money laundering, fraud, tax evasion, and terrorist financing. It requires "accountable institutions" (like banks, estate agents, and attorneys) to verify their clients' identities and keep detailed transaction records


What can be deemed a suspicious and unusual transaction? – FIC

www.fic.gov.za www.fic.gov.za
 
sefeddt said:
The question should be the recipient account where the money was transferred to, it simply cannot just be withdrawn at an ATM. Any large deposits are required to be flagged. I highly doubt the funds were transferred into a long established account so another flag should have been a significant sum deposited into a recently open account which according to legislation had to have been through FICA which is South African legislation enacted to fight financial crimes like money laundering, fraud, tax evasion, and terrorist financing. It requires "accountable institutions" (like banks, estate agents, and attorneys) to verify their clients' identities and keep detailed transaction records


What can be deemed a suspicious and unusual transaction? – FIC

www.fic.gov.za www.fic.gov.za
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Yeah exactly
 
saturnz said:
I remember someone on this forum talking about how pension is untouchable even if you go broke

it seems that doesn't matter
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Try reading the article you posted.

According to documents reviewed by IOL, the following amounts were taken without Westphal's knowledge, authorisation, or consent:

  • R994,300 — transferred out of her Nedbank Home Loan (Access Bond) account
  • R82,800 — removed from her Nedbank credit card account
  • R 199 000 was also removed from her husband’s Standard Bank current account
  • Total: R1 276 100
Click to expand...
 
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