ABSA and Standard Bank face big fight over Internet banking fraud

MickZA

Executive Member
Joined
Jan 19, 2007
Messages
7,576
Seems neither bank have knowledge of this case.

Guess Johan Victor "corporate law activist, litigator, and trial attorney" isn't prepared to go pro bono and is waiting for some front money ...
 

supersunbird

Honorary Master
Joined
Oct 1, 2005
Messages
51,495
No FNB, or any other?
Maybe FNB actually uses the SIM swap API from the cellular providers to prevent transactions for a period after a SIM swap, thus lessening the chances. Capitec is obviously very secure already and doesn't suffer from SIM swaps. Nedbank systems I do not know anything about.
 

werfie

Expert Member
Joined
Aug 16, 2010
Messages
2,369
Its about time.

Networks should also be taken to task for illegal sim swops. I don't believe they are liable in the cases of bank fraud, but as a separate matter, it is alarming how easily this is done, although when banks stop using sms'es, I don't really see any other reason to perform fraudulent sim swops.
 

Thor

Honorary Master
Joined
Jun 5, 2014
Messages
39,623
ABSA lying through their teeth a true product of Maria
 

RazedInBlack

RazedInBlack
Joined
Sep 4, 2008
Messages
35,670
Service providers should take part responsibility as well but I do remember ABSA's arrogant response a few months ago.
 

kwaggawerner

Senior Member
Joined
Sep 6, 2007
Messages
837
I have a friend who's a sysadmin for Absa... he said their systems are shockingly out of date and there also no real patch management system in place - but when doing change controls - approvals take weeks.

I know we all like to hate on FNB with their various downtimes and system glitches - but they seems to be pumping a big chunk of their capital into their digital banking platforms - to make sure it's faster, easier and more accessible - hopefully as a byproduct, more secure.
 

kwill

Member
Joined
Jul 15, 2016
Messages
14
the banks ,Absa and Standard bank ,should take more responsibility for securing our accounts
 

Mthiboz Onlife

Well-Known Member
Joined
Feb 27, 2015
Messages
127
Maybe this explains why absa decided to Freeze my online & Mobile Banking.... And Sent me numerous number of sms about​ online scams.... Maybe someone was trying something
 

nancy27

New Member
Joined
Apr 20, 2017
Messages
1
i was recently a victim for R9999.00 and Standard bank closed the case and cant help me:(
 
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