Absa suffers data breach

Johand said:
I do feel sorry for the banks though. Thousands of employees and you are making tradeoffs in terms of customer service and data security. And syndicates would just love to use either carrot (money/women) or stick (intimidation/voilence) to turn employees into spies.

Probably the safest bank is the one with the fewest employees.
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This is where crypto is superior. With double entry accounting of money and current banking it is possible to steal, hack, confiscate your money. Crypto (triple entry accounting) takes that away. You dont have to "trust" your super shady bank to do the right thing.
 
So will ABSA take any sort of responsibility for this? If someone loses money because of this breach?
 
ghoti said:
This is where crypto is superior. With double entry accounting of money and current banking it is possible to steal, hack, confiscate your money. Crypto (triple entry accounting) takes that away. You dont have to "trust" your super shady bank to do the right thing.
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You basically have to bet that one entity doesn't take control of more than half the network.


Transactions on the Bitcoin network are processed by so-called miners -- mostly companies operating vast arrays of computers. As competition increased, many smaller participants became unprofitable and dropped out, while the larger operations have entered into various partnership agreements. As a result, five mining entities -- all of them based in China -- control 49.9% of all computing power on the network, the highest concentration of mining power ever, a new analysis from TokenAnalyst found.

Bitcoin’s Network Operations Are Controlled by Five Companies - Bloomberg
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Oh right....

The problem with btc is that its design doesn't really protect against an attack by a large government that can take other people's money and spend it as they fit. This is the biggest problem I have with BTC as the biggest threat to your bank account is not a hacker. It is a government that devalues the currency.
 
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Am I the only one here that has never had a single days problem with FNB?
Ive been with them since they were Barclays

If You're In Your 30s, You'll Love This #bobjunior #bobt – 2oceansvibe News | South African and international news
 
Papa Smurf said:
I honestly did not even know ABSA was still around.
Thought they disappeared in the days of Volkskas and other colonial bank times
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Are you a stoner and don't notice what is going on around you? Have you never seen a absa ATM? Or bank because those things are all over.
 
Is today a day ending in Y?

Just as the speed of light in a vacuum is a universal constant, so too is ABSA having a data breach of some sort.
 
Mekon said:
Are you a stoner and don't notice what is going on around you? Have you never seen a absa ATM? Or bank because those things are all over.
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I don't stick my card into an unknown hole
FNB FTW :thumbsup:
 
Mekon said:
Are you a stoner and don't notice what is going on around you? Have you never seen a absa ATM? Or bank because those things are all over.
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Probably...and also believes in fairytales and that FNB has more ATM’s than Absa :ROFL:
 
backstreetboy said:
There're many places that do it for cheaper anyway including ClickFX and South Africa Money Transfers - Exchange4free etc.
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Don't know about ClickFX - but with E4F you had to make a phone call every time if you wanted to get an exchange rate quote and initiate a transfer - what a joke. There was also a whole thing about pretty much opening a bank account with the bank they were using for the transfers into which you first had to deposit the money etc if I remember correctly.
 
No point in comparing local banks. They're all dumpster fires eventually. Occasionally, one will rise above the ashes for a couple of years while they make an extra effort to attract customers or upgrade their platforms, but they'll just as quickly revert when they capitalise on their new victims.
 
Gtx Gaming said:
Same FNB been good to me.

They pay me to bank wit them, so can't say no to that!
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Yup, what I get back in eBucks covers all my banking expenses
And ive only had good service with them for last 35 years since 1985
 
ABSA said:
“Please note that we will never ask you to share your ‘keys to the safe’ (including your online banking PIN or password or your card CVV, PIN or one-time password) with us or to approve activities to prevent fraud.”
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WTF does that mean?

ABSA said:
“Kindly note that we will never ask you to approve the reversal of unauthorised debit orders.”
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Maybe I need coffee to understand what ABSA is trying to say.
 
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