Big ABSA Internet banking security concerns

just of note, absa home page does not even contain a SSL certificate, being one of the major 4 banks in SA I think they would have done that, just checked the other banks, seems that only FNB has one, I know that Capitec uses a security token when you do online banking, not too Blame Absa alone, what about MTN, dont you need identification to do a sim swop?? I think that would be common sense, not just anyone can do it, dont they do security checks??
 
Wolverinewp said:
just of note, absa home page does not even contain a SSL certificate, being one of the major 4 banks in SA I think they would have done that, just checked the other banks, seems that only FNB has one, I know that Capitec uses a security token when you do online banking, not too Blame Absa alone, what about MTN, dont you need identification to do a sim swop?? I think that would be common sense, not just anyone can do it, dont they do security checks??
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There is an SSL cert when you go to the login page.
 
Very happy with capitec. The login application makes you feel little safer :)
 
Wolverinewp said:
...dont you need identification to do a sim swop?? I think that would be common sense, not just anyone can do it, dont they do security checks??
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Well yes, but that's the issue here - someone in MTN has to be involved in this business. That said, asking for identification is probably just a case of "please tell me your postal address"
 
milomak said:
Assuming say 95% of sim swaps are legitimate, why should these people be punished?
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For the 5% where it is not legitimate and having their bank account cleaned out, THAT is punishment.

Don't want to wait? Make a personal appearance with all the relevant documentation at an outlet authorised to do SIM swaps. They should make a record of it, including taking a video recording of the transaction, showing both operator and client, and maybe fingerprints.
 
kripstoe said:
There's more to this issue than it seems.
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All ATM bombings in Cape Town, maybe with one or two exceptions, targeted ABSA ATMs.
Could this be linked, has it become easier and more lucrative to perform SIM based fraud than bomb ATMs?
 
The weakest link is MTN who allows SIM swaps to occur.

What if someone does a SIM swap and commit a more serious crime with it? Like murder someone? Then the real owner of the MSISDN will be implicated.

ABSA should not fight the customers, they should focus on destroying MTN.
 
kingrob said:
Just remember that ABSA has been in an absolute hurry to get rid of all their IT staff and developers, everything will now be done by Barclays.

And you can already see why that was a monumental cock-up.

Hey, Maria Ramos, how does it feel now?
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What's this got to do with IT systems?
 
Rouxenator said:
What about MTN allowing the illegal SIM swaps in the first place?
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Exactly. regardless of the crime commited, Illegal sim swaps are a risk, and MTN cannot just stand there and say "uh yeah, not our fault. K thanks now where is our monthly fee?"
 
Lord Nikon6 said:
Exactly. regardless of the crime commited, Illegal sim swaps are a risk, and MTN cannot just stand there and say "uh yeah, not our fault. K thanks now where is our monthly fee?"
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I know I should not hope for such things, but I really do hope someone commits a more serious sim swap crime like a bomb threat or something. That will put MTN in a very bad position.
 
Why do people still support ABSA? Those profits are headed for the UK. Rather support a more trustworthy local bank.
 
Rouxenator said:
Please do name one.
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FNB, theyre local. So are capitec. Nedbank might not be cheap, but theyre local. And sure, no bank will ever be 100% trustworthy. Its in their nature to be skebengas... but ABSA are the bottom of the barrel and any move is a better choice.

At the very least, more money is kept in our economy which is better for South Africa.
 
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senyetse said:
I'd be wary of Capitec as well. The money was transferred in most cases to a Capitec account.
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The story is about fraudulent withdrawals of money not post fraudulent deposits.Care to name a few cases of fraudulent Internet banking withdrawals from Capitec, then I'll also be wary.
 
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