Big ABSA Internet banking security concerns

[ginggs]

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.

Surely Standard Bank too?

 

[Rouxenator]

And of all those lovely local banks, who is going to give me prime -2% on my homeloan?

 

[siraman]

And of all those lovely local banks, who is going to give me prime -2% on my homeloan?

And suddenly they are not so lovely anymore. Unless you one of the top 1% South Africans with assets in the millions you might crack it.

 

[senyetse]

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.

Granted, less of a concern than ABS, but the Capitec accounts were also fraudulently created. At least some cause for concern.

 

[Rouxenator]

And suddenly they are not so lovely anymore. Unless you one of the top 1% South Africans with assets in the millions you might crack it.

Yes, even when I applied for the loan back in 2007 it was only Standard and ABSA that offered me -2%. So for that reason, and the fact that I do not want new account/credit/pin numbers I am sticking with ABSA. They are the most expencive (R200+ pm platinum) but they have never annoyed me.

 

[siraman]

Granted, less of a concern than ABS, but the Capitec accounts were also fraudulently created. At least some cause for concern.

Yes,concerns about FICA.

 

[siraman]

Granted, less of a concern than ABS, but the Capitec accounts were also fraudulently created. At least some cause for concern.

Yes,concerns about FICA.

 

[Lord Nikon6]

Why do people still support ABSA? Those profits are headed for the UK. Rather support a more trustworthy local bank.

Actually, you'd think an international tie within a bank may be a good thing.

 

[Valerion]

Actually, you'd think an international tie within a bank may be a good thing.

This IS Barclays. The same bank that tried to get a thesis on insecurity in banking suppressed. Their standard approach is to pretend the problem doesn't exist, or to make sure no-one can find information about it. Takes quite a bit to convince them to increase security.

http://www.theregister.co.uk/2010/12/29/chip_and_pin_take_down_rebuffed/

 

[j4ck455]

Surely Standard Bank too?

Banking your money with Standard Bank is about the same as funding a 419 scam (it will end up in Little Nigeria or Nigeria proper sooner than later).

 

[Lord Nikon6]

This IS Barclays. The same bank that tried to get a thesis on insecurity in banking suppressed. Their standard approach is to pretend the problem doesn't exist, or to make sure no-one can find information about it. Takes quite a bit to convince them to increase security.

http://www.theregister.co.uk/2010/12/29/chip_and_pin_take_down_rebuffed/

No wonder they wanted to team up with ABSA....same standards.