Huge South African credit card leak – what happened

Kosmik

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Hold on, "hacked or skimmed", how does one "skim" a fictitious credit card?
 

Kosmik

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getting details of customers of course and maybe, lets hope not, getting help inside.

“This involved the withdrawal of cash using a small number of fictitious cards at various ATMs in Japan,” said Standard Bank’s Ross Linstrom.

“The target of the fraud has been Standard Bank and there has been no financial loss for customers.”

No customers were involved in this.

The old boys can back me up on this one but this sounds like those "credit card number" generators that were used in the phreaking days. Shouldn't be possible in today's modern age.
 

HBee

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Now perhaps the bank will have a little more appreciation for its customers security concerns.
 

skimread

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Didn't they have a big downtime on Sunday for maintenance? Could be related

I wonder if we'll ever know the truth of what really happened
 

cozinsky

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I don't understand how they could steal the money without a PIN if they skimmed or duplicated the cards. Or were the cards created with a PIN? Sounds like an inside job?
 

zippy

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Is this the same as the "Massive South African card leak" ?

:)
 

Nerfherder

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I don't understand how they could steal the money without a PIN if they skimmed or duplicated the cards. Or were the cards created with a PIN? Sounds like an inside job?

One of two things happened.

Either they had all that info : Card number and PIN, and they made copies of the cards

OR

They were able to create new cards with new PINs
 

Nerfherder

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pre-created card files probably got leaked somehow

I wonder if this is more to do with security in the Japanese banking sector then SA.


If they say that customers were not affected then was it because the cards were not linked to SA accounts or because the SA banks intervened and blocked the transactions on the SA accounts ?
 

cozinsky

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One of two things happened.

Either they had all that info : Card number and PIN, and they made copies of the cards

OR

They were able to create new cards with new PINs

I think you are dead right. Thanks.
 

Messugga

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Huge speculation but the leak might be related to the down time to fix some holes that was found in the system, after the transactions was made.
Nah. The downtime has been scheduled for ages and relates to boring things.
 
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