Massive South African credit card leak

[Slootvreter]

Still nothing on which bank ?

Like the #CliftonPooper, identity will probably not be revealed.

 

[Kosmik]

Just looking to address the elephant in the room but exactly how did the perps get pins for the credit cards to draw cash from an ATM? Fraudulent transactions are one thing but to draw cash you require a pin or can one encode a card and jippo the encoding to have a custom pin.

 

[supersunbird]

Just looking to address the elephant in the room but exactly how did the perps get pins for the credit cards to draw cash from an ATM? Fraudulent transactions are one thing but to draw cash you require a pin or can one encode a card and jippo the encoding to have a custom pin.

Hacked POS machines?

 

[Kosmik]

Hacked POS machines?

Possible but I'm leaning towards this being a bank tech issue more than a user\customer\hack. It seems a bit too large to be the normal credit card fraud.

 

[whatwhat]

Just looking to address the elephant in the room but exactly how did the perps get pins for the credit cards to draw cash from an ATM? Fraudulent transactions are one thing but to draw cash you require a pin or can one encode a card and jippo the encoding to have a custom pin.

Well if they can coordinate so many people so withdraw at the ATMs then they can probably coordinate people in a SA bank as well.

 

[Vegeta]

Mine would have just given them an "insufficient funds" message. Take a bite of that sh it-sandwich you narrow eyed bastards!

 

[akescpt]

who the hell let the person in front of them do 140 withdrawals? imagine being that guy.

this is not a mickey mouse crime. the co-ordination at play is staggering. again wondering why nothing in our news. is the propaganda machine so efficient? must be the guptas retaliation against being kicked out of the banking system here.

 

[whatwhat]

who the hell let the person in front of them do 140 withdrawals? imagine being that guy.

this is not a mickey mouse crime. the co-ordination at play is staggering. again wondering why nothing in our news. is the propaganda machine so efficient? must be the guptas retaliation against being kicked out of the banking system here.

This is Japan, so there is a little shop with an ATM every 10 steps that you give.

 

[CamiKaze]

Standard Bank.

 

[MickeyD]

STANDARD BANK GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number 1969/017128/06
JSE Share code: SBK
Namibian Share Code: SNB
ISIN: ZAE000109815
(Standard Bank Group)

ANNOUNCEMENT REGARDING FRAUD INCIDENT

The South African banking operations of Standard Bank Group have been the victim of a sophisticated, coordinated fraud incident. This involved the withdrawal of cash using a small number of fictitious cards at various ATMs in Japan. The target of the fraud has been Standard Bank and there has been no financial loss for customers. Standard Bank has taken swift action to contain the matter and the gross loss to the bank is estimated at R300m. This is prior to any potential recoveries that may serve to reduce the loss. The relevant authorities have been alerted. Investigations are at a sensitive stage and further information will be provided as appropriate.

23 May 2016
Lead sponsor
The Standard Bank of South Africa Limited
Independent sponsor
Deutsche Securities (SA) Proprietary Limited
Namibian sponsor
Simonis Storm Securities (Proprietary) Limited
Date: 23/05/2016 08:51:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

 

[kianm]

Name?

 

[Kevin Lancaster]

Standard Bank hit by R300 million credit card fraud

R300 million has been stolen from ATMs in Japan with counterfeit credit cards using account information leaked from Standard Bank.

 

[Ho3n3r]

Standard Bank... Only thing I have there, is a home loan. Mmmmmm...

Secretly hoping they paid off my home loan with some of the money they stole.

 

[Pixelbender]

Standard bank "spin doctors" are going to have a hard time covering this up or just blame clients or third party api's or something.

STANDARD BANK GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number 1969/017128/06
JSE Share code: SBK
Namibian Share Code: SNB
ISIN: ZAE000109815
(Standard Bank Group)

ANNOUNCEMENT REGARDING FRAUD INCIDENT

The South African banking operations of Standard Bank Group have been the victim of a sophisticated, coordinated fraud incident. This involved the withdrawal of cash using a small number of fictitious cards at various ATMs in Japan. The target of the fraud has been Standard Bank and there has been no financial loss for customers. Standard Bank has taken swift action to contain the matter and the gross loss to the bank is estimated at R300m. This is prior to any potential recoveries that may serve to reduce the loss. The relevant authorities have been alerted. Investigations are at a sensitive stage and further information will be provided as appropriate.

23 May 2016
Lead sponsor
The Standard Bank of South Africa Limited
Independent sponsor
Deutsche Securities (SA) Proprietary Limited
Namibian sponsor
Simonis Storm Securities (Proprietary) Limited
Date: 23/05/2016 08:51:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

 

[EricsON]

Guess whose bank charges are going up soon...

 

[AirWolf]

Well they're just not up to Standard.

Too soon?

 

[Pixelbender]

Was this money stolen from the Credit available on the card? So, no one should have to repay that money. Standard bank has to write it off?

 

[Pho3nix]

Was this money stolen from the Credit available on the card? So, no one should have to repay that money. Standard bank has to write it off?

Fake cards. No impact to customers.

 

[EricsON]

Fake cards. No impact to customers.

How do banks honour a withdrawl "using a small number of fictitious cards" without checking the balance of those cards? Surely fictitious cards don't have credit?

I'm sure I saw notice of a planned Standard Bank maintenance window this weekend. Was it related or the window of opportunity?

 

[Kosmik]

Fake cards. No impact to customers.

Hehe, called it