Massive South African credit card leak

mister

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Interesting, never heard of it :)

The other thing is that South African banks use swift to communicate to the reserve bank for interbank payments... so I won't expect CIPS in this country anytime soon.

You never know... after all it is a BRICS initiative?
 

Messugga

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CIPS isn't inspiring much confidence at present. What other options are there? There's that EU-specific service (the name escapes me now) but there aren't really any alternatives that I'm aware of?
 

Sollie

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http://mybroadband.co.za/news/banking/165798-standard-bank-downtime-details.html
Standard Bank downtime – details

Standard Bank has scheduled downtime to perform changes to its system.
By Staff Writer - May 20, 2016

Standard Bank will implement system changes on 22 May 2016 which will result in downtime for clients between 02:00 and 11:00.

“The downtime will affect your ability to perform certain banking activities and transactions,” said Standard Bank.

The following services will be disrupted during this period:

ATM deposits.
The banking app, business online, Internet, telephone, and cellphone banking services.
Assistance at Standard Bank branches, Customer Contact Centres, and AlwaysOn Banking via WeChat.

Customers can still use the following services during the downtime:

Debit, cheque, or credit cards to make in-store purchases and cash withdrawals at ATMs.
SnapScan, MasterPass, and Travel Wallet Cards services.

Only thing that does not fit:
http://the-japan-news.com/news/article/0002963984
all the money was withdrawn over a period from a little past 5 a.m. to shortly before 8 a.m.

02:00 to 11:00 SA time = 09:00 to 18:00 Japan Time
 

garp

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Nah, it's 99% of the time an 'inside man' when it comes to these things in my experience.

They may have had an inside collaborator, but this stinks of a large scale hack. And the banks tend to prefer the "inside man" explanation as it draws attention away from the fact that their systems are possibly full of holes. At least you can write of an internal collaborator as an anomaly, but a system breach brings into question their whole edifice.
 

ScrnScrm

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CIPS isn't inspiring much confidence at present. What other options are there? There's that EU-specific service (the name escapes me now) but there aren't really any alternatives that I'm aware of?

Europe uses Fast BACS/BACS.

revolut FTW.
 

ldmelsa

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Foreign transactions of that amount didn't trigger fraud systems? Lol.

First time I payed Flickr (USA) it did not go through, then fraud department called and asked if it was me - so yeah... it is strange.
 

ScrnScrm

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The other thing is that South African banks use swift to communicate to the reserve bank for interbank payments... so I won't expect CIPS in this country anytime soon.

SAMOS settlements are via the BankServ PCH - they are NOT via the SWIFT network. They just happen to use the SWIFT format (and SWIFT standard) and are thus required by the reserve bank to register for BIC-8 codes. SWIFT see no interbank revenue in SA.
 
Joined
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SAMOS settlements are via the BankServ PCH - they are NOT via the SWIFT network. They just happen to use the SWIFT format (and SWIFT standard) and are thus required by the reserve bank to register for BIC-8 codes. SWIFT see no interbank revenue in SA.

Of course those messages are sent via SWIFT? if not, then what?
 
Joined
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Messages
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SAMOS settlements are via the BankServ PCH - they are NOT via the SWIFT network. They just happen to use the SWIFT format (and SWIFT standard) and are thus required by the reserve bank to register for BIC-8 codes. SWIFT see no interbank revenue in SA.

o, and bankserv is a ACH, not a PCH, very different.
 

EricsON

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Perhaps that is what they took advantage of. The bank would be taking down most of its banking systems and perhaps some of the fraud detection systems went down early on Saturday night to prepare for the maintenance window.

This all reeks of an insider job.
 

Sollie

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Apr 20, 2005
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Perhaps that is what they took advantage of. The bank would be taking down most of its banking systems and perhaps some of the fraud detection systems went down early on Saturday night to prepare for the maintenance window.

This all reeks of an insider job.

Or insider knowledge (loose lips).
 
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