MTN customer scammed of R97,000

Easy to blame others but OTP is only part of the login process, the fraudsters would have needed his normal login credentials as well.
 
This happened to a friend of mine as well but money wasn't transferred to bank accounts but rather a number of cash sends were performed.

Login credentials can be obtained through sources inside the bank. Think it's time people put their money under their mattresses as the banks don't protect their customers.
 
IMHO this an inside job. These cronies wouldn't go through this much trouble if they weren't sure there's good monies to be stolen. They didn't just target a single account, but seems to have knowledge of various account balances! ABSA and MTN have corrupt officials helping these guys! Thank God I don't do business with MTN! Never have never will! I'm not too far off from tossing ABSA neither!
 
Compton_effect said:
Hmm. I was planning of moving my wife's contract to MTN from the long named one. At the Vereeniging branch nogal.
Now I'm wondering if it is a good idea.
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Staple the story to your contract and tell them you will sign when you are happy the issue has been resolved. You will probably never hear from them again, but the feeling of smugness will last you a week.
 
Skerminkel said:
Staple the story to your contract and tell them you will sign when you are happy the issue has been resolved. You will probably never hear from them again, but the feeling of smugness will last you a week.
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Nope that won't do it in this case... R97K is alot of money! MTN are liable IMHO!
 
Species8472 said:
Capitec issues a OTP hardware dongle, much safer than SMS pins :)
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FNB used to do this ... then they stopped and went the cellphone root as well. If yours broke or something - you couldn't get another past a certain date :/

Maybe with all this going around, they'll relook
 
I have a hunch here....... with all of the documents that the victim would have had to hand in for RICA when upgrading/getting the new sim...... I reckon you could phone ABSA and request a password reset on the victim's internet banking (and answer all of their security questions from the RICA documents) and then gain full access to transfer the money out and the OTP sms'es would go to the new SIM that you just swapped.....

Only way I can see this being pulled off...... What are the chances of the scamster sending a phising email BEFORE the upgrade process and successfully capturing the victims ABSA login details?!
 
ghoti said:
Hush9300 said:
L Think it's time people put their money under their mattresses as the banks don't protect their customers.
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Good like in using a mattress to pay all your bills.
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The way I see it you have options.

1. Have a bank account with no VAS services attached like Internet banking and do things the old fashioned way by means of debit order or physically going into the bank.

2. Indulge in the Internet banking and open yourself to a world of hurt.

3. None of the above and sleep on your money.

Option 1 is the more likely as most of these scams are done through Internet banking. I've heard about cloned cards and it has happened to my mom but access was limited to only that one account, thank god.

I bank with Capitec now and I like the dongle system they have going. Think it's time all banks go this route b
 
moklet said:
In my opinion banks (FNB i name you) should go back to that and other banks should introduce it. Years ago I asked absa about it and their response was we use a OTP through your cellphone which is 100% secure. I don't think so.
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The problem is the hassle. ABSA uses cell OTP for credit card purchases as well as Internet Banking. This means that when I travel internationally I have to carry the OTP dongle with me (and go through the associated theft/loss risk), or be unable to make CC purchases online. My phone I carry with me everywhere. Granted, if I lose my phone I'd be in the same situation, but I tend to carry it on my person and not in my luggage.

I like Google's solution, which is a OTP generator app on your phone, plus a number of one-time use passwords you can store safely.
 
BGE said:
Nope that won't do it in this case... R97K is alot of money! MTN are liable IMHO!
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I was refering to Compton_effect's post on signing a new contract with the same shop.

Thinking about it now: why ever would anyone want to move to MTN nowadays?
 
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