SA banks face increasing risk of cybercrime

My generally impression is that banks prefer to push the risk back onto customers. Rather than taking a proactive stance to assist customers who fall victim to fraud it's more about "prove to us how it's a problem and our fault". We've seen so many articles on SIM swap fraud paired with internet banking yet most banks still rely primarily on OTP to cellphones for authentication.
 
Remembers debit order fraud :erm:

Much easier than trying to hack into servers etc
 
Debit order fraud is so easy. The systems at work have a link to FNB. I could put my banking details into a DO of every client of our clients and then debit order my own account etc etc. I could do a monumental tangle of records that by the time they have it figured out I would have shifted the money and disappeared.

The great security protecting everyone from this - a username and password for SFTP. Pathetic. It takes them days, if not weeks to query the central server. By the time fraud occurs the people are long gone.
 
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