SIM-swap scam of R884,000 leaves retired couple in crippling debt

ToxicBunny

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Apr 8, 2006
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MTN are liable for some of this, regardless of what they say in my opinion, and ABSA should be liable for the remainder for not using systems..also how did the fraudsters manage to get a personal loan and also transfer such a large amount to a Capitec bank, this should have sent fraud measures screaming all over the place.
 

Pitbull

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Apr 8, 2006
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Time like this I wish I still worked in MTNs Fraud and Revenue assurance department.
 

saturnz

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“Bank staff, including IT support staff, do not have access to customer passwords as these are held in an inaccessible, encrypted database,” said Absa.
what makes it inaccessible? shouldn't a third party express an opinion on that?
 

Kosmik

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Sep 21, 2007
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MTN are responsible but ABSA also as every loan I've ever applied requires FICA so how was that process done, and in 36 hours?
 

mercurial

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Absolutely ridiculous. Do stores not have cameras? How is it possible that they cannot catch these people?
 

Cray

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Scary Stuff...:wtf:

Reading further, how did they get his online password?
 

Pitbull

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I actually think the responsibility of this falls squarely on MTN.

How does a SIM swap happen without determining the true identity of the person requesting the sim swap? I have seen MTN pre-paid sim cards can be swapped without any intervention from MTN at all. It's a few USSDs you use and bang, done. (This gap should be closed as SIM cards are RICAd) There is a way MTN can verify the identity of the person requesting the sim swap to be that of the number owner.

I know Contract sim swaps can only be done in store and with a copy of your ID. The gap here seems to be on Pre-paid numbers.
 

mercurial

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Cant they track the Capitec user it was transferred to?
Yeah...

I actually think the responsibility of this falls squarely on MTN.

How does a SIM swap happen without determining the true identity of the person requesting the sim swap? I have seen MTN pre-paid sim cards can be swapped without any intervention from MTN at all. It's a few USSDs you use and bang, done. (This gap should be closed as SIM cards are RICAd) There is a way MTN can verify the identity of the person requesting the sim swap to be that of the number owner.

I know Contract sim swaps can only be done in store and with a copy of your ID. The gap here seems to be on Pre-paid numbers.
Exactly man. It's crazy.
 

xrapidx

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Feb 16, 2007
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Both companies are scum.

Du Plessis received a phishing email on 5 June 2016 requesting that he update his FICA credentials.
How does the bank know this? :confused:
 

The_MAC

Executive Member
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Oct 11, 2012
Messages
5,135
Yip was about to say the same. BTW the way ABSA handled this was pathetic - absolutely terrible way to treat pensioners that are also their clients.
And they have probably banked with them for their whole life, even before it was called ABSA..
 
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