Discovery Bank credit cards were affected by a security vulnerability that allowed you to make online purchases without knowing a specific bank card’s CVV.<\/p>\n
The card verification value (CVV) is the set of three digits printed on the back of the card which acts as a security measure when making payments online.<\/p>\n
MyBroadband received an anonymous tip stating that you could type in any three digits for the CVV when buying something online with a Discovery Bank card and the transaction would be approved. It appeared as though Discovery was not checking the CVV to authenticate transactions at all.<\/p>\n
“We detected the CVV issue last week and immediately started implementing a series of steps to correct the issue,” Discovery Bank told MyBroadband.<\/p>\n
“It has been fully resolved and has not led to fraud being been experienced or our clients incurring any losses.”<\/p>\n
Discovery Bank noted that the CVV is just one of the many security features that protect a card from fraud.<\/p>\n
“Other mechanisms in place at Discovery Bank include one-time pin verification, verified by VISA, and using AI to identify transactions that don\u2019t meet a clients’ typical spend behaviour.”<\/p>\n
Business Insider tested the issue on Monday and reported<\/a><\/strong> that in one of the two tests it conducted, Discovery Bank did not require a one-time PIN or another authentication method to approve a transaction.<\/p>\n MyBroadband’s tests indicate that Discovery had fixed the issue by midday on Monday.<\/p>\n “As a world-class digital bank, we\u2019ve put into place unrivalled systems to protect our clients,” Discovery Bank stated.<\/p>\n “We also work in conjunction with multiple parties, including Sabric and Visa, to continually evaluate and enhance our fraud detection and prevention systems and processes.”<\/p>\n MyBroadband asked a Discovery Bank client to test the issue on Monday, and by the time they conducted their test transaction, at around midday, the issue had been fixed.<\/p>\n Not only was their purchase declined, Discovery Bank’s fraud department immediately called the person to check whether the attempted transaction was legitimate.<\/p>\n Discovery Bank asked the person a series of questions to confirm their identity.<\/p>\n The Discovery Bank client told MyBroadband the questions they were asked, but we have decided not to reproduce them here.<\/p>\n Discovery Bank credit cards were affected by a security vulnerability which allowed you to make online purchases without knowing the card’s CVV.<\/p>\n","protected":false},"author":15,"featured_media":285546,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10106,27],"tags":[2354,37072,15844,38880,35,37112,899],"class_list":["post-323350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-security","tag-credit-card-fraud","tag-cvv","tag-discovery","tag-discovery-bank","tag-headline","tag-verified-by-visa","tag-visa"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/323350"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=323350"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/323350\/revisions"}],"predecessor-version":[{"id":323352,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/323350\/revisions\/323352"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/285546"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=323350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=323350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=323350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Fraud detection<\/h3>\n
Now read: Problems with Discovery Vitality cashback rewards<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"