Your ID number and bank details are sold to scammers for R5

Maybe for once the government can put some decent legislation in place that forces banks to verify the debit order. Now they just don't care as they stand f... all to loose, as there are no consequences for them. Make it law that for any illegal debit order the CEO must go to jail for a year see how quickly they will sort out this issue
 
Well the debit order reversal feature with Absa works great, used it last month and was instant.
 
Now, if only that "other dude" can sort out his house issues, maybe he'll get time to sign off POPIA into law fully. It's way overdue. :erm:
 
My SO was scammed out of R7000 last month. Now we have to wait 30 working days to get the money back. It's really ridiculous, they need to implement a system where at least an SMS is sent out prior to debits going off, then they can give you 48 hours or something to dispute it.
 
Bighit said:
This is scary, so is ABSA bank the only bank that will allow reversals?
Click to expand...

No the others do to but I believe FNB charges R50 and not all have it as part of their internet banking ie: you have to go to a branch.
 
Substandard does it too, you have to pay. I last did it around a year ago, I think I paid R100
 
We going to need OTP pin numbers now to activate D/O's
 
200k x R5.50 per month to reverse debit order - fixing the problem would be cutting into their profits; just like finding a cure for diseases vs managing them for a lifetime.
 
Bernie said:
We going to need OTP pin numbers now to activate D/O's
Click to expand...

I don't see a problem with this. TBH I've been hit last two months with someone else's bond on top of my own and hopefully the bank got a handle on it this month. It's one of those NAEDO ones and nothing to do with me but against my account. *chomp* R8k gone and the day before my debit orders too.
 
This isn't surprising.
Your details shouldn't be sold off for profit and spam.
 
Good that this has been exposed.

It happened to me this year as well - and this is how.

Bank call centre (outsourced) called me - to upgrade my bank account - they verified the following

ID Number
Banking details - which the call centre had
Address

A few days later I was notified by SMS from my bank to come and collect the cards for my upgraded account at the local branch.

ID was re-verified etc.

A week later I noticed a debit order of R99 being deducted off that very same account that was upgraded. I have not used debit orders for 30 years or more.

I went back to the bank and asked them how this person could have obtained my ID number and personal information protected under the POPI act - which only I and the bank had access to?

Also - I asked them how anyone could have activated a debit order without my signature on a debit order approval.

The bank could not answer any of these questions. But they immediately blocked the debit order and I demanded the details of the person whom the payment was going to.

I've never heard of him or his organisation. And of course it was fraud. But the bank did not want to get involved in arresting this person.

Check your bank statements often - you will probably not even notice these fraudulent transactions if you don’t keep on monitoring your accounts.

There is very good reason why I am going to say the following in my specific case:

It was definitely an inside job involving employees in the bank or its call centre which is given proxy to use your banking details. Take care.

I now check my bank statements very carefully every month.
 
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LinuxMan said:
This isn't surprising.
Your details shouldn't be sold off for profit and spam.
Click to expand...

It isn't surprising, yet, when I am reluctant to give over my whole pedigree to a recruitment agency for fear of the information being misused I get shouted and sworn at.
 
3 months ago I was also victim to this. ABSA could do nothing substantial to prevent NAEDO transactions, I could do nothing about NAEDO transactions. "Safer keeping money under mattress," I told them. Had to go to the bank to have it reversed each time.

Eventually had to close my bank account and open a new one. I am sure many NAEDO transactions go through on peoples bank accounts without most people recognising it. (Some NAEDO transactions are legit though)

Pretty disturbing knowing that I have no control over my money...
 
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