Woman fights Vodacom and ABSA after R2 million stolen from her account

Ockie said:
I blame the banks. Use the same system that Capitec uses and this problem goes away completely.
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I did think about it but would that just not mean that there will be a influx of new "tokens" issued and then the same problem again.
 
now that there is an investigation, all those customers must get their money back. with interest. i have no sympathy for banks and mobile operators. they take you for a ride with their fees, then when something goes wrong and you get robbed theougj their negligence, they blame you and say you fell for a phishing scam, which is very difficult for you to prove otherwise.

they make all the money, and you incur all the losses.
 
Ockie said:
I blame the banks. Use the same system that Capitec uses and this problem goes away completely.
Click to expand...

erm... why support the bank that the crooks use (read the article again)?

ABSA and Vodacom refuse to release information about the incident
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I wouldn't touch either of these two with a barge pole after that move.

So why is Jannie van Zyl silent now that we need his opinion?
 
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Easter Bunny said:
now that there is an investigation, all those customers must get their money back. with interest. i have no sympathy for banks and mobile operators. they take you for a ride with their fees, then when something goes wrong and you get robbed theougj their negligence, they blame you and say you fell for a phishing scam, which is very difficult for you to prove otherwise.

they make all the money, and you incur all the losses.
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I assume you're not posting from some remote antarctic island via Satellite? :)
 
Marsport said:
erm... why support the bank that the crooks use (read the article again)?


I wouldn't touch either of these two with a barge pole after that move.

So why is Jannie van Zyl silent now that we need his opinion?
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The crooks know their money is safe with Capitec. And transfers to and from Capitec and other banks clear faster. And they can withdraw their stolen cast from any ATM with their Capitec card for R8 fee.
 
How is Capitec to blame? It could very well have been a Standard Bank or FNB account also. The problem lies with the banks that relies on old methods of authenticating logings. Finished and klaar.

Marsport said:
erm... why support the bank that the crooks use (read the article again)?


I wouldn't touch either of these two with a barge pole after that move.

So why is Jannie van Zyl silent now that we need his opinion?
Click to expand...
 
I hope she takes them to the cleaners, I am gatvol of banks and cell providers not accepting any liability or even assisting with investigations because it'll prove the corruption inside the banks and cell providers.

Sounds very very similar to the anc doesn't it?
 
Can we find out whether Capitec released information about the criminals who received this stolen money?
 
Just a note. Vodacom have implemented measures to try and stop this kind of nonsense that the banks have created and is not fixing by not moving to app authentication. At store level, a sim swop has to be authenticated by two staff members before it will go through on the system. The sim swop no longer goes through immediately. The system will first send a SMS to the number that the sim swop is being performed on and then pends the sim swop for two hours to give the customer time to contact customer care if the sim swop was not requested by them.

Yes, I think Vodacom should assist in anyway they can with the investigation, but if the banks took their head out of the sand and moved to a system like what Capitec uses, then this whole problem would go away pretty much. That is why I am saying I blame the banks for this. They are the ones creating this loophole and does not seem interested at all in fixing it, even though the solution is pretty darn simple.
 
Bank and cell company silence in the media doesn't necessarily mean they're doing nothing. In fact, any responsible org wouldn't comment in the media about the particularities of any case. They owe the affected customer answers, but not us.
 
Arthur said:
Bank and cell company silence in the media doesn't necessarily mean they're doing nothing. In fact, any responsible org wouldn't comment in the media about the particularities of any case. They owe the affected customer answers, but not us.
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Not interested in the media's take, I'm interested in whether the victim and their legal team had access to information to find and prosecute the guilty party and perhaps recover the funds.
 
Ockie said:
Just a note. Vodacom have implemented measures to try and stop this kind of nonsense that the banks have created and is not fixing by not moving to app authentication. At store level, a sim swop has to be authenticated by two staff members before it will go through on the system. The sim swop no longer goes through immediately. The system will first send a SMS to the number that the sim swop is being performed on and then pends the sim swop for two hours to give the customer time to contact customer care if the sim swop was not requested by them.

Yes, I think Vodacom should assist in anyway they can with the investigation, but if the banks took their head out of the sand and moved to a system like what Capitec uses, then this whole problem would go away pretty much. That is why I am saying I blame the banks for this. They are the ones creating this loophole and does not seem interested at all in fixing it, even though the solution is pretty darn simple.
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Which nonsense did the banks create? An insecure authentication structure or a weak internal set of checks and balances to prevent sim swap fraud? At what point do Vodacom come to the party, and where are the Cell C and Telkom stories like this? Not saying they're not susceptible to the same thing, but pointing out that this is as much an inside bank job as it is an inside Vodacom job.
 
Ockie said:
Just a note. Vodacom have implemented measures to try and stop this kind of nonsense that the banks have created and is not fixing by not moving to app authentication. At store level, a sim swop has to be authenticated by two staff members before it will go through on the system. The sim swop no longer goes through immediately. The system will first send a SMS to the number that the sim swop is being performed on and then pends the sim swop for two hours to give the customer time to contact customer care if the sim swop was not requested by them.

Yes, I think Vodacom should assist in anyway they can with the investigation, but if the banks took their head out of the sand and moved to a system like what Capitec uses, then this whole problem would go away pretty much. That is why I am saying I blame the banks for this. They are the ones creating this loophole and does not seem interested at all in fixing it, even though the solution is pretty darn simple.
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The lady in the article gave specific instructions to vodacom who didn't comply.

2 hours is not long enough. What if you are on a flight? In a movie? In a location where cell phones are not authorized.

And there was a recent article that vodacom may have been infiltrated....
 
crackersa said:
The lady in the article gave specific instructions to vodacom who didn't comply.

2 hours is not long enough. What if you are on a flight? In a movie? In a location where cell phones are not authorized.

And there was a recent article that vodacom may have been infiltrated....
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Point is Vodacom have implemented procedures to try and curb it. Two hours might not be enough, but what if you lost your phone or it was stolen and you come to us for a sim swop. Are you going to be happy when you tell you that the system is going to keep back the sim swop for 8 hours for security reasons? No, you are not going to be happy. At the end of the day, the solution to this problem is implemented and working well with Capitec. There is absolutely no reason why the other banks cant implement the same. The responsibility lies with them to safe guard their customers and the money kept in those accounts. Vodacom is a telecommunications company. Not a bank security provider.
 
So because some clients don't understand the implications and whine like children, mobile operators should put everyone at risk of fraud?
 
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