The Hawks are investigating the possibility that a syndicate gained access to ABSA clients\u2019 online banking details, and are busy stealing millions from these accounts.<\/p>\n
This is according to an article in the Rapport<\/a>, which said that numerous ABSA clients\u2019 bank accounts were emptied by criminals who gained access to their account details.<\/p>\n In all these cases ABSA said the victims were to blame, because they fell for phishing attacks which exposed their online banking details.<\/p>\n However, many of the ABSA online banking fraud victims dispute falling for phishing scams.<\/p>\n In one case, where R2 million was stolen, the Rapport investigation showed that the theft may have taken place from an IP address located at the ABSA head office.<\/p>\n ABSA denied responsibility, and only refunded the client 50% as a goodwill gesture. She is now suing the bank for the rest of the money which was stolen.<\/p>\n Her case, Rapport said, is part of 36 similar cases which all involved the money being transferred to a Capitec account, and where SIM swap fraud took place.<\/p>\n While the methods used to steal a person\u2019s banking details may differ, the process followed by fraudsters to steal money from online banking users in South Africa is nearly always the same:<\/p>\n In each of these steps the criminals can exploit different weaknesses in the system to achieve their goal.<\/p>\n Government makes a move for Absa<\/strong><\/a><\/p>\n Absa launches banking for Facebook Messenger<\/strong><\/a><\/p>\nHow criminals steal money from your online bank account<\/h3>\n
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