Guiding consumers since 2009

Payments processor leaks bank details

By Staff Writer

A card payments processor for online transactions experienced a security lapse, which resulted in the leakage of a number of bank card details said the Payments Association of South Africa today.


Walter Volker, CEO of PASA, said that fraud has been perpetrated: “All major banks have had cards compromised. The ones that have been reported on have had limited exposure.” He could not verify the number of people affected by fraud but added: “Card numbers affected have been in the hundreds of thousands while losses have been in the tens of thousands. We have no fixed data yet.”


Name of card processor withheld


Volker added that the card processor’s details had not been released to protect the organisation. He said the decision was made after the company acted swiftly to become compliant. “We are currently working with them and they are being very co-operative and the source of the problem has been stopped,” he said.


What to do if you’ve been a victim of fraud


PASA said it was also working with the banks and credit card schemes to implement immediate measures to block potential exposure of the card data.  “Should fraudulent transactions be perpetrated on any of these cards as a result of the data compromise, cardholders would not be exposed to any losses – as is the case under normal circumstances,” said PASA.


PASA advises consumers to contact their issuing institution directly and immediately if they have any concerns or suspicions of any transactions appearing on their card statements.

Recent Articles

Featured How will your personal information be protected by your insurers?

POPI forces industries to reconsider how they handle client’s personal details. This is particularly good news for sensitive products, such as insurance.  We find out what POPI is all about, and we see how your information will be protected.

How long does it take to change your credit life cover provider?

You have the right to choose your own credit life cover provider. But how long will it take to do this, and is it worth the effort?

Is it risky to pick out your own stocks, or could you stand to gain more?

Investing in the stock market can seem like an intimidating idea. It may seem safer to allow a specialist to manage your investment portfolio than to gamble with your own limited knowledge.

6 Ways you can secure lower interest rates

It’s tempting to be anxious when thinking about credit cards or loan repayments. However, having and living with credit is not a bad thing, if you manage it responsibly and approach it proactively. One way to do this is to secure low interest rates on your credit agreements.

Deals

Hogsback Pensioners’ Special

Price: Available on request
When: Daily
Where: Hogsback

Mangwanani Moonlight Night Spa Package Special

Price: Available on request
When: Until 30 November 2020
Where: KZN, WC, Gauteng

Legacy Hotels Black Friday Special

Price: Available on request
When: Until 30 November 2020
Where: Nationwide


Latest Guide

Guide to debt rehabilitation solutions