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 Should you trust your tax practitioner?

You hand over the burden of filing your taxes to your trusted tax practitioner. But who is responsible if there are errors in your tax return?

Your medical aid could be terminated – this is how

If you’re completely honest with your medical aid provider, you may be excluded from certain benefits. We find out what happens when you’re dishonest in order to avoid these restrictions.

Insurance fraud: Syndicates, opportunists, and murderers

We take out insurance to protect ourselves and our loved ones from unforeseen circumstances. But some try to take advantage of the insurance system. We have a look at what insurance fraud is.

Keeping your money safe when travelling overseas

Whether it’s for business or leisure, overseas travel offers you the opportunity to see and experience more of the world. However, it does come with risks, and financial fraud is not the least among them.

Deals

Senior Citizens Discount at Marriott Hotels

Price: Available on request
When: Daily
Where: Worldwide

Happy Days Special at Crystal Rose Spa

Price: R550
When: Until 22 January 2022
Where: Krugersdorp

Clos Malverne Sauvignon Blanc Brut Deal

Price: R634
When: While stocks last
Where: Stellenbosch


Latest Guide

Guide to debt rehabilitation solutions