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Pensioner loses more than R150k in three days

Pensioner loses more than R150k in three days

TimesLIVE17 hours ago
'The complainant's money was transacted at an ATM through large transfer amounts. The matter is still under investigation and no suspect has been arrested yet,' he said.
Standard Bank spokesperson Ross Linstrom said their investigation confirmed the transactions were card-not-present purchases, which require the card number, expiry date and CVV, with OTP verification.
'These transactions were authenticated via messages sent to the client's mobile phone. This suggests the client's card details were compromised and the purchase was confirmed using OTP sent to the client. The transactions were conducted online,' said Linstrom.
He urged clients to be vigilant and never share sensitive banking information such as PINs, card numbers, expiry dates and CVV numbers with anyone.
Johan Brouwer, the NFO's manager of adjudication in the banking division, also confirmed they had received Mokgapa's complaint.
'We are awaiting a formal response to the complaint from the bank involved whereafter the case will be allocated to an adjudicator for investigation. The complainant will be notified once the formal response has been received and provided with the contact details of the adjudicator who will handle his case,' he said.
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