Speaking to Weekend Argus from the islands two week ago, Dennison said he was defrauded of R16 000 in savings after Nedbank sent a Random Verification Code - a code entitling someone to add beneficiaries to an Internet banking portfolio - to his cell phone number which had already been swapped by fraudsters.
He believes he has all the necessary documents to prove the bank sent the code to an “insecure” cell phone number.
But the head of Nedbank’s group forensic services, Gerda Ferreira, on Friday said the bank had proactively identified “suspicious access” to Dennison’s Internet banking profile in September and informed him.
Dennison said: “Nedbank claim my PIN and password were compromised by me. I deny this.
I have since established that they sent a Random Verification Code to my cell phone, which had been swapped. This code entitles someone to add beneficiaries to an Internet banking portfolio.”
Dennison said many discussions and much email correspondence with Nedbank, including a senior legal adviser, had been fruitless.
“I have all the emails sent to the bank, including those, unanswered as yet, in which I have asked for an explanation of what the Random Access Code does, and how they can claim security was breached on my side when a Sim-card swap is known to have been performed.”
Ferreira on Friday said: “Dennison was alerted and advised of the procedure to safeguard his account. On two occasions, in September and October, he was issued with a temporary PIN number, which would replace his own PIN and password to access his accounts, as these had been blocked by the bank following the suspicious access.”
Ferreira said Dennison had confirmed to the bank he often used his personal laptop at wireless public Internet facilities to do Internet banking.
He also confirmed he did not have the most up-to-date anti-virus software on his laptop.
“Nedbank makes every effort to protect its clients against online fraud; however, the onus still lies with the clients to keep their PIN number and passwords protected.”She said further investigation by the bank’s group forensics department was being conducted to determine if there was any negligence on Nedbank’s part.
Sim card swaps and online banking fraud are spiraling, despite police busting an alleged nationwide syndicate in
Police arrested 10 people allegedly linked to a Johannesburg-based Sim-swap syndicate in December after the Western Cape Commercial Crime Unit found hundreds of thousands of rand were being moved from victims’ accounts into about 120 beneficiary accounts.
Four of the 10 accused, Nigerian-born Joseph Felix, Patric Mohashoa, Ntombovuyo Ntshoko and Thabo Cyril Nene from
They will all appear in a
But police sources say there could be more syndicates operating in the country’s three major centres.
By Clayton Barnes