Johannesburg, 27 May 2005
First National Bank (FNB) has confirmed it is investigating a case in which an online banking client`s accounts were apparently "cleaned out".
The Sandton-based client - who does not want to be named - claims a fraudster gained access to his online accounts, changed the contact e-mail address and phone number for InContact transaction notifications (which requires a bank card number and PIN), transferred all his funds to another account and successfully applied for overdrafts using his online banking facilities.
He says he discovered the fraud when he found himself locked out of his own online bank accounts this week. The client says he did not fall for the recent e-mail phishing attempts by a Russian syndicate, and has not mislaid any banking cards or ATM receipts.
"A preliminary investigation has been conducted on [the client`s] account and a full reimbursement is being made to the customer, in line with FNB`s online fraud guarantee, which protects customers from any losses in the event of online fraud on their accounts," says Roland Le Sueur, head of FNB Internet Banking.
"At this stage, the investigation is still ongoing and it is too early to comment on any specifics in the case."
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