If you ask Seth, switching from Nedbank to FNB was one of the shrewdest things he’s done in recent times.

Even if you don’t ask him, he’ll go ahead and tell you.

Not that Nedbank is the only bank that suffers from public backlash, as the results of BrandsEye’s 2019 South African Banking Sentiment Index make clear.

Leaving that behind, because it’s a different decade and all, Nedbank would have been hoping for 2020 to bring with it good news.

MyBroadband with why that isn’t quite panning out:

Nedbank announced that it has discovered a security breach at Computer Services Ltd, a third-party service provider which issues SMS and email marketing on behalf of the bank.

“A subset of the potentially compromised data at Computer Facilities included personal information (names, ID numbers, telephone numbers, physical and/or email addresses) of some Nedbank clients,” the bank said.

The security breach was discovered during a routine monitoring procedure, and once the bank became aware of it, it immediately conducted an extensive investigation.

A full 1,7 million clients have been affected, of which 1,1 million are classed as active.

In the breach, clients’ names, ID numbers, telephone numbers, physical addresses, and email addresses were compromised.

I wonder if this means customers can expect a slew of spam emails, SMSs, and robocalls to be headed their way.

Here’s Nedbank chief executive Mike Brown:

“We regret the incident that occurred at the third-party service provider, namely Computer Facilities (Pty) Ltd and the matter is receiving our urgent attention. The safety and security of our clients’ information is a top priority…

“We take our responsibility to protect our client information seriously and our immediate focus has been on securing all Nedbank client data at Computer Facilities (Pty) Ltd, which we have done.”

“In addition to this, we are communicating directly with affected clients. We are also taking the necessary actions in close cooperation with the relevant regulators and authorities,” he said.

The bank has cautioned clients to be especially vigilant with regards to any potential fraud attempts, whilst stressing that their bank accounts are not at risk, and no action is required on their part.

Well, I can think of one action that might be worth looking into.

[source:mybroadband]