Business

Absa fraud leaves unanswered questions

A week after the first revelations that Absa Internet banking clients had their accounts compromised, mum was the word on what really happened and how the investigation was progressing.

31 July 2003

On 25 June, indications first surfaced that at least three of Absa`s Internet banking clients had been affected by an online attack that logged keystrokes to intercept passwords. The reports were denied by Absa`s internal auditors, but by 17 July the bank was admitting fraud had occurred.

By the time Brainstorm went to print, however, details of what really happened, and how the forensic investigation was progressing, were thin on the ground.

Puzzling questions and serious implications remain. Why was the attack geographically defined, occurring in and around Bellville, just north of Cape Town?

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