The SA Banking Risk Information Centre (Sabric) has confirmed that credit bureau Experian suffered a data attack which ‘has exposed some personal information of as many as 24m South Africans’.

Nearly 800 000 business entities have also fallen prey to a ‘suspected fraudster’, Sabric said, according to a TimesLIVE report.

‘Banks have been working with Experian and Sabric to identify which of their customers may have been exposed to the breach and to protect their personal information, even as the investigation unfolds,’ Sabric said in a statement.

It added that the affected banks would speak to customers about how they may be affected by the breach and what is being done.

‘The compromise of personal information can create opportunities for criminals to impersonate you, but does not guarantee access to your banking profile or accounts. However, criminals can use this information to trick you into disclosing your confidential banking details,’ warned Sabric CEO Nischal Mewalall.

Sabric advised that if anyone suspects that their identity has been compromised, they should apply immediately for a free protective registration listing with the Southern African Fraud Prevention Service (SAFPS).

‘This service alerts SAFPS members, which includes banks and credit providers, that your identity has been compromised and that additional care needs to be taken to confirm that they are transacting with the legitimate identity holder,’ it said.

Consumers wanting to apply for a protective registration can contact SAFPS at [email protected].

Full TimesLIVE report

Standard Bank, the continent’s largest bank by assets, confirmed some of its clients are among victims, while FNB and African Bank also warned their customers to be vigilant.

Business Day notes Experian said no consumer credit or financial information was obtained and that the suspect had planned to use the information to offer insurance and credit-related services.

‘We have proactively stepped up our authentication processes and our fraud prevention and detection strategies to protect our clients,’ Standard Bank said in a statement, adding that it couldn’t give more details because its measures are ‘security sensitive’.

FNB said it was communicating directly with customers that may have been affected while African Bank said although personal details had been accessed, banking details had not. Both warned customers to monitor their accounts for any suspicious activity.

The breach at Experian, which collects credit data about clients from banks and other businesses, came two days after one of the country’s top insurers, Momentum Metropolitan, said it had suffered a data breach, though it said investigations indicate that no client data was accessed.

Information accessed on 13 August included administrative and financial data, it said.

In what was then described as SA’s ‘biggest breach yet’, Liberty Holdings, the insurance company majority-owned by Standard Bank, was hit in June 2018 by what it called ’unauthorised access’ to its IT infrastructure.

The company said then it had refused to give in to extortion attempts by hackers.

Full Business Day report