ABSA is turning a BLIND EYE to an R536k *****.... WORST BANK! Please read, you will thank me.!

PLEASE READ THIS TO PROTECT YOUR FUNDS! I AM WARNING THE PUBLIC AGAINST ABSA!

It's been a month since an R536K ***** was committed on all four of my accounts. A total of R336k was ****** from my accounts, with another R200 000 loan taken out after I had stopped and blocked all of my accounts!!! ABSA has the worst security, and here's why:

I would like to start and say that I am traumatized by the ***** that was performed on my accounts, I feel vulnerable and unsafe with ABSA. I feel unsafe due to the fact that the ***** that stole my iPhone have full access to my entire wealth and everything I have built up over years. THIS IS WHY I WANT TO WARN THE PUBLIC!

I would like to inform you on some matters that I think you should know.

ABSA New Account Two weeks before the *****, I went to ABSA to enable my ABSA app for my business and personal accounts on my new iPhone X, a ABSA consultant at the branch then informed me that my personal account was still a student account and that I should change to a premium account that would give me more benefits. I agreed and they told me I should take out an overdraft or a credit card, I then decided on a credit account with a limit of R 40 000. Then a week after, ABSA told me that my credit card was ready for collection, I never went and got the card from ABSA, now the card is still at ABSA branch. Then two weeks after my new account and credit account, my phone got ****** and ***** was performed. This is very suspicious to me. How is my credit card/account active without me even having my card yet???

The ***** payment references The second thing I found very suspicious, is the fact that the ***** used reference names that was corresponding to my business nature such as: “Solar panel”, “Solar Equipment”, “Engineer” etc. This is very weird due to the fact that I have no branding outside of my factory (where phone was ****** from my office). I also have no personnel that works for me. How is it possible that they know this information?

Both my business and personal business accounts A total of R304 468 was ****** out of my business account and a total of R31 800 out of my personal debit & credit account. I would like to know how they were enabled to do such transactions on both my accounts with separate logins and security? How secure is ABSA, if they hacked my personal and business accounts with ease??? All this while ABSA states the following on their website:

“You are protected by our free digital ***** warranty which covers all your digital transactions”

The *120* call This part is a real shock to me, I was informed by ABSA that some of the ***** operations was done through this method that I had no idea even existed. Who enabled this type of banking on my account I never gave permission for this and why would ABSA ever allow a type of banking that isn’t on the ABSA app? To my knowledge, before each payment, a notification is sent to your ABSA app to be approved using your secure login code. This *120* is very unsafe and I can’t believe this is even something ABSA would enable or allow on a business account that does such large payments regularly.

ABSA also informed me that they know how they moved the R28 000 from my credit account to my debit, but they have "NO IDEA" how they took the money out of my debit accounts. This is a concern if not even ABSA ***** department know how they removed these funds from my accounts. This clearly very suspicious.

The ABSA loan ***** 2 days later. This part really confirms the weak security ABSA has! On 22 October, I got a phone call from an ABSA number at 10:18am asking me if I would like a personal loan of R200 000, I immediately said “NO, there was ***** on my accounts” and cancelled the call. Then at 11:24 I got a SMS stating:

“Absa: Thank you for taking up a Personal Loan of R200000.00. Your instalment is R6452.43. View your balance on the App. T&C apply. Auth FSP/NCRCP7”

I immediately called the ABSA ***** line, and we were able to place the funds on hold before the *****/hacker could withdraw the funds. How is this even possible??? I stopped all my internet banking and ABSA app the previous day due to the previous *****s, how can ABSA allow another person to take out a personal loan on my name so easy without me even signing or answering security questions??? This is a big flaw on ABSA’s security!!!

I then also called again and froze/blocked all my accounts that I have with ABSA, since I cannot trust ABSA anymore to protect my funds!

Here is the ABSA ***** case number for this loan *****: Asza-2***6

The three online purchases As mentioned previously, the hacker also moved money from my credit account to my personal debit. The amount moved to my debit was R28 000, but here is the suspicious part again: How did they then do three online purchases of R2500, R2500 and R2000 using my credit account with my Credit Card still being at ABSA branch for collection. The 3 transactions were done at flash.co.za (seen from the bank statement below, why hasn’t ABSA contacted this company and retrieved information from them?

The incompetence of ABSA ***** (Cards not blocked) This section enraged me! I went to ABSA on 14/11/2022 to make some payments that were required to keep my business running (since I suspended all my online banking and bank cards on 21/10/2022 & 22/10/2022).

On arrival, the ABSA personnel at the tellers informed me that my bank cards were not blocked! Why is ABSA so ineffective? On October 22nd, I called the ***** Line to cancel all my ABSA bank cards; this was not done! My card is still active! ABSA continues to demonstrate its incompetence and significant involvement in this case's security flaw!

Evidence of this cancelation will be on the call recording on die 22/10/2022 around 11:30AM. (14/11/2022)

More incompetence of ABSA ***** DEPARTMENT We are dissatisfied with the investigation and communication so far; it took 12 days after the ***** was committed for any ABSA personnel or ***** investigators to get in touch with us.

"We have received your email and one of our skilled ***** specialists will be in touch with you within the next 48 business hours,"

reads the auto-reply from ABSA. We waited 12 and 17 days for a response; why?

Waiting this long while R336 000 (and an R200 000 loan) was ****** from our accounts is unacceptable; this is a serious *****, and we are not getting the necessary feedback or information on it.

The thermology that ABSA ***** is employing raises my next point of concern. They state that the following ***** was committed:

1. "A very well-orchestrated scheme" 2. "Syndicate" 3. "They knew what they were doing"

After hearing all of these explanations, I still don't understand why ABSA isn't paying us back for the money that was ****** because of a ABSA system security flaw.

Another issue is that, 20 days after the ***** was committed, ABSA is still not able to provide us with any information on how these transactions were carried out. The only response I've gotten so far has been, "We don't know how they did it, sir."

Below are the 4 ***** cases opened at ABSA:

1. 1*** 2. 1*** 3. 1*** 4. Asza-2***6

We have only been contacted about 2/4 of these cases up to this point, which is unacceptable. (9/11/2022)

Conclusion on my findings This is clearly a mayor security flaw at ABSA due to the following:

1. Funds moved from a Credit account that wasn’t even active yet. 2. Large withdrawals/transfers that was done out of my accounts without any of my authorization. 3. Three online purchases that was done on my behalf using my credit card (that I haven’t even received yet). 4. A personal loan that was taken out on my personal name without any authorization from myself, after my internet banking and ABSA app was suspended! How is this possible ABSA? 5. ABSA never stopped my bank cards as requested on October 22, 2022; why is ABSA so inept at protecting my funds?

I have made numerous complaints, the ABSA Complaint Centre told me they should've have contacted me after 15 days with updates, it is 30 days now after the *****!!! They ignore all my emails!

Please protect your funds! ABSA is Pathetic!!