1 reviews | Active since Mar 2021
Security breach at Investec shows a bank who sides with online merchants tricking clients
I have an Investec private bank account. Over a month ago I saw some charges go off my account. Two amounts of USD for $5 and $228. I didn't recognise the charges so I contacted Investec ***** department. After investigating they came back to say that the amounts were authorised by me, using a digital signature and my email address as proof. The amounts were for a subscription that I have never used. The subscription appears to have been undertaken from my work laptop during the week, when anyone could have access to my laptop. I want to clarify that just because someone has access to your laptop or email addresses does not mean that it is you. Investec ***** department, without doing anything thorough investigation or asking relevant questions accept *****ulent merchants who routinely trick people into subscriptions without knowledge or consent. Investec ***** department have told me that they trust what the merchant says and will authorise the charges of up to R4500 for a subscription that I've never used. There is something disturbing when a bank sides with dubious online merchant and fails to uphold the integrity of the Investec cheque account. This is clearly not only a security breach but an indicator that the Investec brand is weak and cannot be trusted. I have authorised my private banker to immediately advise me on steps that I can take to close my Investec accounts.
