Standard Bank - ***** on my Account

<p>On 19 April I was making an on-line payment and received the usual OTP from Standard Bank which I dutifully entered only to get 3 more in succession - silly me - I even joked with the people in my office that the bank were upping their security measures and finally my payment went through and I was a happy girl. I received the sms confirming my payment and a few others at the same time and did not read them all (not bright I know but who does we get that many) and a day later on the 20 my daughter used my card to pay for something and when I received the sms I noticed that my account was close to my overdraft limit which was unusual and on investigation I realised that someone had hacked my account using the OTP system (the report from the bank confirms this) they changed one of my beneficiaries and stole an amount of R16 101.22 from my account.</p> <p> </p> <p>I reported all of this to the bank who have admited that this is indeed what happened - the first lady I spoke to when I reported the ***** actually told me that she could see that someone called Ncululeku had accessed my account and the time and this person did all of this but that because I did not report it immediately the bank was not liable for my loss.</p> <p> </p> <p>I have now escalated this to "Executive Complaints" but I am not expecting much from this course of action as the call centre / ***** division basically told me that "sorry The bank will not refund you your money and No we don't have insurance for this kind of thing"...</p> <p> </p> <p>How is this right - we put our money in the bank to keep it safe and when something like this happens and I get an sms from them with a OTP (all sms's came from the usual number I get all my OTP passwords from) why would I suspect that anything was amis.</p> <p> </p> <p>I can't believe Standard Bank is being so dismissive with claims of this nature. Can anyone advise me what else I can to do to hold them accountable for this glitch in their system... as I am sure I am not the only person this has happened to.</p>