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Standard Bank (SBK) said on Wednesday that it had found no evidence of internet syndicates or hackers hacking into bank accounts.

It said recent reports had pointed to an alleged new type of internet banking fraud in the local banking industry. But it said at this stage of the investigation it could “conclude that there is no evidence to suggest that a syndicate or new scam is currently active in South Africa”.

“Standard Bank would like to stress that these are isolated incidents and confined to a handful of individuals,” it said in a statement.

It confirmed that several customers had reported suspicious prepaid transfers on their accounts whereby funds were transferred to a pre-paid cellphone account.

However, a Standard Bank internet security team had physically examined several customers’ computer and found no malicious software, it said, adding that investigations were ongoing.

Don’t share personal credentials

Herman Singh, Director Architecture and Technology Engineering, said there is no evidence of an organised syndicate being involved in these incidents.

“At this stage of our investigations it would seem that the customer’s personal credentials have been compromised to somebody that they may know. Customers should be vigilant, and not share their personal credentials with anybody, be this wittingly or unwittingly.”

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