Establishing Digital Trust: Don't Sacrifice Security for Convenience
South African payment processor PayGate has acknowledged that an August security breach may have exposed some end users' credit card numbers.
"It follows an admission on Friday (9 November) by the Payments Association of SA (PASA) that private credit card and banking details were leaked during a breach at a company which processes online transactions," Business Technology News reports. "PASA CEO Walter Volker confirmed on Monday (12 November), that the company in question was PayGate, but added that there was no need for undue concern by cardholders."
"It is important to be aware of the fact that the issuing and acquiring banks in the South African payments environment all have very well developed and sophisticated fraud and risk management systems in place, and that monitoring of any heightened levels of potential fraud which might result from this would be a normal activity with no need for additional systems," Volker said in a statement [PDF file].
"PayGate processes credit card transactions for online retailers, including Woolworths," writes The Citizen's Monique Vanek. "Harvey was unable to give out more details for fear of jeopardising the unit’s investigation, but categorically ruled out an internal breach."https://o1.qnsr.com/log/p.gif?;n=203;c=204650394;s=9477;x=7936;f=201801171506010;u=j;z=TIMESTAMP;a=20392931;e=i
"The company also said it did not store personal details like addresses and identity numbers, but did store e-mail addresses," writes IOL Business' Bianca Capazorio. "As such, customers should beware of phishing attacks."
"Although the public has only now been notified of the breach, the company claims that during this time, card associations and financial institutions have been monitoring credit card activity," writes Softpedia's Eduard Kovacs.