Banking institutions are set to improve security on their online software. This follows the incident where Absa internet clients were cheated out of more than half a million rand. Some internet security experts have gone as far to say that they are surprised this did not happen sooner. It is not clear as to who exactly was responsible for the losses, the clients or the bank. Some banks have cashed in on Absa’s misfortune. Standard Bank announced that it would provide new security software free of charge to all its existing online customers. They also introduced a pin pad safety device to counteract the keypad logging software used to defraud Absa’s clients. Full Story
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