As informed by Currencies Direct, Bidvest Bank suffered a data breach that resulted in the leakage of some of its customers' account information.
According to information provided by South African-born Currencies Direct director Graham Barratt to MyBroadband , last week Bidvest Bank said that an “isolated incident” linked to its online banking platform exposed sensitive customer information , including names, account numbers and bank balances
Bidvest Bank became aware of the problem in early September and corrected it a few days later.
A Bidvest Bank spokesperson told MyBroadband that they investigated the issue and their evidence shows that the incident was neither a security breach nor a technical security flaw.
“It was an isolated incident in which an individual appears to have accessed data due to a manual processing error,” said a Bidvest Bank spokesperson.
"This has since been corrected and the necessary internal measures have been taken."
Currencies Direct customers then received a notification of a “data breach” at Bidvest Bank.
Barratt told MyBroadband that they were informed of the data breach by Bidvest Bank on Friday, November 9 – around two months after it was discovered.
“No direct trading systems have been compromised and we are currently working with Bidvest Bank to fully understand and remediate the impact of this incident,” Barratt said.
MyBroadband asked Bidvest Bank about the data breach, but it did not respond to this question.
It also would not comment on whether it followed the Privacy Protection of Personal Information (POPI) Act after being notified of this data breach. Instead, Bidvest Bank told MyBroadband that it “has nothing further to add at this point.”.
