First National Bank is the latest financial institution to be hit by a systems breach at online payment service provider, PayGate.
After notification from the Payments Association of SA (Pasa) regarding the data loss at PayGate, the bank said it ring-fenced the affected FNB accounts to protect its customers.
“We will ensure that no FNB customer suffers a loss as a result of the incident. We have been replacing cards where we believe there is a risk that the account information has been compromised. The replacement of cards affects a very small portion of our customers. We are taking this step as a precaution to ensure that data stolen cannot be used for illegal transactions.”