African Bank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile1 entries
2021
African Bank reports customer data compromised after Debt-IN ransomware attack
Issue disclosure
African Bank reported that personal data of some customers was compromised after its debt recovery partner Debt-IN was targeted by a ransomware attack. The affected data included that of African Bank loan customers who had been under debt review. African Bank said it was notifying affected customers and had enhanced security measures.
Company response
Remediation — Debt-IN
A robust mitigation plan has been implemented by Debt-IN to contain and reduce any further adverse impact
Ongoing disclosure — African Bank
We have notified the relevant regulatory authorities and we are also in the process of alerting customers who have been affected, via email and SMS.
Remediation — African Bank
African Bank’s fraud prevention team has since enhanced security measures to protect all the bank’s customers as a precaution.
Source excerpt
South African retail bank African Bank has confirmed that one of its debt recovery partners, Debt-IN, was targeted by a ransomware attack in April 2021.
At that time, advice from security experts concluded that there was no evidence that the attack had resulted in a data breach, however now reports that Debt-IN has become aware that personal data of certain customers, including a number of African Bank Loan customers who had been under debt review at the time, has been compromised by the threat actors.
We have been collaborating with Debt-IN to address this breach. We have notified the relevant regulatory authorities and we are also in the process of alerting customers who have been affected, via email and SMS.