Hole in the firewall

September 30, 2022

At midnight, some unknown person obtained data from my ATM card and by using my internet banking facility, transferred Rs61000 to AGODA.com through four different transactions. As per bank SOPs, I lodged a complaint at my bank branch. I was shocked at how easily someone was able to steal my hard-earned money from a, supposedly, reputable and secure bank. I received no call and no OTP (one time password), which is a system requirement for transactions involving fund transfers, during the illicit transfers.

This is undoubtedly a system security breach. Banks must ensure that their security systems are up-to-date and fool proof; too many of these incidents and customers will lose their trust in the bank.

Engr Asim Nawab