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Ok. Got itBe careful of identity theft: Experian SA has shared personal information with a third party pretending to be a legitimate customer of Experian.
We have been advised that Experian SA, a credit bureau, has shared personal information with a third party pretending to be a legitimate customer of Experian. The information shared includes names, ID numbers, telephone numbers, physical and/or email addresses.
Your bank accounts are not at risk. Personal information can create opportunities for criminals to impersonate you but does not guarantee access to your banking profile or accounts – unless you disclose confidential banking details to them.
Clients from all banks, among other credit providers, are impacted by this data breach as it is a credit industry requirement for credit providers to share this information with credit bureau’s such as Experian SA.
Tips on how to be safe:
The safety and security of your information is a top priority. We will continue to monitor suspicious activity on client accounts.
Who or What is Experian? Experian SA is a credit information services agency or credit bureau. As part of its role, Experian SA obtains personal information such as contact information, identification numbers, and credit information from various sources including banks, telecommunication companies and retailers. Experian SA makes this information available to credit providers who use the information to assist in their lending decisions. Experian SA also provides this service to individuals or entities in respect of their own credit history information. |
Did Nedbank give my information to Experian SA? How did Experian SA get my information? Experian SA is a credit bureau. As part of its role, Experian SA obtains personal information such as contact information, identification numbers, and credit information from various sources including banks, telecommunication companies and retailers. It is a credit industry requirement for credit providers, such as Nedbank, to provide this information to credit bureaus. |
How many people are affected? Experian SA’s database includes credit active individuals and entities . The South African Banking Risk Information Centre (SABRIC) has confirmed that information of 24-million individuals and entities across various banks, telecommunication companies and retailers has been compromised. If you have ever had a retail store credit account or applied for asset finance, or a credit card, overdraft or personal loan for example, there is a potential risk that your data was compromised. The security of your information is a top priority for Nedbank, and we think it is prudent to alert our clients to this incident and encourage them to practice vigilance and adhere to normal safe banking practices. |
Is my information included in this batch of info? Yes, there is a chance that your information was included, as Experian SA’s data base includes credit active individuals and businesses. If you have ever had a retail store credit account or applied for asset finance, or a credit card, overdraft or personal loan for example, there is a potential risk that your data was compromised. The security of your information is a top priority for Nedbank, and we think it is prudent to alert our clients to this incident and encourage them to practice vigilance and adhere to normal safe banking practices. |
What information has been obtained? According to Experian SA, no individual credit information has been disclosed (no payment profile information or credit scores were shared). The data includes names, ID numbers, telephone numbers, physical and/or email addresses. |
What can criminals do with personal information? They can do this in a few ways:
If you suspect that your information has been compromised, report it immediately by contacting us on DataProtection@Nedbank.co.za. Report identity theft to the Southern African Fraud Prevention Service (SAFPS) on 0860 101 248 or at safps@safps.org.za |
How did the incident occur? Experian SA alerted the credit industry to an isolated incident involving a request for data under false pretences which resulted information of a number of individuals and entities being provided by Experian SA to the perpetrator. The information included names, ID numbers and contact information. |
Is my Nedbank account safe? Impacted client’s bank accounts are not at risk. Personal information can create opportunities for criminals to impersonate you but does not guarantee access to your banking profile or accounts. We continue to monitor Nedbank accounts for suspicious activity. |
When did you become aware of the incident? Nedbank was notified about the incident on 4 August 2020. |
What has Nedbank done to protect my data since becoming aware of the incident? No Nedbank systems have been compromised, the client data was shared by Experian SA to a perpetrator who requested the information under false pretences. Nedbank will continue to invest in IT security to ensure the safety of customer data. We will continue to monitor suspicious activity on accounts. |
What is the role of Credit Bureaus in Banks credit granting practices? A credit bureau is an agency that collects, and researches contact, and credit information relating to individuals and businesses and makes this information available to credit providers to assist providers in making decisions on whether or not to grant credit. Credit bureaus are not responsible for deciding whether or not a credit provider should advance credit to an individual or entity .They merely collect and synthesize relevant information about an individual or entity, including credit scores, and make this information available to credit providers. Credit providers include retailers, banking and other financial institutions. Experian SA also provides this service to individuals or entities in respect of their own credit history information . For more information relating to Experian SA’s data handling practices, Experian SA can be contacted directly. |
What are the requirements of POPI? The Protection of Personal Information Act came into effect on 1 July 2020 and defines personal information very broadly, to include a wide range of information that can be used to identify a data subject. If there is a data breach, the responsible party, being Experian SA in this instance, may have to inform the affected individuals and the Information Regulator. |
Will Nedbank continue to share my information with Experian SA? Experian SA obtains information from various sources and makes the information available to various credit providers. Nedbank will work with industry bodies to review the approach. |
Who gave Experian SA permission to share my data with their clients? A credit bureau is an agency that collects, and researches contact, and credit information relating to individuals and businesses and makes this information available to credit providers to assist providers in making decisions on whether or not to grant credit. Credit bureaus are not responsible for deciding whether or not a credit provider should advance credit to an individual or entity. They merely collect and synthesize relevant information about an individual or entity, including credit scores, and make this information available to credit providers. Lending institutions include retailers and banking and other financial services institutions. Experian SA also provides this service to individuals or entities in respect of their own credit history information. For more information relating to Experian SA’s data handling practices, Experian SA can be contacted directly. |