Postbank forced to replace 12-million bank cards after employees steal 'master key'

Criminal employees steal code and put millions of grant recipients at risk

14 June 2020 - 00:00 By SIPHO MASONDO

The Postbank is having to replace about 12-million bank cards at a cost of R1bn after a major security breach that exposes the personal data of millions of social-grant beneficiaries and other account holders.

The breach resulted from the printing of the bank's encrypted master key in plain, unencrypted digital language at the Postbank's old data centre in the Pretoria city centre...

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