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25 February 2003
South Africa?s banks have been informed by MasterCard and Visa International that several hundred South African cards were potentially compromised following a security breach at a United States-based card processing company last week.
Standard Bank is currently contacting its 284 clients that were affected to inform them that their existing cards will be cancelled and new replacement cards re-issued free of charge.
Craig Bond, Standard Bank Director Distribution said: "Standard Bank's Card Fraud Prevention team will continue to monitor the affected cards for fraudulent usage, but wish to assure cardholders that all compromised cards have been stopped and this isolated incident should be of no concern to the broader card base."
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