Foregenix fraud invasion report is good news for BankservAfrica

A recent investigation conducted by Foregenix indicates that the Nomad POS solution, a product from BankservAfrica, was not affected by a network intrusion in the processing environment in 2012.

May 13, 2014

A recent investigation conducted by Foregenix, an independent specialised information security, indicates that the Nomad POS solution, a product from BankservAfrica, was not affected by a network intrusion in the processing environment in 2012.

The investigation came as a result of a wide increase in counterfeit and fraud activities between November and December 2012. According to Foregenix’s PFI Incident Response Report, during this time a number of incidents occurred where cards used for purchases at South African merchants were being used in counterfeit card purchases in other territories. These include (predominantly) the US, Brazil and India where magnetic strip transactions are more common than Chip transactions.

The Nomad POS application is used widely in the South African retail and hospitality environments.

In February 2013, Foregenix was engaged to conduct an investigation in this regard, by a consortium of the South African banking industry, led by the Payments Association of South Africa (PASA) and South African banks.

Due to the nondescript nature of the fraud trending, the investigation across the payment path included all prominent payment service providers as an aggregation point within the payment chain.

Foregenix’ initial investigation focused on evidence collection and analysis of primary concentration points, one of which was the Nomad POS solution.

The report states that following extensive analysis of Nomad solution during that period, no indications of breach, compromise or intrusion were identified.

“We are pleased with the outcome of the Foregenix report, and respect the findings,” says Dan van der Westhuizen, CEO of financial and technology solutions, BankservAfrica. “BankservAfrica is committed to maintaining the safety and security of the National Payment System (NPS) and stands by the payments framework it provides for South Africa – as we have done for the last 40 years.”