New twist in Absa data breach saga

Absa Kenya CEO Yusuf Omari The Absa data breach saga has taken a new twist after the controversial bank went to court under a certificate of urgency after a ruling Judge suspended the execution of a court order requiring the besieged bank to compensate a transport firm Sh1.5 billion for allegedly leaking its confidential financial information to third parties. The order for the compensation was issued after the bank failed to defend the case filed by the transport firm claiming damages for loss suffered due to the financial institution’s alleged action. In the suit the company, which transports clinkers from Kenya to Tororo Uganda for the manufacture and processing of cement and other related products, accused the lender of financial sabotage and disclosing its financial statements to strangers without consent. The firm alleged that the bank failed to maintain the secrecy of the client’s account by printing the client’s financial statements without authority or consent and sharing the same with strangers without its express consent. https://nyakundireport.com/kenyans-to-hold-protest-against-absa-bank-over-costly-data-breach/ Last week, a group of concerned stakeholders made public their plans to hold a demonstration against Absa Bank Limited following the costly data breach. Addressing the Mombasa County Police Commander, the civil society group named Capital Youth Caucus Association (CYA) sought permission to proceed with the said peaceful exercise on Monday 21st November 2022. Reports indicate that the protest never happened after the controversial bank compromised authorities. “ABSA Bank should stop selling customer information and bank statements, they should stop asking for kickbacks and bribes from small businesses to get loans,” the letter dated Friday, 11th November 2022, read in part. A mere search on Google proves that data breach controversies have rocked Absa with millions of South Africans being affected as early as this year with no concern from the bank showing that it is part of their DNA. As Absa buys time to compromise the justice system, it will be interesting to see how things pan out.