The Australian banking system has been rocked by a mystery security breach which caused the immediate cancellation of over 10,000 cards on Friday. The Commonwealth Bank and the St George Bank initiated the alert via SMS to customers notifying them that their cards would be cancelled as part of precautionary measures.
The Commonwealth Bank said in a statement that it was alerted to comprised security for credit card data following the report of a potential data breach by an undisclosed Australian merchant (serviced by another bank). However, none of the affected banks have revealed the cause or detailed the exact nature of the security breach.
The Commonwealth Bank has cancelled 8,000 cards while Bendigo Bank has also reportedly cancelled 2,300 cards. Westpac and the National Australia Bank (NAB) alerted customers of the fraudulent activity but said that only a small amount of customers - fewer than 1,000 - had been affected.
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