We are Not Hacked: Centenary Bank Opens Up On ATM Breach

Centenary Bank, store clinic the country’s leading private financial institution has opened up on a recent breach on its Automated Teller Machine [ATM] system that saw customers lose an unspecified amount of money from their accounts.

Yesterday Chimpreports broke this story, page search following a lead from one of the Bank’s employees that the system has been compromised by suspected ATM fraudsters.

The breach was reported during the just concluded independence weekend, about it when customers started getting notifications of unauthorized withdraws from their accounts.

In response, the Bank yesterday deactivated all customers’ ATM Personal Identification Numbers [PINs] and asked them to set new ones. Those who wished to withdraw larger sums were advised to go to their nearest branch, where they would be helped at no cost.

Perhaps envisaging possible further losses, the bank also reduced the withdraw limit at the ATMs to Shs 100,000 down from 1,000,000. The limit has since been returned to normal and all transactions are currently normal.

Addressing press at their headquarters in Kampala today, Centenary Bank’s Managing Director, Fabian Kasi hastened to dismiss the reports that their system was compromised by fraudsters.

He said that the bank yesterday received complaints from 25 customers who reported inconsistencies on their accounts.

“We conducted preliminary investigations and found out that this could have been as a result of our system upgrade that the bank regularly undertakes to improve its services to its customers,” he said.

Long queues at the Main Branch. Most customers are currently accessing their cash over the counter

Long queues at the Main Branch. Most customers are currently accessing their cash over the counter

“One of Centenary Bank’s strengths is its ability to quickly detect risks and work on them instantly to avoid loss. We wish to reaffirm to our customers that their deposits are safe and our operations are ongoing normally,” added.

Chimpreports was unable to verify an insider’s allegation that the bank’s preliminary investigations into the matter earlier this week landed on some ‘half cast’ people who were caught by CCTV cameras suspiciously withdrawing large amounts of money.

According to a recently released police report, Commercial Banks facing these kinds of attacks are hesitant to report to police for fear of losing their clients. They prefer compensating the affected customers.

Meanwhile, Centenary Bank customers in all 63 branches around the country who haven’t changed their PINs are still accessing their money over the counter.

As a result, abnormal queues have formed in most of the banking halls.

Mr Kaasi revealed that more staffs have been deployed as well as the necessary equipment to cope with the long lines.

During the press address, Mr Kaasi owned up to the fact that Centenary Banks is currently facing human resource challenges, trying to cope with the fast growing customer base.

He advised the customers to make use of  other faster and safer windows to access their accounts such as the bank’s mobile banking service named CenteMobile.



Header advertisement
To Top