Flutterwave says that its accounts have not been hacked. that it collaborates with other financial institutions and law enforcement agencies to keep its ecosystem safe and secure.
There had been reports that hackers stole the sum of ₦2,949,557,867, from the accounts of the company and over 300 customers were affected by the incident.
The company in a statement on Sunday, said that it “identified trend of transactions on some users’ profiles” during a routine check, adding that a review of the transactions “revealed that some users who had not activated some of our recommended security settings might have been susceptible.”
Flutterwave however, said that “no user lost any funds,” adding that its “security measures were able to address the issue before any harm could be done to our users.”
The statement reads, “At Flutterwave, we understand that our customers’ personal and financial information is of the utmost importance. We take this responsibility seriously and understand that any potential security breach can cause anxiety and concern among our customers.
“We want to reassure you that Flutterwave has not been hacked. As a financial institution, we monitor transactions through our transaction monitoring systems and 24-hour fraud desk and review any suspicious activity. We collaborate with other financial institutions and law enforcement agencies to keep our ecosystem safe and secure.
“During a routine check of our transaction monitoring system, we identified an unusual trend of transactions on some users’ profiles. Our team immediately launched a review (inline with our standard operating procedure), which revealed that some users who had not activated some of our recommended security settings might have been susceptible.
“We want to confirm that no user lost any funds, and we take pride in the fact that our security measures were able to address the issue before any harm could be done to our users.
“Our commitment to keeping our users’ financial information safe and secure is why we invest heavily in security initiatives such as periodic audits, certifications, and licenses such as the PCI-DSS & ISO 27001. These are in line with global best practices in information security management.
“We want you to continue to trust us and feel secure in using Flutterwave for your business needs. Our commitment is to enable your business growth while keeping your financial information safe and secure.”
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.