The Zambia National Commercial Bank (ZANACO) PLC has refuted media reports indicating that the bank’s Xapit system was hacked and thousands of its customers lost their savings.
The Bank’s management said in a statement to Money FM that there has been no security breach against their systems.
According to the statement, the bank has invested in security against any breaches.
It adds that the National Commercial bank has embarked on a fraud awareness campaign to educate members of the public against fraud following the increasing fraudulent activities in the industry.
The statement follows a recent article that was published on the Lusaka times online media, under the headline “Zanaco Xapit suffers major hack, thousands lose savings”.
According to a statement responding to a Money FM News Press Querry, “the Bank has invested and continues to invest heavily in the controls and systems that host customer Personally Identifiable Information (PII) as security for our customers is of the utmost importance and is at the centre of our core strategy.”

It says “regrettably, it would appear that some of our customers have yielded to incessant pursuits of cyber criminals and shared their personal banking credentials.”