WENDY KNOWLER: Nightmare at Easter after Capitec’s R130k ‘process error’
Two clients of the bank had their accounts frozen for a week after being wrongly suspected of fraud
14 May 2023 - 11:26
“There are real criminals out there; not us.” So said the man who sold his car privately, and hours later had his account blocked by Capitec, the transaction having “met the strict requirements to classify as fraudulent”.
Clearly, banks are expected to protect their customers’ accounts from being raided by fraudsters, but in doing so they run the risk of prejudicing a client who is not guilty of any wrongdoing, as in this case...
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