Iqbal Survé set-to exposes banks’ flanks
Taken together, the Equality Act, Competition Act and Financial Intelligence Centre Act could put banks in a conundrum when it comes to closing accounts, including those of the Sekunjalo Group
Pity poor Access Bank (previously Bank of Athens). Two years after it opened an account for little-known Sekunjalo subsidiary AfriNat, it is still paying steep legal bills for closing the account just two months later.
Because of that ill-considered move, Access got swept up in Sekunjalo Group’s broad-ranging legal battle against almost all the banks in South Africa...
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