Fraud tops SA’s list of banking complaints
Scammers are seemingly working around the clock to create fake copies of bank websites and impersonate bank staff, the ombud warns
Almost 50% of all complaints to the Ombudsman for Banking Services (OBS) in 2018 were fraud related, with internet banking fraud being the top category of complaint, followed by ATM fraud and credit card fraud. This is according to the 2018 annual report released by the OBS, on Wednesday. For a third year running, internet banking fraud has dominated, and in 80% of these cases, the ombud found in favour of the banks. Complaints relating to online banking fraud, ATM fraud and credit card fraud were the top three types of complaints in the previous year under review, too. “We have continued to receive a steady, daily stream of complaints from people who have been victims of fraud and it seems the end of this trend is nowhere in sight,” ombud Reana Steyn says in the 2018 annual report. The report shows that the OBS finalised 1,349 complaints concerning internet banking, 265 (20%) of which went in favour of the consumer. In only 14% of the 1,053 ATM-related complaints finalised in 2018 ...
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