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Fraud remains a big problem for banking customers (May 2023)

Although banks appear to be making greater efforts to resolve some types of consumer disputes internally, banking fraud related to current accounts and internet banking remains high on the list of complaints to the Ombud for Banking Services South Africa (OBS). Two other categories of complaints, while still relatively low but on the Ombud’s radar, are delays in finalising deceased estates and the collection of debt that has prescribed, or expired. Meanwhile, the OBS managed to recover more than R30 million for consumers last year, about R10 million more than in 2021.

(F) OBSSA Annual Report 2022 Press Release MH rev4-KV-EB-Final[85]
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