@Rebecca_Davis I just read your article on fraud at banks and it really hit home for me. I bank with Nedbank, and last year R50k was stolen from my account.
Obviously, the bank said they did nothing wrong, so I opened a case with the Ombudsman. I’ve now received their response and, unsurprisingly, they came to the same conclusion as the bank. What frustrates me the most is that neither of them could explain how my password was changed, which is what gave the person access to my account in the first place.
It honestly feels like consumers don’t really stand a chance. When the banks fund the Ombudsman, it’s hard to believe the process can ever be completely unbiased.
I really hope the system changes because right now ordinary people have very little protection or meaningful recourse when things like this happen.