ConCourt narrows rand-rigging case but keeps key claims alive
The Competition Commission failed to revive most claims against the banks, but the judgment clarifies the legal framework under which the remaining case will proceed.
Nedbank
Banking complaints surge as fraudsters follow customers online
Complaints to the banking ombud jumped 25% in 2025, with phishing, account takeovers, and unauthorised transactions leading the way.
SCA settles conflicting views on jurisdiction for ‘shortfall’ claims
The SCA rules that section 127(8) of the NCA empowers Magistrates’ Courts to hear these claims, but it does not bar High Court proceedings.
High Court: credit providers must get section 129 notices right
A subsequent, corrected section 129 notice cannot cure defects in the original notice once summary judgment proceedings have begun.
Allan Gray wins appeal over imitation of ‘Human value of time’ concept
Nedbank’s TV commercial – featuring the tagline ‘Time is more valuable than money. Spend it wisely’ – appropriated Allan Gray’s proprietary advertising goodwill.
MPs push for deeper financial sector transformation
The Finance and the Trade and Industry committees will engage with roleplayers from across the sector before finalising a report that will be tabled in Parliament.
BHI Trust: R12.4 million recovered, R1.5 billion still at stake
The joint trustees have managed to recoup R12.4m, but R1.5bn remains in claims. The efforts to recover funds through settlements, asset recovery, and legal action continue.
Nedbank’s fuel rewards advert is misleading, says ARB
A client complained that she couldn’t earn Greenbacks rewards at a BP filling station because it does not accept American Express cards.
Allan Gray lodges complaint over ‘imitation’ Nedbank advert
Allan Gray argued that Nedbank’s ‘Time is more valuable than money’ campaign infringed upon its intellectual property.
Black Friday 2024: South African shoppers go digital amid record spending
Consumers defied economic pressures this Black Friday, with banks processing billions in transactions and setting new records. Digital payments took centre stage, highlighting a significant shift in consumer behaviour.
How consumers feel about the country’s big retail banks
One digital bank emerges head and shoulders above the rest in the 2024 South African Banking Sentiment Index.
Bank fraud: FICA doesn’t create a private law right to third-party damages
A couple who were victims of business email compromise argued that FICA imposed a private law duty on Nedbank to protect them from financial harm.
Tribunal rejects adviser’s defence in confidentiality breach case
The adviser said she shared the client information to prove her remuneration when applying for a job with a competitor.
BHI Trust fallout: beneficiaries reluctant to return millions amid sequestration scrutiny
Investors’ money was allegedly funnelled through offshore trust accounts and ‘cleaned’ via extensive gambling activities by ‘close and related-party enablers’.
OBS reports record high complaints in 2023 as it transitions to NFO
The Ombudsman for Banking Services was kept busy with complaints about current accounts, loans, savings accounts, credit cards, and home loans.
‘State capture transactions’: Nedbank to pursue counterclaims
Transnet and the SIU institute legal proceedings against Nedbank to set aside interest rate swaps that occurred when the SOE was advised by Regiments Capital.
What the SARB is waiting for before it starts cutting the repo rate
Headline inflation softened to 5.2% in April, but the upside risks remain, particularly from food prices.
