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.
#StandardBank
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 warning to banks over rushed home auction valuations
The judgment strengthens constitutional protections for homeowners by rejecting speculative ‘drive-by’ property valuations used in foreclosure proceedings.
SCA: Bank’s settlement agreements circumvented the NCA’s protections
The Supreme Court confirms that any post-default restructuring of NCA-regulated loans must comply strictly with the Act.
Capitec joins Pick n Pay banking network
While other banks scale back, Capitec is expanding its footprint – joining Pick n Pay’s in-store banking and actively opening new ATMs nationwide.
High Court ruling on crypto exchange control suspended pending appeal
Until the appeal is resolved, the operation of the exchange control rules remains unchanged, and market participants should err on the side of compliance.
Cryptocurrencies outside Exchange Control Regulations, court rules
Legal experts anticipate a legislative response to plug the loophole and safeguard against large‐scale capital flight via digital assets.
Former financial planner’s debarment over client loans upheld
The Tribunal confirmed Standard Bank’s decision to debar its representative for borrowing thousands of rands from his clients and failing to disclose his outside business activities.
Bank held liable for R2.1 million paid to fraudulent ‘executor’
A High Court ruling notes procedural failures at Standard Bank’s deceased estates department – highlighting that banks must verify and act only on valid letters of executorship.
High Court slams SARB over R200m block on Steinhoff successor’s funds
Judge finds the Reserve Bank acted without evidence or legal basis in freezing funds Ibex needed to repay offshore creditors.
Tribunal upholds debarments for misusing client information
The decisions show that even thwarted attempts to breach confidentiality signal a critical lapse in integrity.
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.
Prudential Authority fines major bank R13m for FICA non-compliance
Standard Bank’s compliance failures include the untimely submission of suspicious activity reports and neglecting system alerts.
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.
Judge rebukes bank for ‘high-handed’ approach to credit agreement reinstatement
Credit providers must quantify their reasonable enforcement costs promptly to allow for an agreement to be reinstated.
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.
Financial Intelligence Centre must hand over reports on EOH, KPMG, Steinhoff, and Tongaat Hulett
The Equality Court makes an order in an application brought by six natural and juristic persons whose bank accounts were closed by Absa and FNB.
