The Banking Ombudsman put R25 735 594.17 back into consumers pockets after resolving 8 008 complaints against banks last year about current accounts, personal loans, savings accounts, credit cards and home loans.
What is even more interesting are some of the complaints about banks highlighted in the report and how the ombudsman resolved them. Consumers can learn from these complaints either to avoid running into trouble or about how to tackle problems based on the principles each case was decided on.
Mobile banking application fraudA consumer fell victim to mobile banking application fraud when a fraudulent SIM swap was conducted on the consumers registered cell phone number. The facts showed that his mobile banking application PIN was reset at the time of the fraudulent transactions.
The Banking Ombudsman considered whether the consumer was negligent or if the workings of the banks mobile banking application PIN reset process itself was unsafe or unsecure. As part of the mobile banking application PIN reset process, only the consumers identity number, cellphone number and debit card number were required.
The ombudsman concluded that the mobile banking application PIN reset process was not safe and secure as no confidential banking information was required as part of the reset process. As such, there was no evidence that the consumer was negligent in compromising any confidential banking information.
