Today's Big Stories

'Huge onus on financial institutions to FICA clients properly'

There is a growing impetus for commercial banks to know their clients amid online banking fraud and phishing attacks.

The Financial Intelligence Centre Act (FICA) requires banks to ensure that the personal information of all their customers is up to date.

ENS Africa's Steven Powell says that banks have a big responsibility to prevent fraud by doing the FICA process properly.

Listen to the full conversation from CapeTalk's Breakfast with Kieno Kammies:

There is a huge onus on financial institutions to FICA clients properly.

Steven Powell, Forensics Director at ENS Africa

At the same time, South African Banking Risk Information Centre (Sabric) suggests that banking clients become more aware and arm themselves with as much knowledge as possible to prevent falling victim.

Sabric CEO offers some advice for customers wanting to protect themselves and their bank accounts.

Listen to the full conversation from CapeTalk's Breakfast with Kieno Kammies:


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by NEWSROOM AI

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