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Credit card, ATM and internet fraud top complaints - Banking Ombudsman

16 May 2019 8:58 AM
Tags:
Banking
Banking ombudsman
Banking ombud
Ombudsman for Banking Services Reana Steyn highlights the top complaints from consumers in the banking sector.

The Ombudsman for Banking Services has released its Annual Report on operations for 2018, and online fraud made up 22% of all cases opened.

CapeTalk's Pippa Hudson speaks to Reana Steyn, Ombudsman for Banking Services.

The credit card fraud issue we raised about a month ago, because we have seen a huge spike this year.

Reana Steyn, Ombudsman for Banking Services

Most complained about issues for 2018 were internet banking fraud and ATM banking fraud, she says.

ATM complaints did drop for 18 to 14% which is a good sign. The warnings at ATMs are helping and consumers are more knowledgeable and don't receive help from strangers - card swapping is still the big issue at ATMs.

Reana Steyn, Ombudsman for Banking Services

The Ombudsman closed 7 300 cases in 2018, 12% higher than in 2017 and 40% higher than the previous two years.

Banking Ombud is a free service.

Reana Steyn, Ombudsman for Banking Services

We are a completely independent office. No one is trying to write an outcome in favour of the bank. We report to independent boards.

Reana Steyn, Ombudsman for Banking Services

Listen to the interview below:

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16 May 2019 8:58 AM
Tags:
Banking
Banking ombudsman
Banking ombud

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