Why has it taken banks so long to take action against illegal debit orders?
Tag - fraud
During tough times, it’s not uncommon for businesses to go bust as they battle to make ends meet. What are your rights when a company goes bust after you parted with money for a service or product?
As access to banking services through digital channels continues to grow, so does the need to protect consumers against the prevalence of online banking fraud.
Banks have several internal mechanisms that can help them identify card fraud, often reversing a fraudulent transaction before you're even aware of it.
Fraud is one of the greatest threats to businesses, with smaller business entities more prone to becoming victims of fraud, as they often lack the staff numbers to put clear task segregations in place.
There are many fraudsters pretending to be credit providers and asking for money upfront, only to disappear once they have your money.
Absa is the first bank to allow customers to reverse unauthorised debit orders online.
Concerns about SARS eFiling have been raised in the first annual report issued by the Office of the Tax Ombud. In several cases bank details were changed on the eFiling system resulting in a refunds being paid into a third-party bank account. In other cases fraudulent eFiling profiles were opened under tax payers’ names resulting in fraudulent...
With tax filing season upon us, the annual tax-related cyber-fraud feeding frenzy has begun, warns Jonas Thulin, Security Consultant at Fortinet. “The Receiver of Revenue, financial institutions and security firms have been issuing the same warnings every tax season for years. Amazingly, nothing has changed and people are still being...
When Jurie Pohl discovered that fraudulent debit orders amounting to R12 000 had been deducted from his bank account over five years, he became the latest victim of a financial crime where syndicates are deliberately using the debit order system to commit fraud. Walter Volker, head of Payments Association South Africa (PASA) and author of...