Standard Bank : Statement on fraud complaints

Statement on fraud complaints

Standard Bank continues to receive customer queries relating to potential fraud.

The Bank's fraud mitigation measures are robust and continue to protect and inform customers of any potential fraud on their accounts.

Due to the nature of these incidents, Standard Bank issued a direct fraud notification to impacted customers on 2 July 2024. This contributed to increased call volumes to the Bank's call centre impacting call waiting times. The Bank once again wishes to apologise for any delays experienced and assures customers that it will continue to take steps to protect them.

Standard Bank is aware of further fraud attempts on some international transactions. Our fraud detection systems will continue to actively identify and block any suspected fraudulent transactions and/or affected cards. Any customer whose card has been blocked due to potential fraud will be reissued with a replacement card as is standard practice.

In addition to our call centre, we also encourage customers to use alternative channels such as our App and Internet Banking to report fraud or manage their cards and payments.

Standard Bank will always evaluate each case of alleged fraud on its individual merits to ensure a fair resolution for customers and remains committed to minimising potential financial losses for customers.

We will continue to communicate with impacted customers to address their complaints in line with our zero-tolerance approach towards fraudulent activities.