South Africans demand bank reimbursements for cyber-fraud losses
A petition calling on Finance Minister Enoch Godongwana to introduce a mandatory reimbursement policy for victims of bank fraud has gained traction as concerns mount over the devastating financial impact of cyber-fraud on ordinary South Africans.
The petition calls for banks to be obliged to reimburse victims who lose money through fraudulent and unauthorised transactions.
It comes against the backdrop of cases such as that of 38-year-old Abigail Jooste, who was sentenced in the Plettenberg Bay Regional Court to an effective 10 years’ direct imprisonment after defrauding an elderly couple of more than R94 000 after manipulating the elderly couple into trusting her with confidential banking information.
The case has again raised questions about how vulnerable consumers, particularly the elderly, are targeted through banking scams and how difficult it can be to recover stolen money once fraud has taken place.
