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1 reviews | Active since Mar 2013

16 Dec 2024, 14:48

National Financial Ombud is a dead duck

On 3 July 2023, an EFT payment of R9 800 from my ABSA account to a bona fide Nedbank account was *****ulently diverted to a Tymebank account. On the same day, ABSA issued me with a bogus confirmation of payment to the correct Nedbank account. Because of this, the **** went undetected until it was too late to retrieve the monies from Tymebank. I reported this to the National Financial Ombud on 12 December 2023. One year later, and the adjudicator is still unable to resolve this serious breach in banking practice. Firstly he was unable to fully grasp the issue, then he claimed to be waiting for feedback from ABSA. Is the Ombud's office merely a delaying tactic of the banking industry to stall matters until prescription occurs?

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