Old Mutual Money Account – *****ulent Transactions, No Communication, and Total Negligence

On 17 September 2025, at around 03:00 in the morning, a series of five *****ulent transactions went off on my Old Mutual Money Account. All of them were for R368.01 each, processed within seconds of each other, and reflected on my app with a JPY (Japanese Yen) currency reference, which is already suspicious and unusual. At the time, my account had R2,000 available and R952.95 in my locked savings. I had my card safely with me, yet someone was still able to transact on my account which clearly shows a serious failure in Old Mutual’s security systems. The moment I noticed the transactions at around 05:00, I immediately suspended my card on the app and rushed to the nearest Old Mutual branch to log a ***** case. I was given a reference number MASC***, written on a piece of paper by the assistant and I did not receive any email, SMS, or official proof that my case was submitted. I was told the investigation would take 30 days and that during this time, my account would be completely suspended. Those 30 days passed, I returned to the branch only to be told “they are still investigating” with no timeline, no update, and still zero access to my own money. To this day: • I have received no communication from Old Mutual. • Not even a single email acknowledging my ***** case. • No progress update. • No access to the remaining funds in my account. • And no clarity on how JPY-linked transactions were processed on my card that was physically with me. Old Mutual also previously notified customers that they are launching the OM Bank which will mean the Money Account customers would need to move to the newly launched platform, which may have caused vulnerabilities on their side. I am extremely disappointed and frustrated. Imagine if this was my only account or my salary account. How does a bank hold someone’s money hostage indefinitely “until they finish investigating”, especially when the incident clearly points to their own security failure? Old Mutual needs to: 1. Restore access to my account. 2. Refund the *****ulent transactions. 3. Provide written proof of my ***** case. 4. Implement stronger ***** detection and faster communication systems, customers should not wake up to international-origin transactions at 03:00 with no safeguards. This experience has shown extreme incompetence, lack of communication, and very poor customer protection. I am posting this here because Old Mutual has left me with no other channel to get real help or updates.