Banking Archives -

Investigators report on VBS: The great bank heist

PBM_Admin

15 Oct 2018 0

A SARB Statement The South African Reserve Bank (SARB) received the forensic investigation report into the affairs of VBS Mutual Bank (VBS) from Advocate Terry Motau SC on 5 October 2018. This report was in pursuance of Advocate...

How black professionals are building a new mutual insurance operation

PBM_Admin

27 Jul 2018 0

A group of black professionals organised as KCB and largely known for their ambition of establishing a cooperative bank are also working on a mutual insurance operation titled KCB Life. They promise to take the market...

Explainer: who will be doing what under South Africa’s new ‘Twin Peaks’ model

PBM_Admin

9 May 2018 0

Andrew Schmulow, University of Western Australia South Africa has started implementing a new regulatory regime for the financial sector. Known as Twin Peaks, the approach was first adopted in Australia in 1998. South Africa has become...

MTN and Ecobank partner to create Africa’s largest digital banking activity

PBM_Admin

11 Apr 2018 0

Ujuh Reporter MTN and Ecobank have signed a memorundum of understanding (MoU) which promises to create the largest digitalised banking activity on the African continent. The deal leaves one to wonder about the future relations of...

The Prudential Authority starts operating in April: What it means

PBM_Admin

19 Mar 2018 0

Ujuh Reporter South Africa’s new and broadened financial regulator, the Prudential Authority, starts operating on 1 April 2018 and will have material impact in the world of cooperative banking institutions amongst others. The Prudential Authority comes to...

Explainer: What is curatorship and how does it work in banking

PBM_Admin

18 Mar 2018 0

Jannie Rossouw, University of the Witwatersrand The South African Reserve Bank has placed a small bank – VBS Mutual Bank – under curatorship. The decision was based on concerns that the bank was facing a liquidity...

Kganyago: On why the Reserve Bank sent VBS Mutual Bank into curatorship

PBM_Admin

13 Mar 2018 0

VBS experienced increasing liquidity challenges over the last 18 months. These problems emanated from a failure of the board of directors and executive management to manage the mutual bank’s rapid growth and its funding and liquidity...

The Viceroy note on Capitec: Read the unedited executive summary

PBM_Admin

30 Jan 2018 0

Ujuh Reporter South A frica’s new kid on the banking block, Capitec, has come under attack from Viceroy Research, a US based investment research house that is known to target businesses with questionable accounting practices. The...

Is the R14 million student liable: What does the law say?

PBM_Admin

30 Aug 2017 0

PBM South Africa is running abuzz with questions around mistaken bank deposits after a student is said to have accidentally received R14 million in her bank account. The student from the Walter Sisulu University is reported...

South African Reserve Bank says Public Protector is overreaching

PBM_Admin

20 Jun 2017 8

The remedial action prescribed by the Public Protector, Busisiwe Mkhwebane, in the Absa/Bankorp matter falls outside her powers and is unlawful. A statement by the South African Reserve Bank The Public Protector yesterday released a report on...

The Public Protector in her own words on the Bankorp/Absa matter

PBM_Admin

19 Jun 2017 6

Public Protector Busisiwe Mkhwebane has found that the South African government acted improperly by failing to recover a bailout of R1.2 billion from Absa Bank. This is money which was given to Bankorp (which evolved into...

How fraudsters sent me into panic after breaking into my business bank account

PBM_Admin

1 Jun 2017 0

Sibonelo Radebe A transaction alert stating that my FNB business bank card had just made a R1597.00 purchase from the online store, Spree, sent me into panic mode on Wednesday night. I knew there and then...

A dead phone can expose you to Sim Swap based banking fraud

PBM_Admin

27 Mar 2017 0

PBM A mobile phone that is switched off for a considerable length of time, say the whole day, amounts to a big banking risk as criminals can use that downtime to do a sim swap and...

Beware of the new scam: Fake Standard Bank call centre agent nearly got me.

PBM_Admin

10 Mar 2017 1

By: Sibonelo Radebe The new banking scam with a caller pretending to be from a bank and alerting me of fraud activity on my account nearly got me yesterday. The fake Standard Bank call centre agent...

Wells Fargo or the Federal Reserve: Who’s the Bigger Fraud?

PBM_Admin

28 Sep 2016 0

By: Ron Paul The Wells Fargo bank account scandal took center stage in the news last week and in all likelihood will continue to make headlines for many weeks to come. What Wells Fargo employees did...

Tag Archives: Banking

Investigators report on VBS: The great bank heist

How black professionals are building a new mutual insurance operation

Explainer: who will be doing what under South Africa’s new ‘Twin Peaks’ model

MTN and Ecobank partner to create Africa’s largest digital banking activity

The Prudential Authority starts operating in April: What it means

Explainer: What is curatorship and how does it work in banking

Kganyago: On why the Reserve Bank sent VBS Mutual Bank into curatorship

The Viceroy note on Capitec: Read the unedited executive summary

Is the R14 million student liable: What does the law say?

South African Reserve Bank says Public Protector is overreaching

The Public Protector in her own words on the Bankorp/Absa matter

How fraudsters sent me into panic after breaking into my business bank account

A dead phone can expose you to Sim Swap based banking fraud

Beware of the new scam: Fake Standard Bank call centre agent nearly got me.

Wells Fargo or the Federal Reserve: Who’s the Bigger Fraud?

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