The Financial Sector Conduct Authority (FSCA) reports that the technical issue that led to a number of banking clients experiencing duplicated transactions on their accounts late last week, has been resolved. The issue, which was the result of a technical glitch at Nedbank and which affected mainly Capitec bank clients, was resolved without clients suffering any financial losses. The Authority is assured that erroneous transactions have been reversed, including bank costs associated with the transactions.
In the event that any clients have not yet had their accounts restored, the affected clients may approach the banking ombudsman to file an official complaint. As part of the requirements in the FSCA’s Conduct Standard for Banks, the Authority will continue to engage with the banking sector and review their systems and processes to avoid such instances from occurring in the future.
The Conduct Standard for Banks can be downloaded here or visit www.fsca.co.za. The banking ombudsman can be contacted by emailing info@obssa.co.za or visiting www.obssa.co.za.
Enquiries: Financial Sector Conduct Authority
Email address: fscacommunications@fsca.co.za
