POSB apologises, regrets employees’ conduct
The POSB was recently sanctioned by the Regulator for breach of confidentiality at its Cash Centre.
The Regulatory Authority issued a press statement on the matter that was widely reported and circulated in the print and digital media including social networks.
Identified staff members were involved in the production and distribution of images of bond notes prior to their official issuance.
The Bank sincerely regrets that conduct and cannot absolve itself from such improper actions. The Bank has taken corrective disciplinary action against the employees involved and has put in place measures to enhance security control systems to prevent recurrence of such behaviour by staff.
Further, the Bank is currently involved in discussions with the Regulator regarding the whole issue.
The POSB Board and Management wish to assure the public of its full commitment to upholding good banking practices and operating in compliance with the law and good corporate governance tenets. Simukayi Mutamangira, Public Relations Manager