FNB height­ens fight against debit order fraud

Inner City Gazette - - Front Page -

In a bid to con­tinue com­bat­ing the scourge of rouge debit or­ders im­pact­ing the in­dus­try and some of its cus­tomers, FNB has waived the fee for stop­ping unau­tho­rised debit or­ders through its elec­tronic bank­ing chan­nels and is also ac­tively clamp­ing down on busi­ness cus­tomers who are fa­cil­i­tat­ing unau­tho­rised col­lec­tions.

Ryan Prozesky, FNB Con­sumer Core Bank­ing CEO, says the is­sue of unau­tho­rised debit or­ders is of great con­cern to us as a bank, given our prom­ise of help­ful­ness and to al­ways keep our cus­tomers’ money safe.

There­fore, we are not pre­pared to sit back and watch our cus­tomers bear the brunt, but will con­tinue tak­ing the lead in iden­ti­fy­ing ef­fec­tive mea­sures and so­lu­tions to pro­tect them.

“We be­lieve that elim­i­nat­ing fees as­so­ci­ated with stop­ping debit or­ders via our elec­tronic chan­nels will em­power cus­tomers to have full con­trol of their bank ac­counts. Cus­tomers will no longer be charged for stop­ping unau­tho­rised debit or­ders of less than R200 through the FNB App, On­line Bank­ing and USSD for those who do not have ac­cess to the in­ter­net and smart­phones,” says Prozesky.

Fur­ther­more, the bank is ac­tively mon­i­tor­ing and analysing non-FNB busi­nesses that are pro­cess­ing il­le­gal debit or­ders on FNB cus­tomers’ ac­counts while tak­ing steps to act de­ci­sively to curb such ac­tiv­ity among its busi­ness clients. Those who are found to be pro­cess­ing il­le­gal debit or­ders will be re­ported to the Pay­ments As­so­ci­a­tion of South Africa (PASA) and the bank will even­tu­ally ter­mi­nate its ser­vices.

“While we are col­lab­o­rat­ing with the in­dus­try to de­velop long term so­lu­tions, in­clud­ing De­biCheck, we see it as our role as a re­spon­si­ble bank to warn and help cus­tomers pro­tect their hard earned cash,” adds Prozesky.

FNB cus­tomers are cur­rently no­ti­fied via SMS ev­ery time a new debit order is raised on their ac­counts for the first time, as well as the amount and the ser­vice provider ’s name, and if they be­lieve it to be unau­tho­rised, have the abil­ity to stop, dis­pute and re­verse it.

“When stop­ping a par­tic­u­lar unau­tho­rised debit order, cus­tomers are able to spec­ify a Rand value or range of amounts to pre­vent debit or­ders from a par­tic­u­lar col­lec­tor to be pro­cessed in the fu­ture. It is ad­vis­able for con­sumers to se­lect a wide Rand value range to make sure that the unau­tho­rised col­lec­tor can­not simply change the Rand value and thereby cir­cum­vent the stop in­struc­tion,” ad­vises Prozesky.

The bank also has a proac­tive fraud­u­lent debit order warn­ing sys­tem which alerts cus­tomers, through SMS or App no­ti­fi­ca­tions, to po­ten­tial sus­pi­cious deb- it or­ders that are cur­rently run­ning. Fur­ther­more, FNB App reg­is­tered InCon­tact users will re­ceive alerts for all trans­ac­tions re­gard­less of the amount.

This gives them full vis­i­bil­ity of all monthly debit or­ders pro­cessed against their ac­counts.

Along with the no­ti­fi­ca­tion sys­tem, FNB has an added func­tion­al­ity on its elec­tronic plat­forms that al­lows cus­tomers to view which cur­rent debit or­ders are run­ning off their ac­count as well as the abil­ity to stop, dis­pute and re­verse debit or­ders that they be­lieve are unau­tho­rised. “Debit or­ders that are higher than R200 can still be stopped, dis­puted and re­versed via our con­tact cen­tre or at any FNB branch, at a fee.

“This is due to the fact that a ma­jor­ity of rogue debit or­ders are less than R100 and to fur­ther pre­vent cus­tomers from abus­ing the sys­tem by re­vers­ing or stop­ping le­git­i­mate debit or­ders,” ex­plains Prozesky. Lastly, apart from re­vers­ing rogue debit order, cus­tomers are fur­ther urged to re­port all com­pa­nies in­volved in this il­le­gal ac­tiv­ity to the Pay­ments As­so­ci­a­tion of South Africa (PASA) via email at pasa@pasa.org.za or by dialling 010 140 7100.

Ryan Prozesky, FNB Con­sumer Core Bank­ing CEO

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