Good job in high­light­ing R99 scam

The Citizen (Gauteng) - - LETTERS -

Con­grat­u­la­tions to The Cit­i­zen for high­light­ing the “99” bank­ing scam, which has been go­ing on for many years with scant ef­fort to curb it by any of the ma­jor banks or reg­u­la­tory bod­ies.

Maybe the banks were ac­tu­ally com­plicit be­cause it has been lu­cra­tive for them? In spite of not vet­ting the authen­tic­ity of any of the debit or­ders they daily ac­cept, they have the bare-assed cheek to charge their clients penalty fees to re­verse unau­tho­rised debit or­ders.

Pay­ments As­so­ci­a­tion (Pasa) CEO Wal­ter Volker has, for the last four years, promised that the as­so­ci­a­tion has been work­ing on a so­lu­tion to curb the scam­ming scourge. His lat­est spin is that the banks in­tend to in­tro­duce a new vet­ting sys­tem called debi check whereby clients in fu­ture have to per­son­ally au­tho­rise any new debit or­ders.

The prob­lem, ac­cord­ing to Volker, is that the sys­tem might only be­come fully op­er­a­tional in about two years.

The banks should not in­sult our in­tel­li­gence. SAbanks have some of the most ad­vanced tech­nol­ogy on the planet, and it isn’t rocket sci­ence to im­me­di­ately in­tro­duce a pro­fes­sional ver­i­fi­ca­tion sys­tem, which they should have done in the first in­stance. It’s an in­sult for Volker to make their prob­lem our prob­lem and merely urge us to check our state­ments ev­ery month to as­cer­tain scam amounts.

An in­di­ca­tion of the lack of will to pro­tect their clien­tele is that they can’t pro­vide any de­tails of ar­rests and con­vic­tions of any of the syn­di­cate scam­sters who per­pe­trate the scams.

Volker said the po­lice don’t want to pros­e­cute minis­cule R99 crimes, but col­lec­tively they amount to many mil­lions of rands of our money.

And many hun­gry peo­ple have been im­pris­oned for steal­ing a loaf of bread.

The banks should get off their lazy butts and earn the ex­hor­bi­tant charges they in­flict on us long-suf­fer­ing clients. Clive Swann

Send us your let­ter We pub­lish let­ters that come with full name, ad­dress and tele­phone num­ber even if you want to use a pseu­do­nym. let­[email protected] cit­i­zen.co.za, fax 010-4925386 or PO Box 43069 In­dus­tria 2042

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