Banks have too much financial power which leads to graft

FEW people understand that we may be more at risk of being victims of banking corruption than government corruption.

The banks have too much financial power which eventually leads to malfeasance and corruption.

Our banking industry was born during apartheid and cannot possibly transform themselves to conducting business in a constitutional democracy. It is an impossibility.

They must at every step of the way be led by the findings of an ombudsman or the courts. They simply don’t understand democracy. In fact, they do everything within their financial power to stop democracy in its tracks.

This paper, on May 13, revealed that the banks were ordered by the ombudsman (OBS) to return R19 million to their customers. What more do we need to prove that they have CEOs, directors and managers incapable of comprehending the law relating to financial services?

They are a bunch of thieves reaping the benefits of a captured audience. They steal from their own clients.

All they need to do at any given time is increase any cost to instantly make billions of rand. People never stop paying for their houses, because the bank allows them to continuously take their payments back in the form of access bonds.

Our banks were born during apartheid and they will never adopt a democracy which makes them equal to their client within a court of law.

To prove this, I took one of the banks mentioned in the OBS report to court. They were unable to defend the action. But they found a way to get out of the matter. We have a very serious problem with these relics of apartheid.

Either the citizens collectively rise up and challenge their apartheid-era power or we continue to live under an illusion of democracy.

The boards of directors should not feel safe in their boardrooms behind their advocates and attorneys. We must make life extremely difficult for them. When Robert McBride bombed a safe venue, it was done to change the course of history.

We are never going to be free of apartheid if we allow the banks to dictate transformation. They simply put a few black faces on their boards and slap everyone on their backs.

None of those black board members have implemented any significant change to this corrupt industry. I would know, I tried to contact the black faces on the bank’s board without success.

They are not allowed to do much, without a white man’s approval. The bank must appoint an advocate to interview me and learn just how far their corruption has spread.