Banking ombud reveals record number of complaints in 2021

The ombud has released the annual report, showing a 7% increase in the number of complaints compared to the previous year.

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JOHANNESBURG - Banking Services Ombud Reana Steyn says she received and investigated a record number of complaints against various banks in 2021.

The ombud has released the annual report, showing a 7% increase in the number of complaints compared to the previous year.

Steyn opened a record 8,257 cases last year, which is 28% more than cases opened in 2019.

Due to COVID-19, most complaints were internet banking-related – something the ombud called a worrying statistic.

The report showed how ATM-related complaints continued to decline, accounting for only 7% of complaints – a complete contrast to 2015 when most bankers experienced problems at the country’s money machines.

Steyn said most complaints could have been avoided had customers been more skeptical of fraudsters posing as bank personnel.

She has advised customers to be prudent and read up on the latest fraud trends. She also urged people to get in touch with their banks on offerings for people in financial distress.

This in a bid to avoid legal action and properties being repossessed.