Standard Bank distances itself from fraud allegations in client's purchase of luxury car

Standard Bank has refuted allegations of fraud relating to a case of unauthorised payments towards a client’s luxury car.

Retired Professor Anele Mngadi Hammond recently took to social media and accused the bank of charging her double installments and harassing her for speaking out.

But the bank said it has investigated the matter and concluded that the claims are “false and baseless”.

Hammond narrated the allegations through a social media series, where she said she initially purchased the car in cash, through an international payment.

She said she was then told the payment was reimbursed and asked to use the financing route for the purchase.

Hammond alleges that after securing financing through Standard Bank, double deductions were made for three months without her consent.

In a statement, Standard Bank responded to allegations of criminal conduct and intimidation.

"At no point did Standard Bank or its representatives perform any acts of violence or intimidation towards Dr Hammond and any of her family members.

"While we respect the rights of the individual to express their views against our business, practices and processes, it is regrettable and irresponsible for Dr Hammond to publish false information," said Standard Bank in its statement.

It said after concluding the probe into the matter, it remains committed to investigating any further claims of fraud.