Question NW874 to the Minister of Finance
06 June 2016 - NW874
Carter, Ms D to ask the Minister of Finance
Whether the National Treasury has held discussions with the banking sector to discuss measures to prevent criminals who snatch or swop credit cards from withdrawing substantial amounts in quick succession from different ATMs in a given area; if not, why not; if so, what were the outcomes of the discussions?
Reply:
The National Treasury has not discussed the problem of snatching or switching credit cards with the banks as the banks and regulators are expected to be engaging on such issues. The National Treasury does meet regularly with representatives of the banking sector like the Banking Association South Africa, the South African Banking Risk Information Centre (SABRIC)[1], and the Payments Association of South Africa to discuss general trends identified in fraud as it affects the banking sector.
SABRIC frequently undertakes campaigns to educate consumers on how to protect themselves against banking fraud including card and ATM crimes (see www.sabric.co.za). The banking industry is currently embarking on a national campaign to encourage bank customers to take diligent care of their cyber-security. The challenge facing banks and SABRIC is working with the criminal justice authorities to bring specific cases to court.
We will give further consideration to these challenges and criminality impacting on citizens and banks.
SABRIC is a non-profit company formed by the four major banks to assist the banking and cash-in-transit companies to combat organised bank-related crimes ↑