Ghost accounts

SARB nails ghost accounts

Following complaints that commercial banks are looting cash into ghost accounts, the South African Reserve Bank made transparent its findings for unrecorded transactions at The Monetary Policy Review 2016, which was hosted at the Westin Hotel. Commercial banks report that bank personnel could not be held responsible for the financial[…]

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Complaints of payments made to ghost accounts

Customers have allegedly lodged complaints to the National Credit Regulator pushing for an investigation of ghost accounts following repayments made to creditors of African Bank. Salma Van Der Skyf* reported that she had been harassed with calls by African Bank asking her to pay her Cell C account. The consultant[…]

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