Standard Bank under scrutiny over ‘unauthorised transactions’

The most prominent complaint comes from an account named Oddette, or @PinketteXO, whose pensioner mother allegedly had her entire monthly pension wiped from her account within two days of it being deposited. According to the user, bank statements show the funds were transferred out at a branch in Acornhoek, Mpumalanga, yet her mother was in Nelspruit at the time. “Despite this, the bank claims she performed the transactions but refuses to provide the account numbers where the money was sent,” Oddette wrote.

“When funds leave an account, there must be a clear record of the destination accounts. Refusing to disclose that information raises serious concerns about transparency and accountability,” she claimed. Standard Bank on Monday acknowledged the post but disputed the characterisation of events, clarifying that the matter related to transactions from 2011.

The bank said a case opened in 2023 was fully investigated, resolved, and closed, with a Financial Sector Conduct Authority (FSCA) complaint process also supporting its findings. “The internal investigation and assessment by the FSCA found no evidence of fraud, unauthorised activity, or bank error in this case.” “We remain fully committed to the safety and security of our customers’ funds,” the bank toldThe Citizen. Oddette accused the bank of lying and demanded that it produce evidence of any assistance rendered. Standard Bank’s response made no reference to other complaints circulating on the same thread.