Thousands of consumers have had more than R60m paid back to them after the National Financial Ombud (NFO) of SA’s banking division resolved their disputes with various banks.
Over and above the monies paid back this year, there were repossessed vehicles that were returned to customers, and some had their debt written off.
Lead ombud, Nerosha Maseti, said these achievements were “through decisive rulings and tireless dedication from case administrators and adjudicators, thousands of consumers and banks have resolved disputes, even in the most challenging circumstances”.
“Of the R60m paid back to aggrieved consumers, the majority of refunds were awarded or offered by banks in fraud-related cases. However, recommendations have also been made where it was found that the service by some banks was not up to standard or in line with the principles of treating customers fairly.
“The banking division’s recommendations extended far beyond monetary compensation, which included the return of repossessed vehicles, the writing-off of debt – including confirmation of prescribed debt or overcharging of interest – reducing financial strain on debt-stressed consumers, and measures to avoid the sale of property at auction.
Of the R60m paid back to aggrieved consumers, the majority of refunds were awarded or offered by banks in fraud-related cases.
— Nerosha Maseti, NFO lead ombud
“[Most] importantly, many of these recommendations have driven significant changes in the banks’ internal processes and procedures, strengthening protection for consumers and improving industry standards.”
She said the banking division’s work had delivered life-changing impact and was not only about resolving individual complaints.
“It’s about driving improvements that benefit all consumers. By holding banks accountable and promoting fair treatment, we are helping to create a more transparent and responsible financial landscape.
“[Some of the trends and observations include] mobile banking and internet banking fraud [which] remain the highest complaint generators, together accounting for 39% of all cases received. The NFO banking division observed a significant increase in online banking fraud complaints during 2025, with total complaints having increased by 15% compared to 2024.
“As technology and AI [artificial intelligence] evolve, so too do fraudsters’ tactics. Fraudsters are increasingly using AI to deceive consumers, convincing them that they are speaking with their banks and persuading them to transfer funds directly to the fraudster’s accounts. Some scammers are even able to clone or copy bank numbers, making it extremely difficult for consumers to distinguish between legitimate calls and fraudulent ones.”
Maseti urged consumers to be responsible when applying for credit.
“Collection-related complaints also remain high, as many consumers continue to face financial challenges and seek recourse from the ombud’s office. Often these consumers are overindebted. With the festive season approaching, the NFO reminds consumers to be responsible and provide truthful information when applying for credit,” she said.
“Under the National Credit Act (NCA), credit providers must conduct an affordability assessment before granting credit. Consumers are obliged to provide truthful and complete information and avoid conduct that could lead to over-indebtedness.
“The banking division often receives complaints where consumers allege that banks have granted them credit recklessly; however, after investigation it becomes clear that consumers provided information to the banks themselves or confirmed that all the information used in the application was true and correct.”
Sowetan
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