WesBank and its CEO Ghana Msibi have been exonerated of any wrongdoing following the dismissal of all charges by the South African Police Service (SAPS) and the senior public prosecutor, the vehicle finance bank said in a statement yesterday.
WesBank received confirmation from the SAPS and the senior public prosecutor that the cases of fraud brought by Emerald van Zyl had been formally dismissed.
An online search showed that Van Zyl had opened a case of fraud at the Bellville Police Station in Cape Town in July. Van Zyl had alleged, also in media reports, that WesBank had overcharged its black clients on their vehicle finance accounts based on incorrect interest calculations.
“Following their investigation into the fraud charges…the SAPS and the prosecutor in the case have elected not to pursue any fraud charges against WesBank or Mr. Msibi due to the absence of any reasonable evidence of any crime committed,” WesBank head of marketing and communication Lebogang Gaoaketse said in a statement yesterday.
Gaoaketse emphasised the importance of sourcing financial advice from credible sources, and consumers needed to “beware of so-called ‘financial experts’ motivated by their own personal agendas.”
“In finance and finance-related matters, it is vital to base your decisions on accurate and reliable information,” he said.
“Always seek advice from credible sources with the relevant qualifications and a proven history of assisting consumers. It is also important to check if they are registered with the appropriate industry or regulatory bodies.”
WesBank encouraged its clients to contact the National Financial Ombudsman Scheme to report any concerns they may have regarding their finance accounts. The National Financial Ombudsman Scheme is independent and offers fair advice at no cost to the complainant.
BUSINESS REPORT