The National Financial Ombud Scheme has urged victims of fraudulent romance scams to report their cases to the police and banks.
IOL has been highlighting these scams, with numerous South African women coming forward to share their experiences of being defrauded.
Many of these women, who often serve as breadwinners in their households, are left destitute and emotionally traumatised. Some have even reportedly taken their own lives after falling victim to these scams.
In their desperation, they have reached out to various government departments, including the Public Protector and the National Prosecuting Authority.
Victims accuse commercial banks of complicity in these scams, citing glaring irregularities in how money was withdrawn from their accounts.
Some women claim they were not directly handed cash but that the scammers appeared to have inside knowledge of bank operations.
In some instances, victims were escorted into banks by scammers, and large sums of money were withdrawn without prior appointments.
One victim, who wished to remain anonymous, expressed frustration, stating: “All we are saying is that the banks could have protected us, even in our moment of weakness, but bank officials abetted the scams. The way many women are easily getting these huge cash loans is questionable.”
IOL contacted the National Financial Ombud (NFO), which was formed by merging four existing South African ombud schemes.
Nerosha Maseti, Lead Ombudsman for the Banking Division at the NFO, explained that the organisation’s primary mandate is to resolve consumer complaints against financial service providers.
“When a banking consumer submits a complaint regarding losses due to financial crime, the NFO’s banking division investigates thoroughly,”Maseti said.
The investigation assesses whether banks treated their customers fairly and complied with relevant laws and regulations.
Maseti noted that if a bank is found to have acted negligently or unfairly, the NFO can recommend that the bank refund the portion of the customer’s losses that could have been prevented.
The NFO operates independently and offers its services at no charge to complainants.
In response to the rise in romance scams, specialised police investigators from the Hawks have been assigned to tackle cases that were often dismissed at local police stations.
Many officers tend to dismiss victims, arguing that they “voluntarily” gave money to their scammers, who often posed as romantic partners.
Maseti explained: “In romance scams, victims typically make payments to fraudsters voluntarily, making it challenging for banks to detect fraud since transactions are made using legitimate methods and customer credentials.”
Despite this, banks have to provide secure banking platforms. They must implement various mechanisms to verify customers during transactions and have fraud monitoring systems in place.
However, each case must be investigated based on its unique circumstances.
Victims of these scams are encouraged to report incidents to the South African Police Service (SAPS) and their banks as soon as possible.
If they believe their bank has acted negligently, they can contact the NFO for free assistance. For more information, visit www.nfosa.co.za or call 0860-800-900.
The Star
jonisayi.maromo@inl.co.za