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Banks use Home Affairs data to vet clients

Nov 08 2011 12:57
Sapa

Pretoria - Banks are now able to verify their clients' details online with the home affairs department to curb fraud.

This has become possible under a partnership between the SA Banking Risk Information Centre (Sabric) and Home Affairs, launched in Pretoria on Tuesday.

"This partnership underlines the confidence of the banking industry in the department as a partner in defence of our identity," Home Affairs Minister Nkosazana Dlamini-Zuma said at the event.

She said the launch laid a firm basis for dealing decisively with fraud, corruption and identity theft.

Sabric chief executive Kalyani Pillay said the initiative was an opportunity to improve security. Absa Group [JSE:ASA], African Bank Investments [JSE:ABL], FNB and Nedbank Group [JSE:NED] are at various stages of introducing online verification systems.

 
home affairs department  |  sabric  |  banks

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