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Banks use Home Affairs data to vet clients

Nov 08 2011 12:57 Sapa

Company Data

AFRICAN BANK INVESTMENTS LIMITED [JSE:ABL]

Last traded 10.78
Change 0.13
% Change 0.01
Cumulative volume 603303
Market cap 16.18bn

Last Updated: 17/04/2014 at 04:15. Prices are delayed by 15 minutes. Source: McGregor BFA

NEDBANK GROUP LIMITED [JSE:NED]

Last traded 221.59
Change 4.45
% Change 0.02
Cumulative volume 343564
Market cap 113.89bn

Last Updated: 17/04/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

BARCLAYS AFRICA GROUP LIMITED [JSE:BGA]

Last traded 154.00
Change 3.3
% Change 0.02
Cumulative volume 818745
Market cap 130.55bn

Last Updated: 17/04/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

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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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