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
"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.