A Harrismith woman is demanding a full refund from Standard Bank after nearly R60,000 was allegedly withdrawn from her account without her consent, rejecting what she calls an inadequate goodwill offer from the bank.
Customer Disputes Bank’s Findings
Anastatia Radebe said the unauthorised transactions occurred in January and insists she never received any one time PINs linked to the payments. She reported the matter to the bank and opened a police case shortly after discovering the missing funds, expecting a swift resolution.
However, she said there was no feedback for two months before the bank responded with the outcome of its investigation, offering just over R16,000 as a goodwill payment. Radebe declined the offer, maintaining that she did not authorise any of the transactions.
Bank Maintains No Fault
In its response, Standard Bank said its investigation found that the transactions were processed using valid login credentials and approved through OTP verification linked to Radebe’s registered mobile number.
The bank stated that activity on the account suggested access through a third party device using the customer’s own credentials. It also confirmed that virtual cards were created on her profile and used for multiple payments, including transactions to platforms such as Vodacom, Zapper and EasyPay.
According to the bank, there was no evidence of a system breach or SIM swap, and all security steps, including OTP verification, were successfully completed.
Financial Impact And Ongoing Dispute
Radebe has questioned how a virtual card could have been used when she claims she never activated one. She said the financial strain has been significant, forcing her to take out an overdraft to cover expenses.
The bank reiterated that the goodwill payment was offered as a gesture based on her long standing relationship, and that she may escalate the matter to the ombudsman if she disputes the outcome.
Growing Concerns Over Digital Fraud
The case highlights increasing concerns around digital banking fraud in South Africa, where criminals often use phishing, smishing and other social engineering tactics to gain access to accounts.
It also reflects a broader tension between banks and customers, where institutions rely on verified credentials to validate transactions, while victims maintain they were targeted or compromised without their knowledge.
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