Martin Endjala
The First National Bank of Namibia (FNB) has reported losing over N$4 million to fraud, with just under N$1 million successfully recovered for affected clients.
This was revealed by FNB’s chief risk officer, Johan Du Plessis, during a media briefing held in Windhoek.
“Between November and December 2024, FNB reported and investigated 103 fraud incidents. This represents less than 1% of the customer base impacted by fraud,” he said.
One recent case involved a 60-year-old pensioner from the Omusati region, who was defrauded of N$1.1 million by an unknown suspect.
The suspect gained access to her account and transferred money to multiple FNB accounts without her consent.
Du Plessis noted that the suspect used an unidentified strategy to access the pensioner’s account.
“This case highlights the extreme lengths criminals are willing to go to. While trying to procure goods and services, our client met individuals that misrepresented themselves; however, after a thorough investigation, we can confidently confirm that this incident was unrelated to any internal FNB personnel,” said Du Plessis at a media briefing on Thursday in Windhoek.
He emphasised the bank’s commitment to addressing fraud and ensuring the security of customer accounts.
“The bank has an internal rigorous audit that is undertaken at all times when fraud incidents occur, and every click or tick by an FNB officer on a customer account is monitored 24/7. The bank has robust internal measures to prevent fraud and ensure the security of customer accounts,” he asserted.
Nangula Kauluma, FNB’s retail chief executive officer, assured customers that the bank is actively working to combat the growing threat of fraud.
“Crime, and in this instance, fraud, is not just a banking concern; it is a national and industry-wide problem that requires a collaborative approach to address effectively,” she said.
Kauluma urged customers to report any suspicious activity immediately by contacting the bank’s 24/7 helpline at 081 9536262 or (061) 299 2222.
“Addressing fraud requires a collective effort. Fraud is a crime that relies on manipulation, coercion, and deception, and FNB is dedicated to working with all partners to ensure that criminals are stopped at every turn,” she said.
Rodney Forbes, FNB’s chief operating officer, reiterated the bank’s commitment to security, describing it as “non-negotiable.”
He highlighted the bank’s robust security measures, such as two-factor authentication (2FA) and encryption for secure data transmission.
“We also have a dedicated forensic team that works alongside law enforcement to help investigate fraud incidents and assist in seeing criminal prosecutions through to successful convictions,” he said.
He advised customers to use strong, unique passwords, avoid unsolicited communications, and stay vigilant about evolving threats.
