FNB acts on investment scam
First National Bank says it is aware that an undisclosed number of its customers have been ripped off through an investment scam.
|||Johannesburg - Big four bank First National Bank says it is aware that an undisclosed number of its customers have been ripped off through an investment scam.
The bank notes it has fired staff members, who apparently were employed as financial advisors but ripped off their clients, resulting in customers not getting monthly returns on their investments.
IOL understands the scam involved customers investing lump sums with the advisors in expectation of having monthly returns paid out to them.
The quantum of the fraud and number of individuals implicated is not currently known.
FNB says in a holding statement issued on Thursday that the staff implicated are no longer in the employ of the bank.
“We further confirm that the individuals acted outside of their authority and were not acting on behalf of FNB.”
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FNB adds “all matters of fraudulent activities are regrettable and the bank will continue to work with the relevant authorities in this regard”.
It is calling on its clients who were affected to provide it with as much information as possible so the bank can assist with the investigation.
“FNB has zero tolerance towards any illegal or criminal activity. We continue to engage the affected parties and cannot provide further comment due to the pending investigation.”
The bank’s statement follows an Eyewitness News expose that revealed that at least 20 clients said they have fallen victim to an investment scam at the bank.
EWN reported victims claiming that hundreds of thousands had disappeared.
This scam follows another earlier this week in which FNB customers were victim to a phishing scam.
IOL