Infamous 'Silence' bank hackers thought to hit local shores, warns cyber lab

2020-01-13 20:31

An infamous Russian-speaking hacking group referred to as Silence is the likely culprit making thousands of attempts to hack major banks in sub-Saharan Africa, says Kaspersky Lab.

FirstRand commits to disclosing fossil fuel exposure

2019-11-28 13:19

FirstRand Ltd., Africa’s biggest bank by market value, has committed to disclosing its fossil fuel-related assets and lending but said it can’t meet a deadline requested by some investors.

Here’s how Bank Zero’s patented debit cards work – and why your card number will never have to change

2019-11-13 12:14

Bank Zero has patented debit cards that have three different numbers, two of them invisible, which it says will make life a lot easier for customers when it launches in 2020.

Warning: Criminals are impersonating SA CEOs and other execs to steal money

2019-09-25 09:30

Criminals impersonate senior managers and send email requests to junior staff in the accounting or finance function requesting that an urgent payment be made to a specific beneficiary.

5 questions on the 'debt relief bill' unpacked

2019-08-17 10:02

The "Debt Relief Bill" allows low-income workers to extract themselves from debt through debt restructuring if they earn a gross income of R7 500 or less per month, have unsecured debt of R50 000, or have been found to be critically indebted.

Nigeria orders banks to loan more money

2019-07-04 16:47

In an effort to boost economic growth in Africa’s most-populous country, Nigeria is giving its banks a choice: lend more money, or hand it over to the central bank and earn nothing on it.

Commission ordered to revise its forex price-fixing case against 23 banks

2019-06-12 13:48

The matter dates back to February 2017, when the commission referred a forex collusion case initially involving 17 banks to the tribunal for adjudication.

Competition Commission recommends go-ahead for Absa, Société Générale deal

2019-05-31 11:10

The Competition Commission has recommended to the Competition Tribunal that it give the green light to a proposed merger that will see Absa acquiring target assets from Société Générale.

After cutting 802 000 jobs, some big banks are now adding staff

2019-04-03 22:05

Hundreds of thousands of jobs have disappeared on Wall Street since the 2008 financial crisis and some of the biggest banks haven’t stopped cutting. Still, some firms managed to reverse the trend and are slowly boosting staff levels.

Banks stuck with $1.6bn of unsold loans amid market rout

2018-12-22 15:23

A rout in the once-hot market for risky corporate loans has some of Wall Street’s largest banks stuck with at least $1.6bn of unwanted leveraged buyout debt.

 

Banks and financial apps in South Africa are sharing your personal information - here’s how to stop them

2019-11-30 06:44

Financial institutions around the world sell data about customer spending habits. Here's how FNB, ABSA, Capitec, Nedbank, and Standard Bank approach privacy – and what you can do to protect yours.

S&P lowers outlook on SA banks

2019-11-27 19:49

The outlook of S&P on South African banks - including the government-owned Development Bank of South Africa - is now negative, in line with the rating agency's downgrade of its outlook on the SA sovereign.

Bruce Whitfield: Machines promise a ‘golden age’ for banking – and that is very bad news for bank employees

2019-10-03 10:33

200,000 jobs will go in the US the next decade, replaced by Artificial Intelligence (AI) and machines - South Africa is next.

An astronaut may have committed the first space crime while aboard the International Space Station

2019-08-24 20:00

Summer Worden noticed her account had been accessed from a NASA computer before she concluded that it was her estranged spouse in space.

Zimbabwean banks plan to fight $100m Paynet lawsuit

2019-08-08 09:43

Zimbabwean banks intend to fight a $100m lawsuit brought by Cambria Africa's units in the country following a dispute over payments, court filings show.

FirstRand to lose 4 directors due to Reserve Bank directive

2019-07-02 17:54

FirstRand Bank is facing the retirement of four of its board members, but has managed to negotiate a reprieve for its chair, the group said on Tuesday.

Forex collusion case back in the spotlight at Competition Tribunal

2019-06-12 05:00

The matter dates back to 2017 when the Competition Commission referred a collusion case involving 17 banks to the Tribunal. Three domestic banks – Absa, Standard Bank and Investec were among those named.

Standard Bank’s former head office has been standing empty for years – as SA banks struggle with a building conundrum

2019-05-20 08:30

As banks close branches, they have to decide what to do with their old offices

Forex cartel case: Standard Chartered pleads guilty to manipulating rand, other currencies

2019-02-05 17:18

British multinational banking and financial services company, Standard Chartered, has pleaded guilty to manipulating currencies, including the rand, between 2007 and 2013.

Capitec beefs up fight to stop debit order fraud

2018-12-12 16:05

Capitec has lowered the minimum value that triggers an SMS notification for clients to be made aware of small debit orders from their accounts in an effort to fight unauthorised transactions.

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