STANDARD Bank has reported a case involving dormant accounts that its employees activated with their own funds to the authorities.
The bank, which held its 2022 annual general meeting (AGM) on Tuesday morning, told shareholders that it was giving the issue of ghost accounts the seriousness it deserves.
“The allegations have been investigated and the investigation continues. Secondly, we have reported all the facts before us to all the relevant authorities,” said Standard Bank CEO Sim Tshabalala.
However, Tshabalala said it was still too early to say definitively how this will affect the customer numbers for its SA operations or what the financial impact is going to be. The bank breached the 10 million customer mark in its SA operations last December. Fin24.com