Bank watchdog satisfied it is moving faster
Ernest Mabuza - Business day, 24th May, 2002
The Office of the banking Adjudicator, which deals with public complaints against SA's banks, finalised 1 404 cases last year, most of which concerned automatic teller machine transactions and mortgage finance.
In reviewing its account for last year, the office said it had speeded up resolving most cases. The office said the improvement in its efficiency and its filing system made it difficult to compare the data obtained for last year with previous years.
Of the complaints finalised last year, maladministration was cited in 453 cases as the main cause, following by fraud (241 cases).
The office says it received about 12 000 cases last year alone. Of those cases, an initial vetting process was carried out to reduce the influx of formal complaints that fell out of the office's jurisdiction.
During this stage the number of complaints reduced drastically because the office had resolved the complaints telephonically. Banks also promptly attended to some of the cases with the complainants.
Of the 1 404 complaints finalised by the office last year, 18% related to automatic teller machines, 16% to mortgage finance and 15% to consumer finance such as loans and leases. Cheques and credit cards accounted for 9% of the complaints finalised.