Charity Ruzvidzo Business Reporter
SOUTH African Standard Bank Group has honoured workers from its Zimbabwean subsidiary Stanbic for outstanding work in the fight against fraud and protecting clients’ funds.The bank’s workers scooped first prize in FraudStop, an internal fraud prevention programme rolled out in the financial service institution through its parent company, Standard Bank Group.
Stanbic Zimbabwe’s chief executive, Joshua Tapambgwa said FraudStop operates throughout all of Standard Bank Group’s 19 African banking operations and was designed to motivate employees to report fraud regardless of value.
Three Stanbic Zimbabwe staff members qualified in the final draw that was conducted two months ago while one won the annual draw held in South Africa.
“All employees go through training on how to identify and report fraud. We’ve anonymous whistle blowing channels that are managed independently by one of the country’s largest audit firms. All this is done in an effort to prevent incidents of fraud,” said Tapambgwa.
He said common types of fraud include card fraud, e-mail hacking and documentation.
Meanwhile, the Standard Group has been named best foreign exchange provider in Africa for a third successive year for the 2015 global finance world’s Best foreign exchange provider awards.