South Africans face biometric and identity verification processes that use their personal information when they sign up for a banking app

[mylesillidge]

What happens to your personal information when you sign up for a banking app in South Africa

South Africans who sign up to use a banking app must immediately undergo a host of near-simultaneous biometric, identity verification, and risk assessment processes that use their personal information.

This is according to James Saunders, co-founder and chief technology officer of RelyComply, an anti-financial-crime provider for major banks such as Standard Bank and Bidvest.

 

[EmmanuelGoldstein]

OK

 

[system32]

And yet these bank fail to detect corruption and fraud flying thru their bank accounts.

• Crime Intelligence, Major-General Feroz Khan had bank accounts.
• Tembisa fraud committed by Hangwani Maumela (Squirrel's family) - money went thru bank accounts.
• Christopher Tshivule (Lotto corruption) money went thru banks.
• Dina Pule maladministration went thru bank accounts.

etc.

 

[gogga_]

And yet these bank fail to detect corruption and fraud flying thru there bank accounts.

• Crime Intelligence, Major-General Feroz Khan had bank accounts.
• Tembisa fraud committed by Hangwani Maumela (Squirrel's family) - money went thru bank accounts.
• Christopher Tshivule (Lotto corruption) money went thru banks.
• Dina Pule maladministration went thru bank accounts.

etc.

Banks turn a blind eye when it suits them. Scum.

 

[Sargeant]

I alwasy find it curious how span just kicks into next gear every time you have an interaction with a bank.....

 

[MrGray]

It's only a matter of time before anything they don't like on your social media automatically gets you "unbanked".

And to the people who ask why high profile government connected fraudsters seem to get away with so much corruption - it's probably because they're flagged as PEPs (political exposed persons) - at which point a lot of these investigations fall away or go dark. Which seems to have the end effect of actually shielding them instead of exposing them.

 

[_TrXtR_]

After that process the agent forwards your personal details to their favorite companies and then you are set for spam for life.

 

[EmmanuelGoldstein]

It's only a matter of time before anything they don't like on your social media automatically gets you "unbanked".

And to the people who ask why high profile government connected fraudsters seem to get away with so much corruption - it's probably because they're flagged as PEPs (political exposed persons) - at which point a lot of these investigations fall away or go dark. Which seems to have the end effect of actually shielding them instead of exposing them.

Friends of mine overseas tell me it's already being rolled out in the US and particularly Europe.