South Africa gets interim banking fraud boss

The South African Banking Risk Information Centre (Sabric) has announced that Andre Wentzel has been appointed interim CEO, effective immediately.

This comes after former CEO Nischal Mewalall announced his resignation in mid-June 2025.

Sabric said Wentzel is a highly respected industry leader and regulatory compliance specialist with more than two decades of experience in the banking and financial services sector.

It said Wentzel demonstrated exceptional leadership in developing and implementing various anti-fraud programmes throughout his career.

These include anti-money laundering, counter-terrorist financing, anti-bribery, anti-corruption, financial sanctions control, and fraud risk management programmes.

He most recently served as senior specialist advisor for group anti-financial crime at Standard Bank, providing strategic advisory services until January 2024.

“Prior to this, he held the senior executive position of head: Standard Bank Group anti-financial crime, where he led the group’s anti-financial crime strategy across multiple jurisdictions,” said Sabric

Wentzel has a long-standing relationship with Sabric, which includes serving as Standard Bank’s representative-director on the Sabric board for four years.

The experience gave him an intimate understanding of Sabric’s mission, operations, and key strategic roles.

“His deep industry knowledge and established working relationships position him well to lead Sabric during this transitional period,” the firm said.

It added that his appointment comes at a critical time, with Sabric continuing to evolve its role in the industry’s fight against financial crime.

Wentzel is taking over the role from Mewalall, who led Sabric for five years. The firm announced his resignation on 17 June 2025.

“After five years of exemplary leadership, Nischal has decided to step down as chief executive officer of Sabric to pursue his personal aspirations,” the organisation said.

“The Sabric board, employees, and stakeholders extend their deepest gratitude for his visionary leadership and unwavering commitment to the organisation.”

Sabric said Mewalall’s leadership was behind its significant digital transformation, through which it became more technology-driven and strategically positioned to fight financial crime and fraud.

“His forward-thinking approach strengthened partnerships between the public and private sectors, enhancing South Africa’s collective resilience against cyber and financial threats,” it said.

Sabric board chair Bongi Kunene added that Mewalall was instrumental in building Sabric into a forward-looking, innovative organisation.

“We respect his decision to pursue new endeavours and wish him every success in his future pursuits,” Kunene said.

“His leadership during turbulent times was nothing short of remarkable, and his legacy will continue to benefit the industry for years to come.”