Matter of trust

The public keeps its money in banks because they believe it will not only yield them interest but will also be safe.

The public keeps its money in banks because they believe it will not only yield them interest but will also be safe.

Fundamental to a bank's business is trust, which it can only guarantee if it has honest employees.

But this trust comes into question with reports such as the one that appeared in Sowetan yesterday.

The report, related to a police investigation, was about a syndicate that had fleeced bank clients of more than R2 million.

The fraudulent transactions were conducted with the help of corrupt bank and Telkom employees.

But the most important questions are the extent of the syndicate's chicanery and whether the banks will play open cards about their internal probes and safeguards.

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