FNB Namibia Reports N$4 Million Loss to Fraud. First National Bank of Namibia (FNB) recently reported losses exceeding N$4 million due to fraudulent activities, recovering just under N$1 million for its affected clients. The announcement came from Johan Du Plessis, FNB’s Chief Risk Officer, during a press briefing in Windhoek.
“This case demonstrates how far criminals are willing to go,” said Du Plessis. “The fraudster misrepresented themselves to the client. After thorough investigations, we can confidently state that this was not an internal issue.”
FNB reaffirmed its dedication to preventing fraud and protecting customer accounts. Du Plessis highlighted the bank’s stringent internal audit procedures, which monitor all employee interactions with customer accounts in real-time. He noted that the bank employs advanced security measures, such as two-factor authentication and encryption, to safeguard sensitive data.
Retail Chief Executive Officer Nangula Kauluma echoed the need for vigilance in tackling fraud, describing it as a widespread issue that extends beyond the banking sector. She emphasized the importance of collective action to combat fraudulent activities.
“Fraud is not just a banking problem; it’s a national concern,” Kauluma stated. “We need collaboration across industries to address this growing challenge. Customers should report any suspicious activities immediately by contacting our 24/7 helpline.”
Kauluma urged clients to remain cautious, as fraud often relies on manipulation and deception. She reassured the public that FNB is committed to working with all stakeholders to prevent criminal activities.
Chief Operating Officer Rodney Forbes reinforced the bank’s zero-tolerance approach to fraud, describing security as “non-negotiable.” He highlighted the role of FNB’s forensic team, which collaborates with law enforcement to investigate fraud cases and support successful prosecutions.
Forbes encouraged customers to adopt proactive measures to protect themselves. “Use strong and unique passwords, stay vigilant, and avoid engaging with unsolicited communications,” he advised.
FNB’s leadership remains resolute in its fight against fraud, emphasizing that maintaining customer trust and account security is a top priority. The bank continues to enhance its systems and collaborate with partners to ensure that criminals are stopped at every turn.
