Combating financial crime

Effective anti-money laundering controls are essential to protect the integrity of the financial system, which in turn is crucial to economic and social development. The banking system is central to collecting and moving funds. Banks play a crucial role in identifying and preventing criminal activity, by detecting and reporting suspicious financial transactions that may be linked to fraud, corruption, criminal syndicates and terrorist organisations.


As financial services become more digitised, cybersecurity is a growing concern. Standard Bank has robust controls in place to ensure the integrity of our systems and the security of our clients’ funds.


Preventing and mitigating fraud

In South Africa, we’re introducing fingerprint verification to strengthen the security of our authentication process and better protect customers from impersonation fraud. We’ve partnered with the Department of Home Affairs to improve the accuracy of our client records. When a new customer opens an account with us, we copy and store their fingerprint, and check it against the Department’s population register for authentication.


Protecting our clients and business partners’ assets and data is a priority for us. This is an industry-wide and societal issue, and collaboration is crucial. We actively contribute to SABRIC forums for collaboration between banks on combating cybercrime.
– Graham Blain, Head of IT governance, Standard Bank Group

©2014 Standard Bank is a licensed financial services provider in terms of the Financial Advisory and Intermediary Services Act and a registered credit provider in terms of the National Credit Act, registration number NCRCP15.

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