By Mapaballo Borotho
- Standard Bank says viral claims that a customer’s pension money was “lost” are inaccurate.
- The bank says the transactions date back to 2011 and the case was investigated and closed in 2023.
- Both the bank and the FSCA found no evidence of fraud, unauthorised activity or bank error.
Standard Bank has responded to viral social media allegations claiming that a customer’s pension funds were lost, accusing the South African bank of corruption and fraud on Monday, 09 March 2026.
The bank says the claims are inaccurate and relate to transactions that took place in 2011.
According to the bank, the matter resurfaced in 2023 when a case was opened and subsequently investigated, resolved and closed in June of that year.
Standard Bank further explained that the customer also lodged a complaint with the Financial Sector Conduct Authority (FSCA), which reviewed the matter and supported the bank’s findings.
The investigations found that the disputed transactions were legitimate and that there was no evidence of fraud, unauthorised activity or bank error.
“The internal investigation and assessment by the FSCA found no evidence of fraud, unauthorised activity, or bank error in this case. We remain fully committed to the safety and security of our customers’ funds and continue to work closely with regulators and industry partners to protect clients from financial harm,” the bank said in a statement.
Customers with concerns about their accounts are encouraged to contact the bank through official channels for assistance.
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