Banking sector tightens screws on fraud
Wednesday, September 09, 2015
As part of a raft of reforms to counter fraud, a new modernised cheque clearing system, known as the Botswana Automated Clearing House (BACH) is now live. To reinforce the new measures, all cheques in use are to be discontinued by December this year and will be replaced by new ones that have enhanced security features.
Since 2013, BAB has been undertaking a project to modernise the national clearinghouse for interbank payments as part of a broader reform of the National Payment Systems under the auspices of the Bank of Botswana (BoB).
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...