NDB launches Molomatsebe

Oarabile Mosikare | Monday March 17, 2014 15:39

Launching the bank’s hotline, Molomatsebe, on Friday, Morapedi said sometimes the facility is wrongly used as an avenue for staff to vent their frustration. “Reports to the hotline are not always factual and raise the need for effective investigation,” said Morapedi.

She said as the way forward the bank commits to annual sensitisation of staff on fraud and other irregularities.

“The induction process for new staff will include training on the bank’s policies relating to fraud and the application of the hotline,” said Morapedi.

She said the annual refresher mini workshops and continuous training on money laundering will be conducted.

“Communication of the reports made and where possible the results of the investigations (will be availed),” she said, adding that the bank would also “Avail the hotline on public domain through various promotional literature, website and others.” For his part the chairperson of the finance, audit and risk committee, Cosmos Moapare said statistics worldwide has shown that financial institutions worldwide are the most hit by fraud at 17 percent. From this number 12 percent fraud is committed by executives with an estimated loss of US$750,000.

“It is within this premise that the Board of Directors, management and staff of the bank strive to subscribe to the philosophy of good corporate governance and it is important to note that the bank’s opening, financial and behaviour guidelines are founded on our corporate values,” said Moapare.