Nedbank Speaks On Arrest Of Tellers Accused Of Fraud

Last weekend saw 28 tellers from Nedbank appearing before the magistrate to answer to fraud charges. Here’s a statement released by the bank regarding the current situation:

Nedbank Zimbabwe undertook a series of investigations which led to the arrest of some of our tellers, and the matter is now before the courts. Nedbank has various systems and controls which helped local management to detect the alleged misconduct. These tools are consistently enhanced to help safeguard depositors` funds. The comprehensive investigation picked out every member deemed not to have adhered to the Nedbank procedures and standards. Should any new issues be identified, these will be dealt with accordingly. Nedbank upholds the highest standard of ethics, and integrity is the hallmark of all our dealings. Our mandate is to safeguard depositors’ funds and we take that duty very seriously. We strive to ensure that our people comply with these values of integrity and good ethical behavior. Our processes are also designed to complement this, and where they are compromised, Nedbank Zimbabwe will not hesitate to take the necessary remedial action. It’s important to note that, Nedbank will not retain any member of staff or management who does not live in line with these values.

In the spirit of transparency and good corporate governance, the bank has been responding to media enquiries. As the matter is now before the courts, and further investigations are still being carried out, we believe that the courts will now carry out their mandate. We will continue to work with all stakeholders including the regulators on this issues. The bank remains solid and we will continue to serve our clients with due care and diligence.