MBABANE — FNB Eswatini has stepped up efforts to combat rising fraud scams commonly referred to as facata through investments in new technology and expanded public education initiatives across the country.
The move was outlined by the bank’s Chief Risk Officer Gugu Matiwane during an FNB Press Play engagement held at House on Fire, where the management team led by Chief Executive Officer Thokozani TK Dlamini met local media to discuss developments in the banking sector. The engagement took place yesterday.
Matiwane said the bank’s response to fraud focuses on protecting both customers and staff, beginning with internal capacity building.
“Charity begins at home. One of our key focus areas has been consistent training for our staff so that they are capacitated and do not fall victim to financial scams themselves. We conduct these through various in house programmes, including a recent training held in partnership with the Royal Eswatini Police Service REPS. When our people are capacitated, they are better positioned to support our customers and the broader society,” she said.
She said the bank has also moved beyond digital platforms to take fraud awareness directly to communities, responding to the growing sophistication of scams affecting the public.
“While we have traditionally relied on social media for awareness campaigns, we have now added more layers to our strategy by adopting a risk based approach. In December, we visited two textile companies in Matsapha and conducted fraud awareness activations at their premises. This allowed us to engage directly with customers and even members of the public who do not bank with FNB,” Matiwane said.
According to the bank, similar outreach programmes and roadshows are planned for other parts of the country as part of a broader national awareness drive.
Matiwane said consumer education is being supported by technological solutions designed to stop fraud before losses occur.
“We understand that awareness must go hand in hand with technology. We have introduced models that monitor customer behaviour and enable us to intervene, where necessary, before fraud takes place,” she said.
She cautioned customers and the public to be alert to scammers posing as police officers or bank officials who pressure victims into transferring money for supposed safety reasons or into sharing one time passwords, which are then used to access accounts.
“We strongly encourage our customers to pause, verify and confirm any suspicious communication by contacting the bank directly through official channels, such as our toll free line 800 6100. Fraud should also be reported as early as possible, as compromised accounts can remain vulnerable if the bank is not alerted in time,” Matiwane said.
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