Staff Reporter
THE Bank of Namibia (BoN) has assured the public that it will continue its engagement with Standard Bank Namibia to ensure all clients affected by the recent unauthorised debit card transactions are fully reimbursed.
This was confirmed by Kazembire Zemburuka, BoN’s Director of Strategic Communications and International Relations.
“The Bank continues to engage the relevant banking institution to ensure all impacted customers are reimbursed in accordance with the relevant internal policies and processes,” he said.
This follows the announcement from Standard Bank Namibia that it had detected unauthorised debit card transactions involving a number of clients from a specific vendor. While Standard Bank Namibia has not revealed the full details of the incident yet, the bank assured that it had already contacted those affected and implemented immediate corrective actions.
Zemburuka stressed that, as part of its regulatory role, BoN requires all banks and authorised payment service providers to comply with its regulations. He added that the Bank will therefore continue to work with Standard Bank Namibia to ensure that all their systems remain resilient and comply with the necessary provisions.
These provisions, he highlighted, include PSD-12, which ensures operational and cybersecurity resilience in the National Payment System; BID-30, which prescribes key principles for maintaining appropriate information security controls; and PSD-7, which provides the guiding principles for ensuring the efficiency of the National Payment System.
“The Bank of Namibia remains firmly dedicated to safeguarding the safety, security and stability of Namibia’s payment systems. The Bank strives to ensure that the financial system remains resilient and responsive to emerging risks through robust regulatory oversight, continuous monitoring, and proactive measures,” Zemburuka added.
