Barclays Bank of Zimbabwe Ltd has introduced automated fraud detection and monitoring systems for international and local debit cards, according to the company’s managing director, George Guvamatanga
Guvamatanga said the system was designed to identify suspicious card transactions, particularly those conducted outside the country.
"Any suspicious transactions on a customer's account using a debit card are flagged and the customer alerted by a central fraud monitoring team," says Guvamatanga.
Meanwhile, Barclays and other foreign-owned banks in Zimbabwe are awaiting revisions to the country’s Banking Act, following recent comments by finance minister, Tendai Biti, that he planned to amend the act.
Wallace Mawire
