Bongi Kunene, MD of the Banking Association of South Africa , says it's hard to overstate the potential damage caused by the accusations of sabotage and treason made against the banks by minister in the Presidency Khumbudzo Ntshavheni.
For 15 years, pensioner Ody Pila has been struggling to clear his R8,000 credit card debt with Standard Bank despite the bank debiting R1,500 every month for over a decade.
National Treasury director-general Ismail Momoniat says authorities have reduced the number of actions required by the Financial Action Task Force to just eight from 67 initially.