Public outcry over bank account closures due to unfounded ‘reputational risk’
By Philippa Larkin | Published Jun 7, 2024
The ordeal of Dr Iqbal Survé, the chairperson of Independent Media and Sekunjalo, highlights the deficiencies in the current system. Despite spending over R400 million on legal battles to keep Sekunjalo’s accounts open, he argues that reputational risk is often a pretext used by banks to close accounts without substantial evidence of wrongdoing.
