FNB, RMB ramp up action against financial crime
As International Fraud Awareness Week highlights the global urgency to combat financial crime, FNB and RMB Namibia convened a high-level engagement focused on fraud awareness and cybersecurity. The event brought together senior decision-makers and risk officers to address the escalating threat of fraud and cybercrime - issues that compromise not only individual security but also the resilience and trust underpinning businesses and economies.Delivering the keynote address, FirstRand Namibia CEO Conrad Dempsey stressed the systemic impact of fraud. “Fraud and cybercrime are no longer occasional disruptions; they are persistent, sophisticated threats that strike at the very foundation of trust on which our businesses and financial systems depend.”
Speakers emphasised that fraud is not merely a technical challenge but a societal issue requiring coordinated action. Discussions centred on emerging trends, advanced prevention tools and strategies to strengthen organisational and industry-wide resilience. Attendees explored how collaboration across sectors, including law enforcement, media, community organisations and customers, can create a united front against financial crime.
Over the past year, FNB and RMB Namibia have intensified national education and awareness efforts through media partnerships, nationwide activations, radio engagements and digital campaigns. These initiatives aim to simplify complex fraud trends and equip businesses and communities with practical steps to protect themselves.
Transparency, collaboration
Dempsey underscored the importance of transparency and collaboration. “If there is one thing recent incidents have taught us, it is this: fraud thrives in silence, in isolation and in misinformation. So, we are choosing connection. We are choosing transparency, and we are choosing collaboration.”
The timing of the event was deliberate, taking place ahead of the festive season, a period when criminal activity, including cybercrime, typically spikes. By sharing actionable insights and reinforcing preventative measures, FNB and RMB Namibia aim to ensure businesses and individuals remain vigilant and prepared.
Experts outlined some of the latest tactics criminals are using to exploit businesses and individuals, including:
• Social engineering: Fraudsters use phishing emails, fake calls and messages to obtain sensitive information, often posing as trusted institutions and creating urgency.
• Deepfake and AI fraud: Criminals employ synthetic media to impersonate voices or identities for high-value scams, making detection increasingly difficult.
• Device linking: Through social engineering and technology-driven methods, fraudsters gain access to devices and enable unauthorised digital transactions.
• Card fraud: Stolen card details are used for online purchases; clients are urged to transact only on trusted sites and never share card information.
• Business email compromise (BEC): Criminals intercept communications and alter banking details on invoices, diverting payments to fraudulent accounts. Verification before payment is essential.
These tactics highlight the need for continuous vigilance, robust internal controls and proactive education across all levels of business.
Calling for sustained commitment, Dempsey said: “We may not be able to eliminate every threat, but we can reduce vulnerability by staying informed, alert and connected. When each of us plays our part, we build a system that is stronger, safer and far harder to infiltrate.”
FNB, RMB and the broader FirstRand Namibia Group reaffirmed their commitment to driving education, strengthening partnerships and investing in secure, innovative systems to protect the financial well-being of all Namibians.