The Information Communication Technology Union (ICTU) expressed deep concern over what it calls the “irrational acts” of South African banks in closing their clients’ bank accounts. The statement highlights the ongoing disputes between certain individual clients, companies like the Sekunjalo Group, and major banks.ICTU emphasised that while banks have legal requirements and obligations, the reasons provided for closing accounts often lack substance and are deemed “fishing or unconvincing”. The union pointed out that banks are bound by ethical and legal standards to prevent financial crimes…
