The National Financial Ombud Scheme (NFO) reports that since its inception in March of last year, it has handled 40,859 cases and recovered 416 million. This scheme resulted from the merger of four ombudsman agencies, creating a single platform for resolving complaints and disputes in South Africa’s financial services sector. NFO head Reana Steyn stated that the organization has provided a crucial safety net for those affected by maladministration, disputes, or financial losses.
“The NFO will continue to advocate for consumer financial education and raise awareness of individuals’ rights and obligations to ensure better outcomes in this complex environment,” she said. “Our hard work will persist as we strive to fulfill the NFO’s goals and play a vital role in the financial services landscape.”
VOC News
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