Staff Writer
Namibia is marking International Fraud Awareness Week, and Standard Bank Namibia is urging the public to take active steps to protect themselves from scams.
Under the theme “Stop. Check. Protect.” the bank is promoting a culture of awareness to help safeguard consumers, businesses and the wider economy.
Fraud has become a daily risk. Phishing emails, identity theft and cybercrime continue to grow, as fraudsters exploit technology and human error. The impact extends beyond money, affecting emotional wellbeing and trust in financial institutions.
“Fraud is not just about stolen money; it’s about stolen peace of mind,” said Roxzaan Witbooi, head of compliance at Standard Bank Namibia. “When someone falls victim to fraud, the emotional toll can be just as severe as the financial loss. That’s why we’re committed not only to safeguarding the bank and its clients against fraud but also to building a culture of awareness, education and proactive protection.”
Globally, organisations lose an estimated 5% of their annual revenue to fraud.
For Namibia, this amounts to millions of dollars each year, weakening business resilience, draining public resources and hurting investor confidence.
Standard Bank says it is responding with stronger internal controls, improved fraud detection systems, and closer cooperation with regulators, law enforcement, and industry peers.
The bank is also focusing on education. Throughout Fraud Awareness Week, Standard Bank Namibia will run initiatives aimed at improving public understanding.
These include internal training, awareness campaigns, thought leadership events and outreach activities that encourage reporting of suspicious behaviour.
“Fraud is everyone’s problem and everyone’s responsibility. By stopping to think, checking the facts, and protecting ourselves and others, we can build a safer financial future for Namibia,” Witbooi said.
