Johannesburg: Indian-origin South African Nischal Mewalall, an expert in fighting money laundering and terrorism financing, has been appointed as the chief operating officer of SABRIC, a non-profit company that assists in combating organised bank-related crimes.

The South African Banking Risk Information Centre (SABRIC) was formed by the country’s major banks like the First National Bank and the Standard Bank.

Besides assisting in combating organised bank-related crimes, SABRIC also keeps people informed about the latest banking scams and fraudster activity.

Mewalall was appointed after an extensive search, Chair of the SABRIC Board Yacoob Abba Omar said.

“He brings to the organisation a wealth of experience and insights which can only help build on SABRIC’s firm foundations, while also looking at innovative responses to the ever-evolving world of crime and fraud,” Omar said in a statement.

Mewalall joins SABRIC from his post of head of crime and security risk management at the First National Bank, one of South Africa‘s leading financial institutions.

He was responsible for coordinating the detection and response to crime and security threats across the bank’s mother company FirstRand Group.

Mewalall started his career at the National Prosecuting Authority as a prosecutor and subsequently spent 13 years at the Financial Intelligence Centre leading the regulatory body’s monitoring and analysis division.

He has extensive experience in combatting money laundering and terrorist financing in South Africa through collaboration with law enforcement, prosecution services, and tax and intelligence agencies.

Mewalall has served in various public sector structures, including the anti-corruption task team, as director and board member of the Southern African Fraud Prevention Service, and as the deputy chair of SABRIC Integrated Crime Risk Management Committee.

“I look forward to leading SABRIC and building on its success by leveraging technology, data and artificial intelligence to bring even greater value to our members and stakeholders,” he said.

Mewalall also highlighted his passion for using technological innovation to solve contemporary crime challenges.

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