Nischal Mewalall has been appointed CEO of the South African Banking Risk Information Centre (Sabric).
He was appointed after an extensive search and brings a wealth of experience and insights to the organisation, 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, Sabric board chair Y Abba Omar said in a statement on June 1.
Mewalall was previously head of crime and security risk management at financial services provider First National Bank (FNB), where he was responsible for coordinating the detection and response to crime and security threats across the FirstRand Group.
He started his career at the National Prosecuting Authority (NPA) as a prosecutor and subsequently spent 13 years at the Financial Intelligence Centre (FIC) leading the regulator'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, tax and intelligence agencies.
Mewalall has served on various public sector structures, including the Anti-Corruption Task Team and was the deputy chair of the FIC's Enforcement Tribunal.
Prior to joining Sabric, he served as a director and board member of the Southern African Fraud Prevention Service, as well as the deputy chair of the Sabric Integrated Crime Risk Management Committee.
"I have no doubt that Nischal will lead the Sabric team to add greater value in the fight against bank-related crimes and empower the public to take care of their money," said Sabric former CEO Kalyani Pillay.