Postbank suffered financial losses of close to R89 million: Report

The Communications and Digital Technologies Minister Solly Malatsi has revealed that the money that was stolen at Postbank included social grants.

He has confirmed that he has referred the forensic report on governance and financial breaches at the Postbank to the Hawks.

The report indicates that Postbank suffered financial losses of close to R89 million due to fraudulent activities between 2021 and 2022.

Malatsi presented the report before Parliament yesterday.

“What makes this cash theft even more repugnant is that some of this money was stolen from vulnerable social grant beneficiaries and ordinary South Africans who were saving for a better future. We will use the full might of the law to fight anyone who dares rob citizens. I expect decisive action to ensure that public entities are run ethically and with integrity, for the benefit of our citizens, and not criminals.”

“What makes this cash theft even more repugnant is that some of this money was stolen from vulnerable social grant beneficiaries and ordinary South Africans who were saving for a better future. We will use the full might of the law to fight anyone who dares rob citizens….

— Dept of Communications & Digital Technologies (@CommsZA) September 3, 2024

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MEDIA STATEMENT BY THE MINISTER OF COMMUNICATIONS AND DIGITAL TECHNOLOGIES, HONOURABLE SOLLY MALATSI

MINISTER @SollyMalatsi REFERS @KPMG FORENSIC REPORT ON THE @Postbank_ZA TO THE HAWKS pic.twitter.com/3Neh18dc4B

— Dept of Communications & Digital Technologies (@CommsZA) September 3, 2024

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