Money

A KPMG forensic report on the Postbank has been referred to the Directorate of Priority Crime Investigation (DPCI), also known as the Hawks, in a bid to ensure that those responsible for the crimes are brought to book.

According to a statement by the Department of Communications and Digital Technologies, Minister Solly Malatsi, received the forensic report on governance and financial breaches at the Postbank which compromised the institution and resulted in financial losses to the value of approximately R89.5 million, during the period 2021 - 2022.

The report was presented to the Parliamentary Portfolio Committee on Communications and Digital Technologies by a delegation led by Deputy Minister Mondli Gungubele on Wednesday. 

The department said the Minister has referred the case to the Hawks. 

The KPMG investigation was instituted following the Auditor General of South Africa’s (AGSA) 2021 report which detailed fraudulent activities at the Post Bank. These include multiple incidents of cash theft which have accordingly been reported to the police.

The Ministry has also instructed the Postbank Board to ensure that the recommendations contained in the KPMG report are implemented.

“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,” Minister Malatsi said. – SAnews.gov.za

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