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Three arrested for Postbank heist

Farzana Rasool
By Farzana Rasool, ITWeb IT in Government Editor.
Johannesburg, 07 Feb 2012

Three suspects have been arrested in connection with fraud at the Postbank, says group executive of corporate affairs at the SA Post Office Lungile Lose.

The Postbank, in early January, said a cybercrime syndicate stole R42 million. At the time, it said it would be irresponsible and may work in favour of the criminals to comment on the amount involved, how the fraud was carried out and where it happened, and so details could not be divulged.

Lose says the suspects were arrested last week, but still have to be tried in court.

“That's all that we can say for now. We expect to make more arrests. Quite clearly there are more people on the run and we don't want to aid them with any information on how the arrests were made or anything.”

For this reason, he adds that no comment can be made on the nationality of the suspects or on whether any of the money was recovered.

Future avoidance

Communications minister Dina Pule last month said a task team, established by the Postbank and led by KPMG, would investigate the R42 million heist that hit the institution.

“At this point in time, I have seconded two executives from the DOC [Department of Communications] to work with the task team established by the board to investigate and report to me on the details of this occurrence.”

She added that the police are handling the crime, along with the National Intelligence Agency, and the department has to wait for their report.

The department is also reviewing the systems at the Postbank so that a similar incident does not occur. Democratic Alliance shadow communications minister Natasha Michael previously called on Pule to implement emergency measures and tighten security to protect the poor from incidents like this.

The Postbank is attempting to become a fully licensed bank so that, while remaining state-owned, it may compete with commercial banks.

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