The report was initiated following the Auditor General's 2021/22 report and Minister Solly Malatsi has referred it for criminal investigation
The report was initiated following the Auditor General's 2021/22 report and Minister Solly Malatsi has referred it for a criminal investigation.A forensic report revealing staggering levels of fraud at Postbank has been referred to the Hawks.
“The KPMG report on Postbank reveals frightening fraud. We will use the full might of the law to fight anyone who dares rob citizens,” the minister stated. Postbank offers a host of banking services to the public and is also a primary distributor of Sassa grants. In the same portfolio committee meeting it was revealed that the South African Post Office is facing a liquidity crisis.The SOE could run out of funds as early as next month and Malatsi’s Democratic Alliance colleagues called on him to seek the help of the private sector.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Postbank shenanigans to be revealed soon as Malatsi refers KPMG report to HawksThe minister says he has received the forensic report on governance and financial breaches at Postbank, which resulted in financial losses of R89. 5 million, during the period 2021–2022.
Read more »
South Africa’s R89-billion wind power boomSouth Africa’s wind industry is growing rapidly, attracting billions in investments and creating thousands of jobs.
Read more »
Deutsche Bank strikes deal with Postbank ex-shareholdersDeutsche Bank said it had settled a dispute with dozens of former shareholders of Postbank.
Read more »
Public servants demand 12% wage hike, and Postbank cheated out of R100 millionHere are 5 important things happening in South Afr4ica today (5 September 2024).
Read more »
Postbank suffered financial losses of close to R89 million: Report - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Min Solly Malatsi has revealed that the money that was stolen at Postbank included social grants.
Read more »
Nafiz Modack trial: Cross-examination of Hawks detective to continue on MondayModack and 14 of his co-accused were back at the Western Cape High Court on Thursday, facing more than 100 criminal charges.
Read more »