The 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.
More details of alleged governance and financial breaches at Postbank will come to light after Minister of Communications and Digital Technologies Solly Malatsi referred a KPMG forensic report to the Hawks. Picture: Postbank FacebookMore details of alleged governance and financial breaches at Postbank will come to light after Minister of Communications and Digital Technologies Solly Malatsi referred a KPMG forensic report to the Hawks.
The KPMG investigation was instituted following confirmation by the Auditor-general of South Africa in her 2021 report, which detailed fraudulent activities at Postbank.Malatsi said: “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.
In September last year, corporate tensions boiled over at the state-owned entity, which led to the mass resignation of the Postbank board. Gungubele revealed more details at the Postbank AGM: “In July 2023, KPMG requested a meeting with me wherein two damning forensic investigation report were tabled. As most of you in this room are aware, KPMG was appointed to conduct two forensic investigations into allegations of theft from Postbank through cash-out incidents.
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