To        : All Media
Date    : 03 September 2024

The Minister of Communications and Digital Technologies, Hon Solly Malatsi, received the forensic report on governance and financial breaches at the Postbank that compromised the institution and resulted in financial loses 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, 03 September 2024.

Minister Malatsi has now referred the report to the Directorate of Priority Crime Investigation “DPCI”, also known as ‘The Hawks’, in a bid to ensure that those responsible for these crimes are brought to book.

The KPMG investigation was instituted following confirmation by the Auditor General of South Africa (AGSA) in her 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.” concluded Minister Malatsi.

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