Forensic Report on Postbank Referred to the Hawks

A forensic report by KPMG on the Postbank has been referred to the Directorate of Priority Crime Investigation (DPCI), commonly known as the Hawks, in a bid to hold accountable those involved in significant financial misconduct.

According to the Department of Communications and Digital Technologies, the report was submitted to Minister Solly Malatsi, highlighting governance and financial breaches that compromised the Postbank, leading to financial losses estimated at R89.5 million during 2021-2022.

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

In response, Minister Malatsi has escalated the matter to the Hawks to ensure that criminal proceedings are pursued against those responsible. The KPMG investigation was launched following the Auditor General of South Africa’s (AGSA) 2021 report, which exposed fraudulent activities within Postbank, including multiple incidents of cash theft. These cases have also been reported to the police.

The Ministry has directed the Postbank Board to implement the recommendations from the KPMG report, emphasizing the need for swift and decisive action.

“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.