AFU recovers R21.55 million stolen in sophisticated online banking scam

The NPA’s Asset Forfeiture Unit has secured the recovery of approximately R21.55 million fraudulently stolen from a Mpumalanga company in a sophisticated online banking scam.

The Asset Forfeiture Unit (AFU) in Mpumalanga secured three forfeiture orders in the Mpumalanga Division of the High Court, sitting in Middelburg.

The orders, granted on September 15 and September 21, 2026, allow funds held in nine bank accounts to be forfeited and returned to Jormid Electrical (Pty) Ltd, a Middelburg-based company.

The AFU previously obtained an urgent preservation order on June 12 in terms of Section 38 of the Prevention of Organised Crime Act.

The case stems from a cybercrime scheme in which about R21.55 million was unlawfully transferred from the company’s bank account into several accounts allegedly linked to individuals suspected of receiving the proceeds of the fraud.

The scam began on May 21, when the company’s financial manager received WhatsApp messages purporting to be from ABSA Bank.

The messages claimed that suspicious transactions had been detected on the company’s business account and asked her to confirm whether they were legitimate.

After she indicated that she did not recognise the transactions, she received a telephone call from a person who falsely claimed to be an ABSA Fraud Division official.

The caller allegedly convinced her that he was assisting with cancelling the fraudulent transactions and instructed her to approve several electronic links sent to her cellphone.

While she was still on the call, a colleague alerted her that numerous unauthorised transactions totalling approximately R21.55 million had already been processed from the company’s account.

The matter was immediately reported to ABSA’s Fraud Department, while a criminal case was subsequently opened with the South African Police Service.