Funds returned: NPA recovers R21.55 million stolen from company in WhatsApp banking scam - IOL

R21.55m recovered after Middelburg company targeted in online banking scam.

The National Prosecuting Authority’s (NPA) Asset Forfeiture Unit (AFU) in Mpumalanga has recovered at least R21.55 million stolen from a Middelburg company in a sophisticated online banking scam.

The funds were recovered after the Mpumalanga Division of the High Court, sitting in Middelburg, granted three forfeiture orders against money held in nine bank accounts linked to the suspected fraud.

The orders were granted on 15 and 21 September 2026, following an urgent preservation order obtained by the AFU on 12 June 2026.

National Prosecuting Authority (NPA) regional spokesperson Monica Nyuswa said the matter began on in May 2026 when the financial manager of Jormid Electrical (Pty) Ltd received WhatsApp messages purportedly from ABSA Bank.

Nyuswa said the messages claimed that suspicious transactions had been detected on the company's business account and asked her to confirm whether the transactions were legitimate.

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

"The caller convinced her that he was assisting with the cancellation of 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 had already been processed from the company's account," said Nyuswa.

Approximately R21.55 million had been transferred.

The company immediately reported the matter to ABSA's Fraud Department, while a criminal case was opened with the South African Police Service in Middelburg.

The case was referred to the AFU in Mpumalanga.

The AFU launched a financial investigation and enlisted the assistance of the Financial Intelligence Centre (FIC).

Following an intervention request from the AFU, the FIC analysed the transactions and issued directives that resulted in funds being frozen in nine bank accounts suspected of receiving the proceeds of the fraud.

The AFU then approached the Middelburg High Court on an urgent ex-parte application.

In June 2026, the court granted a preservation order preventing the suspected proceeds of crime, valued at approximately R21.55 million, from being dissipated while forfeiture proceedings were pursued.

The subsequent forfeiture orders granted on 15 and 21 September marked the conclusion of the asset recovery process.

According to the NPA, the full amount stolen from Jormid Electrical was recovered and returned to the company.

The company therefore suffered no financial loss as a result of the scam.

The NPA said the recovery demonstrated the importance of cooperation between law enforcement agencies, the FIC and the AFU in tracing and recovering proceeds of financial crime.