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IOL News reports that a former FNB employee has been jailed to an effective 15 years for fraud, corruption and violating the Cyber Crimes Act.
Sifiso Ndlovu, 24, was sentenced in the Johannesburg Specialised Commercial Crimes Court on Wednesday. He worked as a financial administrator. According to the National Prosecuting Authority (NPA), Ndlovu exploited his position to transfer over R5 million from a dormant account into the accounts of his accomplices, who subsequently transferred money into his account. This took place between June 2022 and July 2022. Ndlovu accessed the FNB mainframe system using his credentials, updated customer remarks, and printed documents, despite being absent from work. He was sentenced to 15 years imprisonment for each offence, with the court ordering the sentences to run concurrently, resulting in a total effective sentence of 15 years. In aggravation of sentence, the state argued that Ndlovu's actions undermined the trust essential for commerce to function, as people relied on banks to safeguard their assets.
- Read the full original of the report in the above regard by Jolene Marriah-Maharaj at IOL News
- Read too, Former FNB financial administrator gets hefty sentence for stealing R5m, at TimesLIVE
Get other news reports at the SA Labour News home page