A Middelburg company has recovered the full R21.55 million stolen from its bank account in an online banking scam after the Asset Forfeiture Unit (AFU) secured three forfeiture orders in the Mpumalanga Division of the High Court.
Moonstone reported in June that the funds had been frozen and preserved while the AFU pursued forfeiture proceedings.
The National Prosecuting Authority (NPA) said the scam began on 21 May 2026 when Jormid Electrical’s financial manager received WhatsApp messages purporting to be from Absa.
The messages claimed that suspicious transactions had been detected on the company’s business account and asked whether they had been authorised.
After indicating that the transactions were not recognised, the financial manager received a telephone call from a person claiming to work for Absa’s Fraud Department.
According to the NPA, the caller claimed to be assisting with the cancellation of fraudulent transactions and instructed the financial manager to approve several electronic links sent to the financial manager’s cellphone.
While the call was still in progress, a colleague alerted the financial manager that numerous unauthorised transactions amounting to about R21.55m had been processed from the company’s account.
The matter was immediately reported to Absa’s Fraud Department, and a criminal case was subsequently opened with the South African Police Service in Middelburg.
The matter was referred to the AFU in Mpumalanga on 29 May. The unit launched a financial investigation and requested the assistance of the Financial Intelligence Centre (FIC).
According to the NPA, the FIC conducted an analysis and issued directives that resulted in funds being frozen in nine bank accounts suspected of receiving the proceeds of the fraud.
Armed with evidence gathered during the investigation, and following the FIC’s intervention, the AFU approached the High Court on an urgent, ex parte basis.
On 12 June, the court granted a preservation order against the nine accounts under section 38 of the Prevention of Organised Crime Act (POCA). The order prevented the suspected proceeds of crime from being dissipated while the AFU pursued forfeiture proceedings.
The NPA said the High Court granted three forfeiture orders on 15 and 21 September. The orders authorised the forfeiture of the funds held in the nine accounts and their return to Jormid.
According to the NPA, Jormid recovered the full amount and suffered no financial loss.
The NPA’s latest statement did not provide an update on the criminal investigation or indicate whether anyone has been arrested or charged.
