• IQCompliance

ABSA staff arrested for allegedly stealing and laundering R25m

An ABSA forensic consultant was arrested in Limpopo for fraud after allegedly stealing R25m belonging to the provincial government and attempting to launder it through various accounts.

Hawks spokesperson Capt Matimba Maluleke said the arrest of the 27-year-old man on Friday followed an intelligence-driven operation between the Hawks’ Serious Commercial Crime Investigation team, police members from Waterval and Absa forensic investigators.

“It is alleged that the suspect stole R25m from the provincial government accounts and deposited it into different accounts that he had opened"

“Despite the clandestine efforts by the suspect, the team painstakingly managed to trace and freeze the complex web of the bank accounts linked to him,” Maluleke said.

He said the suspect was arrested at his workplace and his house was searched where four Absa ATM cards, two withdrawal slips and R2,030 in cash were found and seized.

The suspect will make his first appearance in the Waterval magistrate’s court on Monday 27 July 2020 , to face fraud charges.

Maluleke said the investigation was still ongoing and more arrests were imminent.




IQ Compliance (Pty) Limited is registered in South Africa 2019/475168/07.  

BBBEE Exempted Micro Enterprise.

Specialists in FICA compliance for accountable and reporting institutions, we work throughout South Africa with a focus on Cape Town, Johannesburg, Durban and Pretoria.


010 021 0300

(c) 2020 IQ Compliance (Pty) Ltd. All Rights Reserved. Click here to view website policies and email disclaimer