This week our case took place at the Pretoria Specialised Commercial Crimes Court. We have Francois Malekana, he was a former contract manager at Workforce Staffing and Mlungisi Sakala who was a HR manager at National Rubber Matmin. Francois created “ghost employees” using the details of three former staff members. He changed their bank account […]
Introduction Financial crime is no more physical or paper-based. It is now digital, fast and boundless. As organisations continue to digitise services and customer interactions, the line between cybersecurity and financial crime continues to blur. Criminals have ensured that their methods and technology continue to evolve into more sophisticated, technology-driven systems. The Shift Financial crime
This week is an update regarding the case I posted 2 weeks ago, the Department of Education Mpumalanga Schools Tender Fraud. Recap A director was arrested along with 37 others who are suspected to be allegedly involved in a R114 million schools tender fraud. The accused included senior government officials, service providers, tertiary students and
My Insight At its core, this was not just a failure of compliance, but a failure of professional integrity. The client’s initial request was limited and specific, yet the advice given resulted in a significantly more damaging financial outcome. The undisclosed financial relationship with a third party introduces a clear conflict of interest, where personal
Red flags serve as early warning systems, allowing for proactive protection of an institution and the financial system” — AML Red Flags Summary Introduction In a fast-paced environment, where deadlines, volume, and targets take priority, these following warning signs can easily be dismissed as routine activity. However, when these red flags are overlooked, it can expose
