A former employee has been sentenced to 15 years for fraud, corruption, and violating the Cyber Crimes Act.
Sifiso Ndlovu, 24, was sentenced on Wednesday by the Johannesburg Specialised Commercial Crimes Court, which met at Palm Ridge.
Ndlovu served as a finance administrator.
According to the National Prosecuting Authority (NPA), Ndlovu used his position to transfer more than R5 million from a dormant account to the accounts of his collaborators.
These conspirators then sent money into his account.
This occurred between June 2022 and July 2022.
“The 24-year-old was found to have engaged in fraudulent activities by bank fraud investigator Johan van Graan,” explained NPA spokesperson Phindi Louw.
“He accessed the FNB mainframe system using his credentials, updated customer remarks, and printed documents, despite being absent from work.
“Video footage showed him placing a document into a bundle for capture by a colleague.”
The NPA said Ndlovu denied the charges against him.
However, the court convicted him on five counts including corruption, fraud and violating the Cyber Crimes Act.
“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.”
The NPA said senior State prosecutor Adele Carstens argued in aggravation of sentence that Ndlovu’s actions undermined the trust essential for commerce to function, as people rely on banks to safeguard their assets.
“By abusing his position, Ndlovu betrayed the trust placed in him and exploited the very institution that employed him.”
Carstens went on to claim that Ndlovu’s actions were not impulsive, but rather a purposeful and thoroughly planned operation, making them much more heinous.
According to the NPA, the court’s judgment sends a clear message that financial crimes would result in severe punishment.
