R21,55 million recovered after Middelburg company falls victim to banking scam

MIDDELBURG — About R21,55 million stolen from a Middelburg company in an alleged online banking scam has been recovered following three forfeiture orders granted by the Mpumalanga Division of the High Court, sitting in Middelburg.

The orders were secured by the National Prosecuting Authority’s (NPA) Asset Forfeiture Unit (AFU) in Mpumalanga on 15 and 21 September 2026. They followed an urgent preservation order obtained by the AFU on 12 June under Section 38 of the Prevention of Organised Crime Act (POCA).

The case involves Jormid Electrical (Pty) Ltd, whose financial manager was targeted on 21 May after receiving WhatsApp messages from people allegedly posing as ABSA Bank officials.

The messages warned her about suspicious transactions on the company’s business account and asked her to confirm whether she had authorised them.

After she indicated that she had not, a caller claiming to be from ABSA’s Fraud Division contacted her.

According to the NPA, the caller convinced her that he was assisting her to cancel the fraudulent transactions and instructed her to approve several electronic links sent to her cellphone.

While she was still speaking to the caller, a colleague alerted her that something was wrong.

By then, numerous unauthorised transactions had been processed, with approximately R21,55 million transferred from the company’s account.

Jormid Electrical immediately contacted ABSA’s Fraud Department, and a criminal case was opened with the South African Police Service (SAPS).

According to the NPA, the money was transferred into multiple bank accounts allegedly linked to individuals suspected of receiving the proceeds of the fraud.

The AFU subsequently obtained a preservation order, securing funds held in nine bank accounts while the matter was investigated.

The High Court has since granted three forfeiture orders, resulting in the recovery of approximately R21,55 million for Jormid Electrical.

The case highlights how fraudsters can use convincing messages and telephone calls while impersonating bank officials to create a sense of urgency and gain the trust of their victims.

In this case, the alleged fraudsters used WhatsApp messages, a telephone call and what appeared to be a genuine banking emergency to convince the financial manager to follow their instructions.

For Jormid Electrical, intervention by the authorities ultimately resulted in the recovery of the approximately R21,55 million allegedly stolen from the company.