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HomeNewsCrimeFormer Absa Bank Employees Sentenced For Fraud And Money Laundering

Former Absa Bank Employees Sentenced For Fraud And Money Laundering

Owusu and Tyusha leveraged their positions within Absa Bank to commit these crimes. Owusu worked as a consultant at the Patensie branch, while Tyusha was transferred to the Dutywa branch.

Two former Absa Bank employees in the Eastern Cape have been sentenced to 15 years imprisonment for fraud and money laundering involving over R1 million.

Florika Shenay Owusu, 31, and Abongile Tyusha, 30, were sentenced by the Gqeberha Specialised Commercial Crimes Court for their criminal activities conducted between November 2019 and June 2021.

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Provincial spokesperson for the Directorate for Priority Crimes Investigations (Hawks), Warrant Officer Ndiphiwe Mhlakuvana, provided insight into the operational details of the fraudulent scheme.

Owusu and Tyusha leveraged their positions within Absa Bank to commit these crimes. Owusu worked as a consultant at the Patensie branch, while Tyusha was transferred to the Dutywa branch.

Their primary responsibilities were to issue clients with bank cards and assist with bank inquiries. However, they went beyond their duties and fraudulently opened bank accounts in the names of deceased individuals and foreign nationals without their knowledge.

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The two former employees issued debit cards for these accounts to facilitate fraudulent transfers and withdrawals. They reactivated 18 dormant accounts, predominantly belonging to foreign passport holders and deceased South African citizens.

The fraudulent activity resulted in cash withdrawals from these accounts, leading to a loss of over R1 million for Absa Bank. At the time, Absa employees were not permitted to disclose any information without the client’s consent, making the actions of Owusu and Tyusha a serious breach of protocol.

The court sentenced Owusu and Tyusha to five years for fraud and theft, and ten years for money laundering, with four years suspended for five years on the condition that they do not violate the Organised Crime Act during that period.

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Their arrest came after an internal audit was conducted at the bank, bringing their illicit activities to light. This case serves as a stark reminder of the importance of internal controls and the severe consequences of breaching trust and engaging in fraudulent activities.

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Parusha Naidoo for SurgeZirc SA
Parusha Naidoo for SurgeZirc SA
Parusha Naidoo is a skilled journalist who writes local and world news for SurgeZirc South Africa. With a passion for delivering accurate and reliable information, Parusha has become a trusted voice in the news industry. With years of experience in the field, Parusha has developed a keen eye for identifying important stories and presenting them in a clear and concise manner.
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