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A former employee of First National Bank has been jailed for 15 years in the Johannesburg Specialised Commercial Crimes Court for fraud, corruption, and violating the cyber-crimes act.
The National Prosecuting Authority said 24-year-old financial administrator, Sifiso Ndlovu “exploited his position to transfer over R5 million from a dormant account into the accounts of his accomplices, who made subsequent transfers into his account 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,” said NPA spokesperson Phindi Mjonondwane.
She Ndlovu was found to have accessed FNB’s mainframe system using his credentials, updated customer remarks, and printed documents despite being absent from work.
Mjonondwane said there was also video footage that showed him placing a document into a bundle for capture by a colleague.
Ndlovu pleaded not guilty but was convicted on five counts including corruption, fraud, and violating the Cybercrimes 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.
