The Johannesburg specialised commercial crimes court on Wednesday sentenced a former First National Bank financial administrator to 15 years in prison for fraud, corruption and violating the Cybercrimes Act,
Sifiso Ndlovu, 24, exploited his position to transfer more than R5m from a dormant account into the accounts of his accomplices, who made subsequent transfers into his account between June 2022 and July 2022, said National Prosecuting Authority spokesperson Phindi Mjonondwane.
Ndlovu’s fraudulent activities were discovered by bank fraud investigator Johan van Graan.
Ndlovu 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,” said Mjonondwane.
Ndlovu pleaded not guilty but was convicted on five counts including corruption, fraud and violating the Cybercrimes Act. He was sentenced to 15 years for each offence, with the court ordering the sentences to run concurrently, resulting in a total effective sentence of 15 years.
TimesLIVE
