An employee of Standard Bank has been accused of allegedly stealing close to E500 000 from clients’ accounts and various suspense accounts at the Manzini branch.
The theft, which reportedly took place between June 2020 and December, was uncovered through an internal audit conducted by the bank.
According to police reports, money amounting to E453 763 went missing from multiple customer accounts and suspense accounts over the period.
Suspense accounts are temporary internal accounts used to hold funds when a transaction cannot be immediately completed or properly allocated. Unlike regular customer accounts, they are not meant for long-term storage of money or routine transactions.
Standard Bank confirmed the incident but declined to provide further details, stating that the matter had been reported to the relevant authorities.
“The bank has a well-established process in place which guides how such matters are addressed, in line with applicable law and regulating requirements,” said Standard Bank Communications CSI Specialist Brand and Marketing Nomawethu Jonga.
Acting Chief Police Information and Communications Officer Assistant Superintendent Nosipho Mnguni confirmed receiving a report about the theft, adding that investigations were ongoing.
Sources claimed that the employee implicated in the matter has since resigned from the institution. It was further reported that several other employees resigned following the conclusion of the audit, though no official confirmation had been made linking the resignations directly to the findings.
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Meanwhile, other cases of financial theft have recently surfaced. Just weeks ago, Sipho Mngometulu (32) of Ncandvweni lodged a complaint with Big Bend police after discovering that about E31 000 had been withdrawn from his bank account without his knowledge. He said he noticed the discrepancy when attempting to withdraw money from an auto teller machine (ATM). An investigation was immediately launched into the matter.
This case adds to a growing list of similar incidents. An elderly man from Siphofaneni also reported theft from his account, which was later traced to his son.
In another case, a businessman, Moses Matsebula (69) reported that about E288 000 had gone missing from a safe at his residence in Nyakeni. Police investigations pointed to his romantic partner, a 30-year-old woman, who allegedly gained access to the safe while they lived together. Preliminary findings indicated that the money was stolen in pieces over a prolonged period.
Authorities continue to investigate these cases, which highlight a troubling trend of financial theft affecting both banking institutions and individuals across the country.
