Three people, allegedly part of a syndicate involved in the audacious theft of R42-million from Postbank, have been arrested.

South African Post Office spokesman Lungile Lose said last night that two of the suspects were Post Office employees.

"We can confirm that they were arrested last week following an internal investigation," Lose said.

He said a task team, forensic experts as well as Post Office staff were responsible for apprehending the three suspects.

"Appreciation should be given to employees who are committed to uprooting corruption in the South African Post Office," he said.

The Sunday Times revealed last month that a syndicate had infiltrated Postbank's computer network and withdrawn more than R42-million over the first three days of this year.

The theft was allegedly committed by a syndicate with knowledge of the Post Office's information technology system.

The syndicate opened several Postbank accounts across the country late last year, and during the New Year holiday period gained access to a Rustenburg Post Office employee's computer and made deposits from other accounts into its own.

Over the next three days, automated teller machines in Gauteng, Free State and KwaZulu-Natal were used to withdraw cash from the accounts.

Lose said the three did not reveal who the other members of the syndicate were. He was unsure when they would appear in court.

The Sunday Times reported that a task team had been set up last month to investigate the theft.

Communications Minister Dina Pule said investigators would examine Postbank's security systems and make recommendations on how to avoid a repeat of the big hi-tech scam.

Pule said at the time that she had seconded her department's director-general, Rosey Sekese, and deputy director-general for finance, Sam Vilakazi, to the task team.

Auditing firm KPMG had also been appointed to assist and Pule hoped to receive its findings before the end of last month.

The police's Brigadier Thulani Ngubane told the Sunday Times at the time: ''There will be arrests on this matter very soon.''

The South African Banking Risk Information Centre was also helping the police investigation, the newspaper reported.

Sabric CEO Kalyani Pillay warned that criminal syndicates were finding more sophisticated ways of defrauding banking institutions, thanks in part to the ease of access to information via the internet. Last year, about R46-million was stolen through electronic banking scams.

Postbank, which is hoping to get a full banking licence, is not a member of Sabric.