FNB branch operations manager arrested for ‘R4m forex fraud’

17 November 2021 - 13:49
Zandile Sibiya allegedly fraudulently processed forex payments. Stock photo.
Zandile Sibiya allegedly fraudulently processed forex payments. Stock photo.
Image: 123RF/Olivier Le Moal

A FNB branch operations manager has appeared in court for allegedly defrauding the bank of R4m in forex payments over two years.

Hawks spokesperson Capt Ndivhuwo Mulamu said Zandile Sibiya, 39, who worked at the Newtown branch, allegedly fraudulently processed forex payments with international banking centre system transactions and transferred about R4m into her account.

The fraud allegedly happened between September 2019 and August 2021.

“Through FNB’s forensic analysis the matter was referred to the Hawks’ serious commercial crime investigation unit at the Johannesburg office for further investigation.

“An extensive investigation was conducted which granted a warrant of arrest for Sibiya’s apprehension,” Mulamu said.

Sibiya, from Ormonde, handed herself over to authorities on Tuesday and appeared in the Palm Ridge specialised commercial crimes court on the same day.

She was granted R10,000 bail and the matter was postponed to January 18.

TimesLIVE


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