FNB sued for R1.2m over cash that vanished in health department scam

  • 📰 TimesLIVE
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 59%

Law Law Headlines News

First National Bank faces a court fight after failing to sound the alarm when R1.2m in cash was withdrawn from a bank account in two days.

The money came from the health department, which handed it over for dozens of Leep machines, which are used to prevent cancer by removing abnormal cells from the cervix.

When it emerged that Vital did not exist, financier Penquin Airtime sued FNB for the R1,230,500 it lost, saying the withdrawals would not have been possible if the bank had complied with the Financial Intelligence Centre Act .

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

500 billion was withdrawn by 👃🐽🤥and companies and the court decided to ceil records. This one will pass too. Thanks to our judicial SA system.

My sister-in-law got swindled R28 500 by one the low-income-clients' bank which,even the bank ombudsmen failed to detect the scam carried out by a syndicate that operates from within. Can SAns trust these banks,anymore? Just an observation!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 28. in LAW

Law Law Latest News, Law Law Headlines