The Minister of Communications and Digital Technologies Solly Malatsi has instructed the Postbank board to ensure that the recommendations contained in the KPMG report are implemented, and he has referred the report to the Directorate of Priority Crime Investigation, also known as the Hawks, to ensure prosecutions.

The KPMG investigation was instituted following confirmation by the Auditor General of South Africa in the 2021 report detailing fraudulent activities at Postbank.

The forensic report on governance and financial breaches at Postbank shows that the institution was compromised, which resulted in financial losses to the value of about R89.5-million, between 2021 and 2022.

The report was presented to the Parliamentary Portfolio Committee on Communications and Digital Technologies by a delegation led by Deputy Minister Mondli Gungubele on Wednesday.

Malatsi said his department would use the full might of the law to fight anyone who “dares rob citizens”.

He highlighted that what made the cash theft “even more repugnant” was that some of the stolen money came from vulnerable social grant beneficiaries.

“I expect decisive action to ensure that public entities are run ethically and with integrity, for the benefit of our citizens, and not criminals,” he stated.