Swazi Observer

FULL STORY

E15M RECOVERED IN EPTC THEFT

By Bodwa Mbingo | 2019-08-17

At least E15 million has been recovered from the E16 million that was looted within a space of three days at the Eswatini Posts and Telecommunications Corporation (EPTC) last weekend.

On Thursday morning, the country woke up to screaming headlines carried by the Swazi Observer that EPTC has been defrauded a total of E16 million, but thanks to concerted efforts by the telecommunications company, their bankers and the Royal Eswatini Police Service, only E1 million of the chuck now stands to be recovered.

EPTC Managing Director (MD) Petros Dlamini yesterday allayed any fears on their stakeholders and the entire nation, boldly stating that while they had recovered the largest chunk of the stolen money they would not end there, but the perpetrators would definitely be brought to book. This was during a joint press conference by EPTC and the police at the former’s boardroom in Mbabane.

Information gathered is that the amount was stolen within a space of three days by fraudsters who used internet banking to transfer the money from EPTCs accounts.

“Eswatini Posts and Telecommunications Corporation has been a victim of a recent cybercrime wherein certain amounts were unlawfully transferred out of its bank accounts locally. The exact amounts stolen as a result of this crime are still subject to confirmation, but initial indicators suggest that the figure could be around E16 million. With the assistance of key stakeholders including our bankers and Royal Eswatini Police, we have been able to recover most of the misappropriated amounts,” he said.

Combat

Dlamini further noted that cybercrime is a highly technical and complex phenomenon and, therefore, requires utmost consideration to combat it. He sounded confident that with the support of their external forensic partners and the vigilant Eswatini police, their investigations shall leave no stone unturned.

“It is regrettable that such a situation has befallen the corporation. We would, therefore, like to sincerely apologise to our stakeholders and the entire nation for any inconvenience caused,” he concluded.

Of note is that EPTC staged its Charity Cup tournament on Sunday at the Somhlolo National Stadium, which had the stadium filled to the rafters and the assumption is that while the telecommunications company was busy with preparations for this event, the thieves were making away with the millions of Emalangeni.

According to the Swazi Observer sources, this scam reportedly started last Friday and went on to Saturday and Sunday. It has been gathered that after noting the huge money being transferred from the company’s coffers, financial officers quickly alerted the police fraud department and informed them that they had been hit by a cybercrime syndicate.

Police from the Fraud and Commercial Crimes Unit, which is a department responsible for the investigation of cases pertaining to fraud and associated white collar crimes, acted quickly and stopped the transfers by freezing the accounts where the money was deposited into.

National Commissioner (NatCom) of Police William Dlamini warned companies and banks to be on the lookout for cybercrime activities in their organisations.

“We as the Royal Eswatini Police Service wish to alert companies and financial institutions to be on the lookout for any suspicious transactions on their banking accounts. They should continue strengthening mechanisms to guard against hacking their systems and immediately report to the police anything suspicious on the movement and/or transfer of monies from their accounts,” he warned.

No arrests made yet – NatCom

Although some people have been called in for questioning, National Commissioner (NatCom) of Police William Dlamini told members of the media that no arrests have yet been made in connection with the E16 million fraud at EPTC.

Justifiably economical with more information in a bid not to disturb ongoing investigations into the matter, Dlamini further stated that they cannot divulge the names of those that were questioned until arrests have been made and charges preferred. “Anyone can be called in to assist the police in whatever investigation.

The only time we can divulge names is when they appear before the court of law to answer to any charges preferred against them,” stated the NatCom.

The Swazi Observer reported yesterday that at least four people had been taken in for questioning. It was disclosed that these are believed they could be of help in cracking the theft case that has left not only EPTC shocked, but other companies which fear that they might face the same scenario.

Assistant Police Information and Communications Officer (PICO) Nosipho Mnguni confirmed that police brought in some people for questioning.

She said so far police had taken in four people and more were still to be questioned. Mnguni explained that this does not mean that those taken in have been arrested. She said it is procedure for police to take some people of interest for questioning if they are working on a case.

Police appoint Task Team

The Royal Eswatini Police Service (REPS) has appointed a three-member Task Team of experts in cybercrime to investigate the theft of E16 million at Eswatini Posts and Telecommunications Corporation last weekend.

The team is composed of Dumisa Ngwenya who will lead it, Nicholas Jele and Mpendulo Dlamini. The Task Team was unveiled by National Commission of Police William Dlamini.

“In respect of the incident that has take place at Eswatini Posts and Telecommunications Corporation, we have appointed a team specialising in fraud and commercial crimes working in collaboration with EPTC to carry out full investigations to establish the identity of the perpetrators,” he announced.

The NatCom further urged members of the public with information pertaining to the crime to contact Ngwenya at 7606 4057, Jele at 7612 6540 or Dlamini at 7603 4660.

Numerous banks involved in matter

Eswatini Posts and Telecommunications Corporation (EPTC) Managing Director (MD) Petros Dlamini clarified that not only Nedbank, but a number of other banks are involved in the investigations.

He said him mentioning Nedbank in the entire matter was because the financial institution is their banker.

Dlamini was clarifying to members of the media after questions were posed why only Nedbank had been invited to the press conference and if they were implicated in the fraud.

Dlamini, when addressing the media, had disclosed that Nedbank MD Fikile Nkosi was supposed to be part of the briefing, but unfortunately could not make it.

share story