SASSA old age pensioners
Did you know many major South African metros offer indigent benefits for old age pensioners to help reduce their bills? Here’s more … Image: SASSA

Home » Postbank’s multi-million-Rand plan to stop looting of SASSA grants

Postbank’s multi-million-Rand plan to stop looting of SASSA grants

After technical glitches and rampant looting of SASSA grants, there’s a multi-million-Rand cybersecurity plan in place for Postbank.

06-10-23 09:11
SASSA old age pensioners
Did you know many major South African metros offer indigent benefits for old age pensioners to help reduce their bills? Here’s more … Image: SASSA

At a briefing last week on the looting of SASSA grants, Postbank chief executive Ntomboxolo Mbengashe detailed a new multi-million-Rand cybersecurity plan.

TRENDING: Increase for SASSA grants come into effect 1 October 2023

Unbelievably, in two months in 2021, there was a R90 million looting of SASSA grants. This is what forced the upgrading of Postbank’s cybersecurity. The introduction of the new system is what was blamed for the most recent technical glitches. Last month more than 600 000 old-age grants were paid late.

LOOTING OF SASSA GRANTS

Several SASSA grants INCREASES next WEEK - Here is what you should know
Picture: File.

Mbengashe told the portfolio committee that beleaguered recipients suffered so, once KPMG unearthed the R90 million-worth of looting of SASSA grants. Government-run Postbank is contracted by the South African Social Security Agency (SASSA) to distribute social grants. These go out to more than 18.2 million beneficiaries each month.

ALSO READ: SASSA grants INCREASE next month for pensioners

Several officials at the bank who helped siphon the SASSA money were suspended and disciplined. Communications and Digital Technologies Minister, Mondli Gungubele, said government was positive it would not encounter more technical glitches. The entire Postbank board was recently fired for its poor governance, which included an illegal R140-million contract with an IT/software company.

ALSO READ: South African food-price crisis: Here’s what’s at stake

What do you think of the rampant looting of SASSA grants? Be sure to share your thoughts with our audience in the comments section below. And don’t forget to follow us @TheSANews on Twitter and The South African on Facebook for the latest updates.

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