Between 16 and 28 October last year individuals presumed to be either employed by Postbank or by a Postbank contractor stole over R89 million in physical cash through SASSA accounts. This was achieved, the amaBhungane Centre for Investigative Journalism reports, through illicitly crediting grant beneficiary accounts with large sums and then emptying these accounts out at ATMs. It is the second major security breach since the South African Post Office and its subsidiary Postbank took control of the bulk of the social grant system in 2018. In that year the Postbank “master key”, a digital encryption code safeguarding customer ATM PIN codes and other encrypted means of accessing accounts, was stolen and roughly R56 million was withdrawn.
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