Absa Bank

Photo: Supplied

Inside job! ABSA bank exec arrested for allegedly stealing R100m from bank

A different kind of bank heist!
This guy is accused of stealing more than R100 million from ABSA bank while he worked there.

Absa Bank

Photo: Supplied

When one thinks of bank robberies, one thinks of armed men and scenes from the show Money Heist. You don’t immediately think that an ABSA bank specialist employee would end up transferring over R100 million into various accounts. Thankfully, the Hawks got wind and have swooped in.

Inside money heist: ABSA bank employee nabbed by Hawks

A statement from the Directorate for Priority Crime Investigation (Hawks) on Saturday revealed the crime. And it truly does sound like something out of a film.

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The Hawks arrested 30-year-old ABSA Sandton Specialist Engineer Xolela Masebeni on Wednesday. He’s accused of stealing R103 million rand. How? By allegedly transferring the money into six different bank accounts over several transactions. These “fraudulent transfers” allegedly took place between September and December 2021.

“Masebeni was successfully traced and arrested in Queenstown in the Eastern Cape on Wednesday, 19 January. He was charged with theft and appeared in Queenstown Magistrate’s Court the following day. The court remanded Masebeni in custody pending investigation.”

Captain Ndivhuwo Mulamu

More money more problems?

As a result, Masebeni remains behind bars and gets his bail application underway at the Palm Ridge Specialised Commercial Crimes Court on the 27th of January.

But did this one man make all those transfers from ABSA bank with no help and without anyone else being involved? The Hawks warn that due to the nature of the crime, additional charges and arrests can not be ruled out.

Bank with ABSA and notice anything strange on your account? If so, you can report any suspicious activity to the Absa Fraud Hotline.

  • Via the Absa Banking App by using the click to call functionality
  • Call 0860 557 557 or 011 501 5089
  • Report the phishing email as an attachment to Secmon@absa.co.za