- Jormid Electrical lost R21.55 million in an elaborate online banking scam.
- The scam started with WhatsApp messages, then a fake call from someone claiming to be an ABSA fraud official.
- The High Court has ordered the return of funds frozen in nine bank accounts to the targeted company.
A sophisticated online banking scam has left Middelburg company Jormid Electrical (Pty) Ltd short R21.55 million after fraudsters allegedly impersonated ABSA fraud officials and tricked its financial manager into approving fraudulent transactions.
The scam unfolded on 21 May 2026, when the company’s financial manager received WhatsApp messages that claimed suspicious transactions had been detected on Jormid Electrical’s business account. The messages asked her to confirm whether the transactions were legitimate.
After she replied that she didn’t recognise the transactions, a man phoned her, introducing himself as an official from ABSA’s Fraud Division. He said he was helping her cancel the suspicious transactions and instructed her to approve several electronic links that were sent to her cellphone.
Thinking she was protecting the company’s account, she approved the requests.
Millions vanished during the call
While she was still on the call, a colleague warned her that several unauthorised transactions had already gone through the company’s account.
By the time they realised what had happened, about R21.55 million had already been moved into various bank accounts linked to people suspected of receiving the stolen funds.
The incident was reported straight away to ABSA’s Fraud Department, and a criminal case was opened with the South African Police Service.
High Court orders money returned
The National Prosecuting Authority’s Asset Forfeiture Unit got an urgent preservation order from the High Court in Middelburg on 12 June 2026, freezing funds in nine bank accounts while the investigation continued.
The court later granted three forfeiture orders on 15 and 21 September 2026 for the money in those accounts, ordering that the funds be returned to Jormid Electrical.
These forfeiture orders led to the recovery of about R21.55 million for the Middelburg company.
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