The Limpopo Provincial Commercial Crime Unit has arrested four men in Middelburg, aged between 28 and 43, for fraud and money laundering amounting to R767,400.

The arrests were carried out on Wednesday following an intensive investigation.

According to reports, in October 2022, the complainant received a phone call from an individual posing as a representative of a banking institution in Giyani, offering assistance with his banking profile.

The victim later discovered that a total of R767,400 had been transferred from his account and immediately withdrawn.

Investigations revealed that the stolen funds were initially transferred into a single account, before being distributed across four different accounts.

Warrants of arrest were issued, leading to the apprehension of the suspects.

The arrested individuals, aged 28, 31, 36, and 43, are scheduled to appear before the Giyani Magistrate’s Court today.

The accused face the following charges: Count 1: Fraud (Alternative: Theft), Count 2: Money Laundering (Contravention of Section 4 read with Sections 1 and 8 of the Prevention of Organised Crime Act 121 of 1998), Count 3: Assisting another to benefit from proceeds of unlawful activities (Contravention of Section 5 read with Sections 1 and 8 of Act 121 of 1998) and Count 4: Acquisition, possession, or use of proceeds of unlawful activities (Contravention of Section 6 read with Sections 1 and 8 of Act 121 of 1998).

“Fraud and money laundering have a devastating impact on individuals and businesses. We urge the public to remain vigilant against banking scams and to report any suspicious activities to the police,” Lieutenant General Thembi Hadebe said following the arrests.

The accused had not been named by police.