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The New Year's Day heist of R42 million from the South African Postbank points to serious flaws in the entity’s security systems.

The security of these systems has important implications for poor South Africans. The bank not only targets low-income earners and provides banking services in poor rural areas, but its systems are used in the payment of social grants.

I will be submitting a series of parliamentary questions to the Minister of Communications, Dina Pule to determine:
Which company was used to install cyber security systems for the Postbank Trust Centre;
How these systems are monitored;
Why the security systems, implemented at a cost of R15 million three years ago, failed;
How often the systems are checked for weaknesses; and
Who has access to the security systems?
The National Intelligence Agency (NIA) has launched an investigation into this heist.

However, in addition, I will today be writing to Minister Pule to ask that she puts in place emergency interim measures to test the robustness of the Postbank’s security systems, and implement improved checks and balances to ensure that all funds are kept safe.

The Postbank system is used in the payment of grants as it allows funds to be paid directly into the accounts of grant beneficiaries. More than 15 million South Africans benefit from the almost R100 billion in social grants paid annually by the Department of Social Development.

If the security of Postbank’s systems is weak, as the New Year’s Day heist has shown, the potential for the fraudulent payment of grants is enormous.

Minister Pule must take swift action to ensure that the integrity of Postbank’s systems is improved, and that South Africans, particularly grant recipients, are protected from their potential abuse.