Standard Bank employee ‘steals’ R6.3 million in clever scam

A former Standard Bank software expert, who also happens to be an illegal immigrant, allegedly stole nearly R6.3 million from the financial institution by adding zeros to inflate the amounts in transactions conducted by people he supposedly knew. 

According to the National Prosecuting Authority (NPA), in less than a month between 13 July and 3 August 2017, Henry McMurray  interfered with 25 transactions at Standard Bank and allegedly made off with R6 279 716.11 through bogus payments before he was caught. 

The NPA’s charge sheet shows how McMurray allegedly used the Standard Bank accounts of six “acquaintances” — including his co-accused Augustin Ifeanyi Anosike — to “interfere and/or inflate the balances of those accounts for the benefit of himself (McMurray) or the benefit of [his acquaintances]”. 

An example of the scam was a 21 July 2017 transaction, when R47 was actually paid into Anosike’s account, but the amount was “inflated” by adding three zeros at the end of the deposit to reflect that Anosike had R47 000 in the bank. 

The state claims that McMurray began his crimes on 13 July 2017 when he allegedly changed the R500 reflected in Anosike’s account to R500 000, again by adding three zeros.