An ex-bank worker in South Africa has been accused of fraud after allegedly using client details to secure personal loans. The case, which is currently before the Polokwane Magistrate’s Court, has raised fresh concerns about insider fraud in the country’s banking sector.
The accused, Rachel Tsakani Bloko, was arrested in September 2025 and charged with defrauding clients of R130 000. Her arrest follows other convictions that show a clear trend: some bank employees are misusing privileged access to exploit customers.
The Polokwane Case: Rachel Tsakani Bloko
On 24 September 2025, the Polokwane Magistrate’s Court granted bail of R5 000 to Rachel Tsakani Bloko (38).
According to Brigadier Hlulani Mashaba, Bloko used clients’ personal information without their knowledge to apply for loans. Victims only discovered the loans when they were contacted about unpaid accounts.
The Commercial Crime Investigation Unit investigated the matter, leading to a warrant of arrest. The case was postponed to 24 October 2025 for further investigation.
The allegations suggest Bloko exploited her insider knowledge to bypass safeguards and create fraudulent applications. If proven, the scheme left clients responsible for debts they never authorised.
Another Ex-Bank Worker Sentenced in Gqeberha
Bloko’s case follows another high-profile conviction. In July 2025, the Gqeberha Regional Court sentenced Lusanda Gloria Qose, a 35-year-old former FNB consultant, to five years in prison.
Between January and April 2024, Qose altered a 68-year-old client’s profile by changing his registered cellphone number. This allowed her to intercept One-Time-Pin (OTP) authorisations and access his accounts.
She then created a duplicate card, transferring funds and withdrawing R245 000 over three months. The court found her actions sophisticated and premeditated, involving multiple breaches of the bank’s systems.
Although the victim was reimbursed, Qose repaid R87 000 from her pension fund. The National Prosecuting Authority (NPA) confirmed her conviction for fraud, cyber fraud, and unlawful use of access credentials.
Insider Fraud on the Rise
The South African Banking Risk Information Centre (SABRIC) has warned that fraudulent loan and credit applications are increasing across the country. These scams often involve insider collusion, with employees recruited by syndicates to help bypass verification checks.
Fraud hotspots include Gauteng, KwaZulu-Natal, and Limpopo. Losses are counted in millions of rand each year, with the problem eroding public confidence in financial institutions.
For victims, the consequences are serious. Fraudulent loans damage credit records, create financial stress, and often lead to lengthy disputes with banks. Even when refunded, clients may suffer reputational and emotional harm.
Lessons from International Cases
Other countries have also seen harsh penalties for insider fraud.
- In the United States, former bank employee Kalien Frazier was charged in 2024 with wire fraud and aggravated identity theft after stealing and selling customer data. If convicted, he faces decades in prison.
- In another U.S. case, a Wells Fargo worker was banned from the industry after selling client data that led to fraud worth more than US$600 000.
These examples highlight that insider abuse is a global issue and that regulators worldwide treat it as a serious crime.
Why Employees Commit Fraud
Experts identify several reasons why insiders turn to fraud:
- Financial stress, leading to temptation.
- Pressure from syndicates seeking inside access.
- Weak monitoring systems that make it easier to hide misconduct.
Insiders often know how to work around security protocols, making them more difficult to detect than outside fraudsters.
How Banks Are Responding
South African banks are under pressure to close gaps in internal security. Common measures include:
- Restricting staff access to only the information needed for their roles.
- Monitoring employee activity for unusual behaviour.
- Upgrading fraud detection systems to flag suspicious account changes.
- Running training programmes to strengthen awareness of ethics and accountability.
These efforts are aimed at preventing future incidents and restoring trust among customers.
Legal and Regulatory Action
The Specialised Commercial Crimes Unit (SCCU), together with the Hawks and the NPA, plays a central role in prosecuting financial crimes. Courts have imposed strong sentences, as shown in the Qose case.
Regulators also remind banks of their duty to protect customer information. Institutions that fail to do so face potential penalties and reputational damage.
Consumers who fall victim to fraudulent loans can approach the National Credit Regulator (NCR) to dispute accounts and protect their credit status.
What Consumers Can Do
Although banks bear primary responsibility, consumers can take steps to protect themselves:
- Check bank statements and credit reports often.
- Register with Protective Registration at SAFPS if identity theft is suspected.
- Report suspicious activity to their bank immediately.
- Dispute fraudulent accounts with the NCR.
Being proactive helps limit damage and improves recovery chances if fraud occurs.
Why These Cases Matter
The arrest of ex-bank worker Rachel Tsakani Bloko in Polokwane and the conviction of Lusanda Gloria Qose in Gqeberha show that insider banking fraud is not rare. It is a recurring threat that undermines confidence in the financial system.
As fraud cases grow, banks, regulators, and consumers all share responsibility for reducing risks. Stronger internal controls, consistent prosecutions, and consumer vigilance are essential to ensure that sensitive financial data remains protected.
Also Read: SASSA Closes Johannesburg Office Due to Fraud Allegations
