Grindrod Bank is facing a R100m lawsuit from a company that was defrauded by an entity called Nat Industries, in a case that will go far in determining the legal liability of companies that become aware of fraudulent activities and fail to report them to law enforcement.

Durban-based Nat Industries, which, according to its website, specialised in payroll administration and payroll financing and human resources, defrauded Grindrod Bank of R8.2m in 2017. This was after it sold its outstanding invoices to the bank in exchange for upfront cash...

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