A Gauteng-based business couple is suing Absa and Vodacom for more than R1.1m, claiming they were swindled out of their company’s working capital through a SIM swap scam. When Petrus and Hendrina Malan picked up on the fraud they say they instructed Absa to place a hold on the funds, but this instruction was allegedly ignored and two days later the money was transferred into a fraudster’s account and withdrawn in cash at Sibaya Casino, Durban. The Malans have been in business since 2003, manufacturing and retailing roller doors and associated products. They run their business and its accounts through their PJM Family Trust. Their high court claim against the bank and cellphone company is for R249,000, being the amount taken from the account, about R388,000 for loss of profit and R543,000 they say they spent to recapitalise the business. In their claim on behalf of the trust the Malans said that to initially guard against fraud they would receive random verification numbers in th...

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