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News: Accountant gets caught for alleged R5 million fraud

by , 02 December 2015
According to a recent News24 article, a former official of the South African Revenue Service (SARS), was recently expected to appear in the Pretoria Magistrate's Court on charges of VAT fraud amounting to more than R5 million.

In a statement, SARS said that they arrested the chartered accountant from her place of work in Centurion.

A spokesperson went on to say that the fraud went on for a period of nine years, in which she allegedly submitted false VAT invoices and bank statements to SARS between the years of 2007 and 2015 in order to provide evidence of VAT refund claims amounting to more than R5 million.

The investigation, by SARS, went ahead after their risk engine identified the former official for an audit because of her unusual refund trend which had developed over the years.
 
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Through verification by third parties, SARS investigators were able to establish that false invoices had been identified by SARS, including the fact that bank statements were not authentic.

It's worth noting that this former official was a registered member of the South African Institute of Chartered Accountants, as well as the South African Institute of Certified Bookkeepers.  

In light of this news, it's worth paying careful attention, regarding fraud, to ANY PERSON working in your own company.

To prevent any fraud from occurring in your business, click here and get access to The Essential Fraud-Proof Business Guide.
 
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