Nuns gun for Standard Bank
N$640 000 transferred 'without authorisation'
According to the congregation of nuns, Standard Bank failed in its duty of care and due diligence by not inquiring into an unusual transaction before processing it.
The Covenant of the Holy Cross, a congregation of nuns, is gunning for Standard Bank after it reportedly authorised the transfer of N$640 000 to a South African bank account without any authorisation.
The nuns are now demanding repayment to the tune of N$240 017. This after Standard Bank was instructed to pay the organisation N$240 017 to partly recover the monies that were fraudulently transferred from its bank account.
According to an affidavit, on or about 5 January, an amount of N$149 000 was transferred from [Covenant of the Holy Cross’] Okongo account to [the organisation’s] main account without any mandate and/or authorisation. “Again on the same date, an amount of N$491 000 was transferred from [Covenant of the Holy Cross’] main business account to an unknown South African bank account without... mandate, authorisation or knowledge,” court documents read.
The unauthorised transfers were brought to bank’s attention, the nuns said, adding that the matter was also reported to the Namibian Police.
“[Covenant of the Holy Cross] has, up to date, not received any other payment from [Standard Bank] in respect of the outstanding amount of money which was transferred out of its account without its knowledge, approval, mandate and authorisation,” the nuns added.
The transfers were found to be odd because no international transfers were typically made from the organisation’s accounts, the nuns said.
“The fraudulent and unathorised transaction was unusual and peculiar because [Covenant of the Holy Cross] never or seldom makes any international transfer to a foreign bank account. The defendant did not inquire into this unusual transaction before processing it, thereby failing in its duty of care and due diligence,” court papers read.
The Covenant of the Holy Cross is being represented by FB Law Chambers, while Anne Shilengudwa is representing Standard Bank.
The nuns are now demanding repayment to the tune of N$240 017. This after Standard Bank was instructed to pay the organisation N$240 017 to partly recover the monies that were fraudulently transferred from its bank account.
According to an affidavit, on or about 5 January, an amount of N$149 000 was transferred from [Covenant of the Holy Cross’] Okongo account to [the organisation’s] main account without any mandate and/or authorisation. “Again on the same date, an amount of N$491 000 was transferred from [Covenant of the Holy Cross’] main business account to an unknown South African bank account without... mandate, authorisation or knowledge,” court documents read.
The unauthorised transfers were brought to bank’s attention, the nuns said, adding that the matter was also reported to the Namibian Police.
“[Covenant of the Holy Cross] has, up to date, not received any other payment from [Standard Bank] in respect of the outstanding amount of money which was transferred out of its account without its knowledge, approval, mandate and authorisation,” the nuns added.
The transfers were found to be odd because no international transfers were typically made from the organisation’s accounts, the nuns said.
“The fraudulent and unathorised transaction was unusual and peculiar because [Covenant of the Holy Cross] never or seldom makes any international transfer to a foreign bank account. The defendant did not inquire into this unusual transaction before processing it, thereby failing in its duty of care and due diligence,” court papers read.
The Covenant of the Holy Cross is being represented by FB Law Chambers, while Anne Shilengudwa is representing Standard Bank.
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