Three employees of Steward Bank are embroiled in a fraud scandal involving over US$33,000 siphoned from dormant accounts.
The scam came to light during a routine internal audit, which identified suspicious transactions and revealed that the bank had lost a staggering US$33,285.
As a result, banking officials confirmed that the suspected employees were immediately dismissed.
Audrey Njanike and Ian Takaedza, both key personnel at Steward Bank’s Avondale Branch, appeared in court yesterday before Harare magistrate Apollonia Marutya.
Njanike served as a Dispute and Charge Backs Clerk, while Takaedza held the position of Cards Operations Clerk.
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Their alleged accomplice, Alexander Rwambiwa, is currently at large, with police actively pursuing him.
The investigation showed that between September 27 of last year and January 9 of this year, the trio exploited dormant accounts—many abandoned by customers who had relocated and others inactive for unknown reasons.
Utilizing their insider access, they created fake visa cards and opened fraudulent accounts linked to non-existent individuals.
Funds from these dormant accounts were then transferred into their own accounts, allowing them to withdraw money for personal use.
In light of this scandal, Steward Bank is committed to tightening its internal controls to prevent similar incidents in the future. The incident has highlighted significant vulnerabilities associated with dormant accounts and the pressing need for stricter oversight within banking institutions.
The case has been adjourned, with Njanike and Takaedza due to return to court for further proceedings.
